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January 24, 2023

HR Unicorn Deel simplifies global HR with new full-stack platform

Valued at $12 billion with $295 million ARR, Deel expands beyond international hiring with Deel HR, and Deel Engage to consolidate global team management.

Amsterdam, 23 January 2023 - Deel, the global HR platform, today announces the launch of Deel HR, US Payroll, and Deel Engage, making it possible to hire, manage and pay employees globally through a single platform. With the launch of this new tool, Deel is also officially announcing $295 million ARR and a valuation of $12 billion. Deel’s unicorn status highlights not only its $12 Billion valuation but also its progress toward the goal of enabling and supporting remote working around the world.

Deel is no longer just an international payroll and compliance company enabling global hiring, but a complete HR solution that simplifies every aspect of managing a global team, from culture and onboarding, to local payroll and compliance.

- Dennis Valkema, Leader Benelux of Deel

With a professional experience in the field of HR and Talent Management of more than 25 years, Dennis Valkema and his team have the competency to support companies in their hiring processes within minutes from anywhere. Deel provides a solution to an issue ubiquitous enough to reach companies from diverse fields.

While work has gone global, there has yet to be an HR platform that has handled everything for everyone, anywhere. Most teams use up to 16 different tools for international team management alone. As a consequence of which, data silos emerge, tech consolidation risks are increased, and inconsistent team experiences occur. Deel has streamlined everything needed to hire, manage, and pay global teams using one platform while maintaining compliance.

Deel HR includes a new Human Resources Information System (HRIS). This is the first global HRIS system and allows companies to manage their entire global workforce, from direct employees to international workers. Deel HR will be free for companies with less than 200 employees and can save about $20k for companies. Alongside this, a set of HR Slack and Microsoft Teams plugins will be connected to Part HR to build a strong culture within international teams.

“We’ve disrupted global hiring, and now we plan to disrupt the whole HR industry,” said Alex Bouaziz, co-founder and CEO of Deel. “Products that radically simplify HR get us closer to our goal of helping millions of people get to work for the best companies in the world.”

Alex Bouaziz – a Technion and MIT alumnus with a master’s degree in Civil and Environmental Engineering - was featured on Forbes’ 30 Under 30 Finance list. Prior to Deel, he co-founded the investment fund Sarona Ventures. In 2019 together with Shuo Wang, Alex Bouaziz started Deel, and in under four years, the company has grown to more than 2000 team members in over 100 countries.

Deel wraps up 2022 with $295 million ARR, which marks an increase of $238 million in the space of 1 year alone. Deel also confirmed that it has been EBITDA-positive since September 2022. With new investment from Emerson Collective, participation from existing investors, and their recent expansion into the entire Benelux region, Deel has become an international market leader for global recruitment and payroll. Deel helps more than 15,000 companies, such as Subway, Klarna, WeTransfer, and Lightyear.

January 24, 2023
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