Global payroll and compliance platform Deel is leading the way for a hiring revolution.
Silicon Valley used to represent the pinnacle of technological innovation. Anyone and everyone were moving to the Bay Area with the hopes of finding an “in” to the world’s biggest tech companies. COVID-19 shattered the illusion that talent had to be within geographic reach to be a viable candidate.
Throughout the pandemic, companies around the world realized that working remotely is very possible, and dare I say, productive. Some companies even announced they would be a remote-first company, just a few months into working from home. COVID-19 radically changed how and where people worked—or did it just speed up a trend that was already on the rise?
The Rise of Global Hiring
Alex Bouaziz, CEO and Co-Founder of Deel, has been an advocate for eliminating global hiring barriers since the beginning of his career. With a life that has spanned from France and Israel to the United States, United Kingdom, and Spain, he knew that talent existed in every pocket of the world.
When he set out on his first entrepreneurial venture, he wanted to hire the talented people he’d met around the globe. But there was a problem: the process of hiring and paying an international employee was complicated and messy. In his research, he also found that the companies who were hiring global talent weren’t treating their international employees with the same standard and care that they showed talent back home.
A global talent pool going underutilized and underappreciated? He didn’t think this was fair. So, he set out to create a solution.
Co-founded by Bouaziz and Shuo Wang, Deel is the first global payroll and compliance platform for international teams. The platform serves to help employers find and utilize global talent while offering independent contractors the ability to find work around the world.
How does Deel work?
By acting as an employer of record in over 150 countries, Deel takes care of the complex logistics that come with hiring and paying international team members, opening the doors to worldwide talent.
Since launching in 2018, Deel has grown exponentially, especially in the last year. The company grew more than 20X in revenue in 2020 and has helped over 2,400 clients break down the barriers of global hiring.
“It’s been crazy, to be honest,” said Bouaziz of Deel’s growth. “We knew it was only a matter of time before the world realized that you don’t need to only hire in San Francisco and you don’t need to only hire in a 30 miles radius around your office. And we knew there was a big market [for Deel] COVID or not.”
By partnering with more than 250 labour law and accounting experts, Deel allows any business to compliantly create, sign, and send localized contracts around the world. Its easy-to-use dashboard lets employers hire and pay international employees with the click of a button and is changing the way companies think about hiring.
Bouaziz can attest to Deel’s ease of use—and the efficiency of global teams—considering that his own staff is made up of 170+ people in over 43 countries.
“I get paid on Deel! There’s nothing better than building something that you use yourself,” he said proudly.
The Future of Deel
Deel’s success has not gone unnoticed. In April 2021, Deel raised $156 million in Series C funding led by YC Continuity Fund and added Ali Rowghani to its board. The round was co-led by existing investors Andreessen Horowitz and Spark Capital. And included Dara Khosrowshahi, Lachy Groom, Jeffrey Katzenberg, Jeff Wilke, and Anthony Schiller as investors, to name a few. The round led Deel to become a tech unicorn with a $1.25 billion valuation.
And though he is proud of this major milestone, Bouaziz already has his sights set on Deel’s future capabilities.
“Shuo and I see the broader picture of what we could be achieving with Deel. And we’re very, very excited about this,” he said. “What we’ve done so far is very much a drop in the bucket compared to what we’re going to be able to do over the next few years.”
Are you interested in hiring internationally? Find out how Deel can diversify your talent pool by scheduling a demo today.