News Summary

Deel, a prominent payroll and HR platform, has reached a valuation of $17.3 billion after securing $300 million in a Series E funding round. The round was co-led by Ribbit Capital and Andreessen Horowitz, with support from existing investors like Coatue Management and General Catalyst. Despite ongoing legal disputes with competitor Rippling over corporate spying allegations, Deel has impressed investors with its profitability and revenue figures, having achieved over $1 billion in annual recurring revenue and $100 million in revenue for September alone. Deel’s platform supports more than 35,000 customers and 1.5 million workers across 150 countries, specializing in managing the complexities of global employment regulations.