Remote hiring startup Deel raises $156M at a $1.25B valuation after 20x growth in 2020

Many of the world’s organizations shifted to remote work due to the COVID-19 pandemic. But even as more people are vaccinated and offices are planning re-openings, it’s clear that for some organizations, remote work is here to stay.

Deel, a startup that provides payroll, compliance tools and other services to help businesses hire remotely, has seen increased demand in the wake of this shift.

Remote work start-up Deel scores $14 million investment led by Andreessen Horowitz

Amid a sharp pullback in venture capital activity during the coronavirus pandemic, one Silicon Valley start-up is showing what could be a path forward for other new companies seeking funding.

The business, a payroll platform for remote workers called Deel, has secured a $14 million series A round led by Andreessen Horowitz, sources told CNBC exclusively. As part of the investment, Andreessen general partner Anish Acharya is joining the San Francisco-based company’s board.