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Payroll, compliance, and now ‘full-stack’ HR company, Deel has announced a recent product expansion.
Deel has said that their newest services: Deel HR, US Payroll, and Deel Engage, are now available and make it easier to hire, manage and pay employees globally on the one platform.
Alex Bouaziz, co-founder and chief executive officer of Deel commented on the release: “We’ve disrupted global hiring, and now we plan to disrupt the whole HR industry. Products that radically simplify HR get us closer to our goal of helping millions of people get to work for the best companies in the world.”
Deel’s announcement today includes that they finished 2022 with an annual revenue of $295 million. This is a 400 per cent increase from 2021, which stood at $57 million. Deel also became EBITDA positive in September 2022.
According to Deel, new investments have brought the company’s value to $12 billion. One of these recent investors is Emerson Collective, a US health and wellbeing company.
Sarah Pinto, partner at Emerson Collective, said that Deel’s products have helped her organisation to grow: “Our venture investing philosophy at Emerson Collective is to accelerate the growth of consequential companies helping people live to their full potential, which we believe includes providing access to high quality work opportunities.”
“Deel’s products help fulfill that mission by unlocking work opportunities for talented individuals wherever they are in the world. We have been impressed with the breadth of the team’s vision and the velocity of their execution,” said Ms Pinto.
In October 2022, HR Leader reported on: Deel and WeWork partner up to offer more flexible work. And in January 2023, New ‘Deel Lab for Global Employment’: Data and tech aiding employment policy.
Deel states that it “equips teams with the tools, features, and guidance they need in a single platform to eliminate hiring and management borders”.
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Compliance often refers to a company's and its workers' adherence to corporate rules, laws, and codes of conduct.
Jack Campbell
Jack is the editor at HR Leader.
