Deel boosts global payroll tools & closes USD$300m round
Deel has introduced a new set of tools designed to automate workforce planning and payroll processes, as well as providing a preview of its future developments in artificial intelligence.
The newly released upgrades, referred to as The Deel Drop: Fall Edition, focus on assisting global HR and finance teams with year-end tasks and preparing for 2026. These updates are positioned to help organisations handle an intensive period that involves performance reviews, budgeting, and payroll deadlines by enhancing structure, automation, and AI-driven support.
Workforce planning
The latest features for year-end planning include enhanced calibration in performance reviews, which now offers improved filtering, heatmaps, and tagging functionalities. These are intended to facilitate more equitable and consistent compensation decisions. Deel has also added new planning cycles aimed at replacing manual spreadsheets with structured timelines and collaborative approval flows.
Another addition is the scenario calculator, which lets HR and finance teams model headcount and cost changes rapidly and then convert approved plans into job requests with a single action. Integrated compensation bands now also allow unification of pay and performance decisions across various organisational departments.
Payroll features
The payroll enhancements aim to help companies consolidate data from multiple countries into a single global dashboard through Payroll Connect. Automated, policy-based scheduling is provided by Payroll Auto-Submission, keeping payroll runs on time.
Additional features include prorated pay and bulk editing, which are designed to reduce manual interventions and simplify payroll adjustments. Benefits administration has also been streamlined, allowing open enrolment data to flow directly into payroll systems for smoother year-end reconciliation.
Global compliance and AI
In terms of global operations and compliance, Deel has launched features such as business visas for managing short-term work trips, complete with eligibility and application flows. An Entity Management System now centralises filings, bylaws, and shareholder data to improve regulatory compliance across jurisdictions.
New AI-driven tools, called Deel AI Teammates, have also been introduced. These are specialised agents that can perform routine HR and payroll tasks, including leave approvals and payroll audits. There is also an option for users to build custom, no-code AI agents for workflows specific to their companies.
"This release is about giving teams the infrastructure they need when it matters most. This release gives teams the infrastructure to turn that complexity into clarity. Whether you're finalising comp plans, closing payroll across dozens of countries, or planning your 2026 workforce, these tools help you move faster, decide with confidence, and start the new year ahead," said Kobi Eldar, Head of Product for EOR and Payroll at Deel.
Funding round
Deel's product announcements follow its recent completion of a USD$300 million Series E funding round, which brings the company's valuation to USD$17.3 billion. Ribbit Capital led this funding round, with participation from existing investors Andreessen Horowitz and Coatue Management, alongside General Catalyst and Green Bay Ventures, among others.
The capital injection is set to facilitate further strategic acquisitions to broaden Deel's product suite and expand its international footprint. Deel is also set to invest in the continued development of its owned payroll systems, operations, and AI capabilities, with the aim of delivering native payroll services in more than 100 countries by 2029.
According to company figures, Deel now works with over 37,000 businesses and 1.5 million workers worldwide, spanning over 150 countries, and processes USD$22 billion in payroll annually. The firm recently achieved its third consecutive year of profitability and its first USD$100 million revenue month. Annual recurring revenue has exceeded USD$1 billion.
"We're proud to welcome some of the world's best investors as partners in this next chapter for Deel. 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 - and continuing our mission to become the single platform where companies can build, manage, and pay their teams anywhere in the world," said Alex Bouaziz, Co-founder and Chief Executive Officer of Deel.
Growth metrics
Recent growth figures cited by the company include a 1,500% increase in US product usage, a 600% rise in HR product adoption, a 450% uptick in global payroll product usage, and 220% growth in its immigration services. Additionally, there has been a 1,200% increase in customers using four or more Deel products, and a 480% rise in those using three or more products.
Deel's client base includes firms such as LEGO, Puma, Virgin Media, Klarna, Capgemini, FedEx, Nubank, Palantir, Novo Nordisk, Fidelity, and Pepsi.
Investor perspectives
Micky Malka, Founder at Ribbit Capital, commented, "We have been fans of Deel for a long time, it's a brand companies trust and we're excited to invest. Deel - itself a fully remote, global company with employees in over 100 countries - is uniquely positioned to build products for global expansion. The company and its leadership have a limitless opportunity ahead of them."
Ben Horowitz, cofounder of Andreessen Horowitz, said, "Since our first investment into Deel in 2020, we've been blown away by the Deel team's pursuit of building the best HR platform to offer access to employment opportunities and financial services for the global workforce. Deel's continued progress is a testament to how essential their infrastructure has become to customers everywhere, and we are thrilled to co-lead this latest round."
