– Major Silicon Valley investment firms including Ribbit Capital, Andreessen Horowitz, and Coatu Management participated.
Annual recurring revenue (ARR) reached approximately KRW 1.4 trillion at the beginning of this year… Monthly sales reached approximately KRW 140 billion in September.
– Plans to accelerate strategic M&A and AI development to expand global network
Deel, a global HR and payroll platform, announced on the 20th that it has secured 417 billion won in Series E funding, surpassing a corporate valuation of 24 trillion won. Ribbit Capital participated as a new investor in this round, while existing investors Andreessen Horowitz, Coatue Management, General Catalyst, and Green Bay Ventures also participated.
As of March, Deal had achieved $1 billion (approximately KRW 1.4 trillion) in annual recurring revenue (ARR) for the year, demonstrating its robust growth. In September, the company achieved its third consecutive year of profitability and surpassed $100 million (approximately KRW 140 billion) in monthly sales for the first time. The company continues its rapid upward trend in key growth indicators, with product usage in the US increasing by approximately 1,500% year-over-year.
In addition, it has recently secured global corporate clients such as LEGO, Puma, Virgin Media, FedEx, Palantir, Novo Nordisk, and Pepsi, establishing itself as a core platform for global business operations.
The deal plans to use this investment to accelerate strategic mergers and acquisitions (M&A) that will expand its product capabilities and global network. Furthermore, the company plans to expand its investment in AI development and operational infrastructure to support local payroll systems in over 100 countries by 2029 and drive automation across its product line.
Micky Malka, founder of Ribbit Capital, which invested in this round, said, "Deal is a trusted brand for companies around the world and a company with a unique ability to build a global talent acquisition infrastructure. The very fact that its organizational structure, with its workforce collaborating remotely across over 100 countries, demonstrates Deal's scalability and execution capabilities. This investment is a result of our confidence in Deal's progress toward establishing itself as a core infrastructure in the global HR market."
“This investment will allow us to further enhance the global payroll infrastructure we’ve built since our inception,” said Alex Buoaziz, co-founder and CEO of Deal. “We will leap forward as an all-in-one platform that enables companies to recruit and manage talent anywhere in the world.”
Meanwhile, Deal currently supports over 37,000 businesses and 1.5 million workers in over 150 countries, processing approximately 30 trillion won in payroll annually.
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