Deel hits USD $1 billion run rate milestone amid rapid growth
The company, which launched in New Zealand in 2022, announced the achievement less than six years after its founding. It attributes this milestone both to rapid global expansion and a diversified revenue approach, combining subscription and implementation fees for its run rate calculation.
Deel's financial overview indicates a sustained pace of growth, with a 75% year-on-year revenue increase from April 2024 to April 2025. The firm reported double-digit EBITDA margin growth in the first quarter of 2025 and stated it has been profitable since the third quarter of 2023. It has not raised additional funds since 2022.
The company has also achieved 164% year-on-year growth across its HR and payroll product segments over the past year. Deel now serves more than 35,000 corporate clients and supports approximately 1.25 million workers in over 150 countries. Its customer portfolio includes names such as Klarna, BCG, and Change.org.
Deel's integrated product suite and owned payroll infrastructure are described as having shifted how organisations approach global hiring and employee management. By offering a unified platform as well as white label and unbundled services, Deel aims to address requirements for companies of varying sizes and enable further revenue diversification.
As part of its growth strategy, Deel has acquired companies including PaySpace, Hofy, Zavvy, and Assemble. These acquisitions have allowed the company to add new products and extend its payroll infrastructure.
Anish Acharya, General Partner at Andreessen Horowitz and Board Member at Deel, commented, "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."
Alex Bouaziz, Co-founder and Chief Executive Officer of Deel, added, "Reaching a $1 billion run rate is a reflection of the trust our customers have put in us. 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."
Deel's approach to global HR involves combining payroll, compliance, benefits, performance management, and IT asset equipment management into a single platform. The company has invested in artificial intelligence-powered tools and maintains a fully owned payroll infrastructure to support multiple worker types across its global footprint. Deel supports every worker type in 150+ countries, helping businesses scale smarter, faster, and more compliantly.
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