Deel raised a $300M Series E at a $17.3B valuation, past $1B ARR and three years profitable
Ribbit Capital co-led a $300 million Series E with Andreessen Horowitz and Coatue at a $17.3 billion valuation; Deel said it had crossed $1 billion in ARR earlier that year and recorded its first $100 million revenue month in September.
Deel announced a $300 million Series E at a $17.3 billion valuation, co-led by new investor Ribbit Capital alongside existing backers Andreessen Horowitz and Coatue Management.
The operating numbers Deel published with the round matter more than the valuation for a pricing read. In its own post the company wrote: “Earlier this year, we surpassed $1 billion in annual recurring revenue (ARR).” It also reported its first $100 million revenue month in September, a third consecutive year of profitability, and $22 billion in annual payroll processed.
The combination — profitable, past $1B ARR, and still raising — is the backdrop to the repackaging Deel ran through 2026. A company at that scale monetising a per-worker-per-month fee across contractors, EOR employees, payroll seats, HRIS seats and devices has strong incentives to unbundle the pieces that were previously absorbed (see the Employer Liability Cost line) and to move its highest-value bundles behind a quote. Ribbit’s presence on the cap table is also notable given the credit and money-movement direction of Deel’s later hiring.
Ribbit Capital co-led a $300 million Series E with Andreessen Horowitz and Coatue. Deel stated it had crossed $1 billion in ARR earlier that year, booked its first $100 million revenue month in September, and had been profitable three years running.