According to a report by Felicity Glover published in Staffing Industry Analysts, the company reached a valuation of 17.3 billion.

Employer-of-record provider Deel has raised US$300 million in a series E funding round, boosting the company’s valuation to $17.3 billion.

The capital raising was led by venture capital firm Ribbit Capital, along with long-term investors Andreessen Horowitz and Coatue Management, Deel said in a press release on 16 October.

General Catalyst and Green Bay Ventures also participated in the funding round.

“This round is about doubling down on the global payroll infrastructure we’ve built from the ground up,” Alex Bouaziz, co-founder and CEO of Deel, said.

Deel said it will use the capital to accelerate strategic acquisitions, invest in AI to boost automation across the platform and continue building out its systems and operations.

The San Francisco-based company, which was previously valued at $12 billion, has held 12 investment rounds since it was co-founded in 2019 by Bouaziz and Shuo Wang, raising a total of $1300 million, according to Crunchbase data.

Deel said that September 2025 marked the company’s third year of profitability and its first $100 million revenue month, while it passed $1 billion in annual recurring revenue earlier this year.

The company serves more than 37,000 businesses, including Lego, Puma, Virgin Media, Klarna and Capgemini, and processes $22 billion in payroll annually for 1.5 million workers across more than 150 countries.

“We have been fans of Deel for a long time … [it] is uniquely positioned to build products for global expansion,” Micky Malka, founder of Ribbit Capital, said in the press release.

The capital raising comes amid a legal dispute with rival firm Rippling. In March, Rippling filed a lawsuit in California accusing Deel of corporate espionage, Bloomberg reported. Deel responded in April by filing a defamation lawsuit in a Delaware state court.

Photo of  Stephen Dawson in Unsplash