Deel, a global HR and payroll platform, has raised $300 million in its latest Series E funding round. The investment was led by Ribbit Capital, with support from existing investors Andreessen Horowitz and Coatue Management. This new funding has increased Deel’s valuation to $17.3 billion, making it one of the biggest private funding rounds in the HR tech industry this year.
The funding comes at a time when Deel is dealing with a corporate espionage dispute involving its competitor Rippling. Despite the ongoing controversy, the company continues to grow rapidly and attract strong investor confidence.
Deel says this new funding wraps up what it calls a record-breaking year. Earlier in 2025, the company crossed $1 billion in annual recurring revenue and has now stayed profitable for three years in a row — a major milestone for a growing tech firm.
In September 2025, Deel recorded its first $100 million revenue month. The company also handled $22 billion worth of payroll across 150 countries, serving more than 37,000 clients worldwide.
In February 2025, U.S. venture capital firm General Catalyst and Abu Dhabi’s sovereign wealth fund, Mubadala, bought Deel shares worth $300 million in a secondary transaction. The deal valued the company at around $12 billion, roughly the same as its previous fundraising round in 2022.
“We’re proud to welcome some of the world’s best investors as partners in this next chapter for Deel,” said Alex Bouaziz, the company’s co-founder and CEO. “This round is about doubling down on the global payroll infrastructure we’ve built from the ground up. We’re reimagining how payroll should work for the next century – fluid, real-time, and truly borderless.”
The new funding comes while Deel is still dealing with a lawsuit from its competitor Rippling in a U.S. federal court. The case, which became public earlier this year, accuses Deel’s executives — including CEO Alex Bouaziz and his father, Philippe — of secretly trying to access confidential information from rival companies.
In April, a former Rippling contractor named Keith O’Brien admitted that he had shared internal company documents with Deel in exchange for monthly payments. He was later caught in a sting operation.
Deel has denied any wrongdoing and has filed a countersuit claiming that Rippling was actually running its own spying scheme. Both companies are still fighting in court, and the case has not yet been resolved.
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