Deel is an American
payroll and compliance provider based in
San Francisco, California.[3][4] The company provides hiring and payments services for companies hiring international employees and contractors.[3]
History
Deel was founded in 2018 by Alex Bouaziz, Shuo Wang, and Ofer Simon.[3][5] Bouaziz and Wang met while studying at
MIT in 2013.[6] The founders launched Deel after encountering difficulty hiring international workers for their previous ventures.[6]
Deel entered the
Y Combinator startup accelerator in 2019.[7] The company then raised several rounds of funding. In May 2020, venture capital firm
Andreessen Horowitz led a $14 million Series A round.[8] In September 2020, the company raised a $48 million Series B.[9] In April 2021, Deel raised $156 million in a Series C round, becoming a
unicorn.[10] In October 2021, Deel raised $425 million in a Series D.[11] They also raised $50 million in May 2022.[12]
Deel also acquired several companies providing HR platforms between 2021 and 2023, such as Zeitgold, Roots, PayGroup, and Capbase.[13][14][15][16][17]
As of January 2023, it reported having 2000 employees.[12]
In March 2023, former workers claimed they were miscategorized.[18][19] In June 2023, California state senator
Steve Padilla sent a formal request to the California Labor and Workforce Development Agency asking them to investigate the allegations.[20][21]
In March 2024, Deel announced its acquisition of Zavvy, an AI-based 'people development' startup specializing in personalized career progression tools, training, and performance management, as well as PaySpace, an African-based payroll engine. The announcement also included an Annual Recurring Revenue (ARR) milestone of $500 million, and a headcount of over 3,700 people.[22]
Products
The company offers a platform for companies to hire remote workers.[3][13] Deel hires employees through their own local entity on a company's behalf, acting as the
employer of record[23] and managing compliance with employment laws in each country.[6] As of August 2021, it owned 45 entities.[13] As of 2023, Deel operates in more than 150 countries. The company processes international payrolls, allowing withdrawals in different currencies.[24]
Deel also assists with creating contracts that comply with local labor laws using templates.[9][24] It also helps workers access health insurance[3][9] and provides immigration advice about
visa processes to companies with
digital nomads.[25]