“Global team, Zero hassle”

Deel, co-founded in 2019 by Alex Bouaziz and Shuo Wang, is a global people platform that simplifies HR, payroll, and compliance for businesses of all sizes. The platform empowers companies to hire, onboard, and pay employees or contractors across 150+ countries while ensuring compliance with local labor laws and tax regulations. It centralizes employee data into a single global HRIS while localizing onboarding processes based on regional labor laws.

Business Model

Deel's business model revolves around providing a comprehensive global workforce management platform, focusing on HR, payroll, and compliance. It generates revenue primarily through subscription fees, charging $49 per contractor per month and $599 per employee per month for its Employer of Record (EOR) service. The platform's key offerings include global payroll management, EOR services, contractor management, and HR management tools, all designed to streamline the process of hiring and managing international teams. By handling compliance and legal matters in-house across 150+ countries, Deel maintains a competitive edge through vertical integration, offering higher margins and better control compared to traditional providers. This model has enabled Deel to support over 35,000 businesses, process $11.2 billion in payroll, and achieve significant growth with a valuation of $12 billion.

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Possıble effects

Deel's global hiring platform facilitates market expansion, ensures compliance to reduce legal risks, enhances employee experience through streamlined HR processes, and drives technological innovation with AI and automation for efficient operations.

What Comes Next?

Deel plans for a potential IPO by 2026, strategic partnerships, geographic expansion, and diversifying services to strengthen its market position.

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Who will benefit?

Global businesses, remote workers, investors, and emerging markets benefit from Deel’s streamlined HR solutions, ensuring compliance, fostering growth, and enabling global workforce expansion.

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Deel's Growth Timeline

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Deel and Competition

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Deel competes with several other HR and payroll solutions, such as Rippling, Multiplier, Papaya Global, Remote and Oyster. Deel differentiates itself from its competitors through its extensive global compliance network, speed of onboarding, and flexible payment options. Its contractor misclassification protection is another standout feature, helping businesses mitigate risks when hiring globally. According to G2.com reviewers Deel is ranked the #1 Best Employer of Record (EOR) Software.

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Prominent News

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Rippling declares war on Deel with lawsuit alleging spy scheme, March 17, 2025 -  Rippling filed a lawsuit against Deel alleging it orchestrated a scheme to steal competitive data, including potential sales leads. Click here to read more.

‍Deel: New Anchor Investors And Financial Milestone Announced, Feb 8, 2025 - Deel announced that new anchor investors, including General Catalyst and a sovereign investor have purchased close to $300 million in secondaries. Click here to read more.‍

Deel Acquires Assemble to Redefine Global Compensation Management, Dec 20, 2024 - Deel has announced its acquisition of Assemble, a company focused on compensation management and insights. Click here to read more.

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Return on Investment (ROI)

ROI computed as of March 17, 2025.

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Funding Round in USD

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Deel VC/Strategic Investors‍

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Quarterly Bid:Ask Volume Ratio

PM Insights highlights the quarterly bid:ask volume ratio where there were at least three institutionally-sized broker contributions within that period.

During Q1 2023, Deel recorded its highest combined bid and ask volume at $573M. In Q2 2022, 100% of Deel's volume came from the ask side, while in Q3 2023, 58% of volume shifted to the bid side. For the quarter-to-date in 2025, Deel has generated a total volume of $119M, with 50% coming from the bid side.

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Quarterly Bid to Ask Spread

The plot below illustrates the quarterly average bid-to-ask spread. Deel's bid-ask spread reached its highest point at 30% in the quarter-to-date period of 2025, while it recorded its lowest spread at 18% in Q1 2024.

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