As more people continue to work remotely, organizations globally have had to adjust — particularly when it comes to onboarding new employees and figuring out how to pay them, in some cases, across borders.
As a result, Deel — a San Francisco-based startup which provides payroll, compliance tools and other services to help businesses hire remotely — has seen a massive surge in demand.
Now almost exactly six months after raising $156 million at a $1.25 billion valuation, the startup is announcing it has raised $425 million in a Series D funding round that gives it a valuation of $5.5 billion. (The Information had reported in late September that the deal was in the works).
