Deel has announced that it has raised $156 million in Series C funding led by the YC Continuity Fund and has welcomed Ali Rowghani to its board. The round was co-led by existing investors Andreessen Horowitz and Spark Capital. Dara Khosrowshahi, Lachy Groom, Jeffrey Katzenberg, Jeff Wilke, and Anthony Schiller also participated in the round, among others.
“We built Deel to be the solution for companies wanting to hire anywhere around the world, from Argentina to Zambia,” said Deel CEO Alex Bouaziz. “We set out to solve a problem that the majority of businesses found inherently daunting. With Deel, we were able to consolidate everything into a product people trust and enjoy using to hire, to pay, and to give their global team members the best experience possible. Now with this third sizable investment, we can’t wait to open even more doors for businesses, employees, and contractors around the world.”
With this Series C financing, Deel plans to continue international expansion by tapping into new markets and setting up 80 new Deel-owned entities across the world in 2021. Deel also plans to grow its team by hiring talent across the globe. Additionally, Deel will continue to improve, build, and grow their product offerings across the board by focusing on features such as employee equity and an open API.
Announcement: Deel Raises $156M for International Payroll