Fueled by the remote work revolution, Deal more than doubles valuation to $12 billion with new boost

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remote hire company dil According to an Axios report, the company has raised $50 million at a $12 billion valuation.

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Dan Primack of Axios broke the news this morning, citing anonymous sources. He wrote that “new investors include Lauren Powell Jobs’ Emerson Collective, while the company’s existing backers include Andreessen Horowitz, Spark Capital and Y Combinator.”

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To say Deel has experienced rapid growth is an understatement. The company recently made headlines when CEO and co-founder Alex Bouaziz shared this. Dil had exceeded the $100 million ARR threshold. In December 2021, he also revealed that Deal had increased ARR to $50 million, indicating that the company started the year with an ARR of about $4 million.

The rise means Deel has more than doubled its valuation since its inception. $425 million in October, when it was valued at $5.5 billion.

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Deal is an example of a company that was in the right place at the right time, aided by what appears to be effective execution. The company claims to allow businesses to hire employees and contractors in less than 5 minutes without the need for a local facility. It also says it gives companies the ability to pay teams in over 150 currencies “with just one click.”

As the COVID-19 pandemic fuels remote work around the world, Deal has noticed a surge in demand.

From April to October 2021 alone, Deel said its global customer base had increased from 1,800 to over 4,500. Clients at the time included Coinbase, Dropbox, and Shopify.

TechCrunch reached out to Deal for comment.


Credit: techcrunch.com /

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