Deel, Remote Payment Startup, Scores $14M

Deel, a payroll platform for remote workers, has secured a $14 million series A round led by Andreessen Horowitz, sources told CNBC exclusively. As part of the investment, Andreessen general partner Anish Acharya is joining the San Francisco-based company’s board.

“We’ve seen companies that typically hire in a 30 mile radius around San Francisco, New York or Boston replace that with a location perimeter of ‘anywhere,’” COO Westgarth said. “It’s a function of the pandemic, which taught businesses located in these expensive metro areas that they don’t need employees based there, because remote teams are performing very well.”