Latest news with #SafeguardGlobal
CNA
3 days ago
- Business
- CNA
Deel eyes more acquisitions after hitting $1 billion annual revenue run rate
Payroll startup Deel said on Tuesday it crossed $1 billion annual revenue run rate in the first quarter and has earmarked up to $500 million for acquisitions this year to bolster growth. Customers use Deel's global payroll platform to manage their international workforce. Deel, which acquired Safeguard Global's payroll division for an undisclosed amount in March, allocated an M&A budget of between $200 million and $500 million this year, CEO Alex Bouaziz told Reuters. The San Francisco, California-based company is still aiming for a 2026 U.S. initial public offering, but it depends on macroeconomic conditions. Deel said its revenue rose 75 per cent for the twelve months ended April 30. It reported earnings before interest, taxes, depreciation, and amortization margin of 16 per cent for the first quarter, ended March 31. Bouaziz said he does not know if the company will be able to keep growing at the same level, but "we are going to try our best." Founded in 2019, Deel provides services to help companies hire international employees and contractors while ensuring compliance with local labor laws. It also automates payroll processing for businesses operating across multiple countries. Deel — which has 6,500 employees and more than 35,000 customers including AI startup ElevenLabs, Nike, Klarna, and Shopify — competes with companies such as Rippling, Omnipresent and Automatic Data Processing. "We believe in the idea that typically, the service you get is tied to how much you are willing to pay ... Deel is a bit more premium than most companies," Bouaziz said. In March, rival Rippling filed a lawsuit against Deel alleging racketeering, misappropriation of trade secrets and unfair competition, among others. Deel filed its own lawsuit for defamation in April, saying Rippling has been running a multi-year smear campaign against it. The company also believes the allegations by Rippling are driven by the fact that "Deel is winning in the market."
Reuters
3 days ago
- Business
- Reuters
Deel eyes more acquisitions after hitting $1 billion annual revenue run rate
June 3 (Reuters) - Payroll startup Deel said on Tuesday it crossed $1 billion annual revenue run rate in the first quarter and has earmarked up to $500 million for acquisitions this year to bolster growth. Customers use Deel's global payroll platform to manage their international workforce. Deel, which acquired Safeguard Global's payroll division for an undisclosed amount in March, allocated an M&A budget of between $200 million and $500 million this year, CEO Alex Bouaziz told Reuters. The San Francisco, California-based company is still aiming for a 2026 U.S. initial public offering, but it depends on macroeconomic conditions. Deel said its revenue rose 75% for the twelve months ended April 30. It reported earnings before interest, taxes, depreciation, and amortization margin of 16% for the first quarter, ended March 31. Bouaziz said he does not know if the company will be able to keep growing at the same level, but "we are going to try our best." Founded in 2019, Deel provides services to help companies hire international employees and contractors while ensuring compliance with local labor laws. It also automates payroll processing for businesses operating across multiple countries. Deel — which has 6,500 employees and more than 35,000 customers including AI startup ElevenLabs, Nike (NKE.N), opens new tab, Klarna (KLAR.N), opens new tab, and Shopify ( opens new tab — competes with companies such as Rippling, Omnipresent and Automatic Data Processing (ADP.O), opens new tab. "We believe in the idea that typically, the service you get is tied to how much you are willing to pay ... Deel is a bit more premium than most companies," Bouaziz said. In March, rival Rippling filed a lawsuit against Deel alleging racketeering, misappropriation of trade secrets and unfair competition, among others. Deel filed its own lawsuit for defamation in April, saying Rippling has been running a multi-year smear campaign against it. The company also believes the allegations by Rippling are driven by the fact that "Deel is winning in the market."
Techday NZ
16-05-2025
- Business
- Techday NZ
Safeguard Global to tackle AI & HR risks in LinkedIn Live event
Safeguard Global is set to host a LinkedIn Live event focusing on the challenges of managing global workforce risks in the context of artificial intelligence adoption. The event coincides with International HR Day and will examine the intersection of AI technologies and human resource management on a global scale. This year's theme, "Humanify AI," emphasises balancing technological advances with human judgement and expertise in overseeing international workforces. As AI integration continues across sectors, human resources professionals are reporting new pressures to use automation while maintaining ethical standards and adaptability within their organisations. The event aims to address this dual challenge by discussing shifts in HR practice, from AI-powered recruitment workflows to the rise of virtual HR agents. Katherine Loranger, Chief People Officer at Safeguard Global, highlighted the enduring importance of human contributions in the face of technological change. She said, "AI is changing how work gets done — but not why it matters. International HR Day is the perfect moment to celebrate the people behind the systems — the ones guiding organisations through both innovation and uncertainty." The conversation is described as particularly timely for HR leaders currently navigating significant changes in the field. Recent developments, such as IBM's increased reliance on automation in HR roles and Moderna's strategy to combine HR with digital leadership, have illustrated that human guidance remains crucial despite technological advancements. During the upcoming LinkedIn Live session, Loranger will be joined by Triana Palomo, Employer of Record (EOR) Customer Advisor at Safeguard Global. The discussion will cover several topics, including the evolving responsibilities of HR professionals as AI redefines traditional processes, the continued necessity for human-centred expertise, and the practical risks associated with global workforce management. The event will also include insights into real-world scenarios where compliance and strategic planning play a critical role in successfully navigating the changing landscape of work. In addition, Loranger and Palomo are expected to discuss the EOR model's relevance as companies seek agility in an increasingly regulated and complex global labour market. Safeguard Global's event, titled "Human When It Matters: Navigating Global Workforce Risks in an AI Era," will take place on the company's LinkedIn platform. Attendees are encouraged to follow Safeguard Global on LinkedIn for notifications about the event. Safeguard Global operates in nearly 190 countries, assisting organisations with hiring, payroll, benefits, tax, and mobility functions while supporting compliance in diverse regulatory environments. The company's platform is supported by local experts who provide direct assistance in more than 65 countries. The session is positioned as a forum for HR leaders, industry practitioners, and stakeholders interested in understanding the practical realities of AI adoption and risk management within multinational workforces. Topics will include safeguarding ethical standards, maintaining compliance, and the broader implications of automation for the human resources profession.
