San Francisco-based remote staffing company Deel raised $425 million in a Series D round.
What a day today is! We’ve officially raised our Series D of $425 million at a $5.5 billion valuation led by Coatue. It’s been an amazing 🚀 ride, and we can’t wait to keep transforming the future of today’s world of work together.
Read more here 👉 https://t.co/xiqEZyM8TQ pic.twitter.com/4RU47atIlV
— Deel 🗺 (@deel) October 18, 2021
The round was led by Coatue, which had previously invested in DoorDash, Instacart and Spotify. Also participating were Altimeter Capital, Andreessen Horowitz, YC Continuity Fund, Spark Capital, Greenbay Ventures, and Neo. Investors valued the company at $5.5 billion.
Deel helps firms such as Coinbase comply with regulatory requirements by paying salaries to employees around the world. In November 2020 the company launched a tool enabling payments in cryptocurrency.
To date Deel has raised $629 million across six funding rounds, according to Crunchbase. The company, founded in 2019, has more than 4,500 employees.
Earlier, Tala, a startup working with Circle and Stellar the Tala startup raised $145 million.
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