We've Got News: Deel has raised $30 Million Series B Funding!
Deel's mission is to break the confines of geographically concentrated workforces, enabling employers to legally hire anyone, anywhere in the world.
We are thrilled to announce a $30M Series B investment, led by Spark Capital, and welcome Yasmin Razavi to our board.
Our partnership with Spark Capital started when Yasmin Razavi reached out to Alex, our co-founder/CEO via Twitter DM. This kicked off a 6-week series of Zoom meetings and calls in which the investment was made.
“I was interested in Deel from the get-go as the best-suited to be the winner in a category on the cusp of huge growth,” said Yasmin Razavi. “The hurdles employers face when hiring employees internationally can be so Herculean, they ultimately give up on hiring their ideal candidate and settle for the most hirable. Deel eliminates those hurdles and enables employers to hire and onboard efficiently, allowing them to get to work faster.
Our platform solves the largest logistical challenges that come with hiring internationally distributed full time employees and contractors: payroll and compliance. Onboarding and paying workers across borders is complex, with specific currency and labor law requirements that vary by country. It can be both costly and time-consuming.
We are bridging localized compliance and payments and then automating it, taking a complex and manual process and making it seamless.
Alexis Ohanian, co-founder of Reddit also joined us on our bold mission as a part of our Series B and shares our vision:
“Technology will be the great enabler in achieving workforce equality. Deel’s platform makes more diverse hiring choices possible. Unbound by geography, businesses can hire the best person for the role, wherever and whoever they may be.”
Alex, our co-founder and CEO put it best when he said: “We’re challenging the notion that companies need to hire within their vicinity. Our goal is to enable companies to hire the best talent wherever they are, without having to worry about legal and financial complexities, creating a truly global workforce". As we continue to strive towards helping business' build teams without borders, we want to thank the people who helped us make it thus far:
To 500+ companies who trust us to run their payroll and compliance, and thousands of employees and contractors who get paid through our platform, your ongoing support is the reason Deel team shows up to work across 15 countries every morning. 🚀
Cheers to the exciting things the future (of work) holds,