Global talent strategy to be part of every company, says Deel CEO
Deel, which has developed a global payroll and compliance system, raised $425 million at a $5.5 billion valuation last October
14:5101.02.22
“The world is changing and every company will have a global talent policy. If there is an amazing person for your company you will want to work with them regardless of where they are,” said co-founder and CEO of Deel, Alex Bouaziz, speaking in an interview a part of Calcalist’s Innovation Week. “You will want all the solutions for that. We don’t provide all of it today, but we do want to help you understand what are the best practices that can help you to scale.”
Deel, which has developed a global payroll and compliance system, announced last October that it had raised $425 million in Series D funding, taking the total amount raised by the company to over $630 million. The latest funding round valued the company at $5.5 billion. Deel raised $156 million at a $1.25 billion valuation in April of last year.
The company, co-founded by Israeli Alex Bouaziz and Chinese entrepreneur Shuo Wang, has developed a platform that allows payment to both full-time employees and independent contractors (freelancers), in compliance with the currency and the labor laws in the employee’s country of origin. Deel serves more than 4,500 customers in over 150 countries, including the likes of Coinbase, Intercom and Shopify. Deel’s technology offers payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team. With Deel, businesses can hire employees and contractors compliantly without needing a local entity in less than five minutes. Companies can also pay teams in more than 120 currencies.
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- Deel valuation surges fourfold in six months to $5.5 billion, raises another $425 million
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- Deel raises $156 million, including from Uber CEO
“I wouldn’t be able to help you do something if I don’t believe in it myself. We are 600 people in 60 different countries. We want to build a very strong culture that people want to be part of,” noted Bouaziz. “We wanted to empower companies to hire the best people regardless of where they are. When Covid happened, a lot of companies that didn’t have a global talent strategy suddenly faced a situation where they needed to hire in other countries.”
You can watch the full interview in the video above.
