News: HR tech firm Deel hits $1 billion run rate in global milestone

HR Technology

HR tech firm Deel hits $1 billion run rate in global milestone

Deel's integrated, AI-enabled platform powers cross-border hiring for 35,000+ businesses in over 150 countries.
HR tech firm Deel hits $1 billion run rate in global milestone

In just six years, global payroll and HR technology firm Deel has hit a major milestone – crossing a US$1 billion annual run rate in Q1 2025.

This rapid ascent places Deel firmly among the fastest-growing players in the HR tech space, reshaping how businesses hire, pay, and manage talent across borders.

Momentum built on strong financial foundations

Deel’s growth trajectory has been nothing short of extraordinary. The company posted 75% year-on-year revenue growth from April 2024 to April 2025 and continued to grow through April and May 2025. Its HR and payroll products saw an even sharper rise, with 164% growth over the same period.

What sets Deel apart is not just speed, but sustainability. The company has been profitable since Q3 2023 and hasn’t tapped external funding since 2022 – a rare feat in the fast-moving world of tech startups. It also recorded double-digit EBITDA margin growth in Q1 2025, showing that its business model is as solid as its ambition.

A platform powering the global workforce

With over 35,000 business customers and 1.25 million workers in more than 150 countries, Deel is now seen as essential infrastructure for global work. It supports companies such as Klarna, BCG, and Change.org – leaders in their respective fields – as they build and manage distributed teams at scale.

Deel’s edge lies in its integrated product suite, built on its own infrastructure. By replacing the traditional patchwork of HR and payroll providers with a single, unified platform, Deel enables businesses to scale globally without the usual operational headaches.

For those needing more tailored solutions, it also offers white-label and unbundled services, adding further fuel to its long-term growth engine.

Backing from early believers

Anish Acharya, General Partner at Andreessen Horowitz and Deel board member, reflected on the company’s journey: “When I first met Deel, there were 10 people with a big idea, and now they’re powering global teams at a massive scale. Alex and Shuo continue to execute on their vision, methodically building a platform that reduces the complexity of global hiring and enables companies to onboard talent anywhere in the world with speed and confidence. As a result, Deel has become the default infrastructure for global work. Their product velocity and early bet on AI have unlocked tools that make global work simpler and more accessible for customers everywhere.”

That early bet on AI has paid off, enhancing Deel’s ability to serve customers faster and smarter while maintaining compliance and quality – both essential for companies operating across multiple jurisdictions.

A mission that has only just begun

For Deel’s leadership, this milestone is more than a vanity metric – it’s a validation of the trust clients place in the company’s global vision.

“Reaching a $1 billion run rate is a reflection of the trust our customers have put in us,” said Alex Bouaziz, co-founder and CEO of Deel.

“From day one, we believed the future of work demanded a new kind of infrastructure – one that was global, flexible, and obsessed with quality. We’re proud of this milestone, but we’re even more excited about what’s next. Our work has only just begun.”

Asia-Pacific leading the charge

Deel’s growth has been particularly robust in Asia-Pacific. According to Mark Samlal, General Manager for the region, Singapore alone saw 75% year-on-year revenue growth.

“Surpassing the $1 billion run rate is not just a global milestone for Deel, but a testament to the trust and momentum we’re seeing across Asia-Pacific. In Singapore alone, we’ve achieved 75% year-on-year revenue growth, reflecting the region’s appetite for innovation in workforce management and the growing demand for seamless, compliant global hiring,” Samlal said.

“As businesses here continue to expand internationally and embrace new ways of working, Deel remains committed to empowering them with the infrastructure and expertise needed to build truly global teams with confidence and speed.”

Far from resting on its laurels, Deel is pressing forward investing in product development, AI capabilities, and regional expansion. With businesses around the world embracing flexible and remote work arrangements, the demand for seamless global employment infrastructure is only set to grow.

Deel is aiming to lay down the tracks for the future of global employment. For leaders navigating cross-border hiring, the HR tech company is fast becoming the operating system of global work.

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Topics: HR Technology, Funding & Investment, #HRTech

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