Deel Raises $30M in Series B Funding

Funding Rounds

▤ Summary

Deel, a San Francisco, CA-based payroll and compliance platform for international teams, raised $30m in Series B funding. The round, which brought total funding to over $48m, was led by Spark Capital, with participation from YC Growth Fund and angel investors Nat Friedman, Ryan Petersen, John Zimmer, William Hockey and Alexis Ohanian. The company intends to use the funds to expand operations and its business reach. Co-founded in 2018 by MIT alumni Alex Bouaziz and Shuo Wang, Deel provides a payroll and compliance platform that solves the logistical challenges coming with moving to a distributed, global workforce. The system provides contracts and templates – legally vetted and compliant – to be used for tax forms and localized contracts, automated payment, invoicing and receipts and customer support.

$ Funding

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Amount $30.0M Total raised
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Date September 9, 2020 Announcement date
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Investors - Lead investors
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Company https://www.letsdeel.com/ Funded company

▥ Classifications

industries
Fintech & Banking
applications
Accounting and Taxes

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▦ Linked Companies

Deel
$100M to $250M