\n<\/p>\n
As entertaining as it\u2019s been for the tech industry to watch rival payroll decacorns Deel and Rippling sue each other over a corporate spying scandal, top-tier VCs are apparently not terribly scared off. Deel on Thursday announced that it has raised a $300 million Series E round co-led by A-list fintech VC firm Ribbit Capital and Andreessen Horowitz, with participation from existing investors like Coatue Management and General Catalyst.<\/p>\n
Deel says it\u2019s been profitable for three years and surpassed $1 billion in ARR, including having a month \u2014 September \u2014 that hit $100 million in revenue. Deel\u2019s business model focuses on serving global companies, handling the complexities of currency and employment regulation for far-flung international teams. It says it\u2019s now grown to 35,000+ customers with more than 1.5 million workers in over 150 countries.<\/p>\n
Those are the types of numbers that attract investment, pending lawsuits or no. (Rippling\u2019s California-filed lawsuit against Deel does not yet have a trial date, and is in the discovery phase, according to court records.) Indeed, Ribbit\u2019s founder, Micky Malka, and a16z founder Ben Horowitz, gave Deel their full-throated supported in the announcement. In prepared statements, Malka said the Ribbit has been \u201cfans\u201d of the HR company for a long time, because it\u2019s a \u201ca brand companies trust,\u201d and Horowitz said that a16z has been \u201cblown away\u201d by Deel\u2019s work to build \u201cthe best HR platform\u201d for global companies.<\/p>\n
For what it\u2019s worth, the lawsuits have not slowed down Rippling\u2019s fundraising efforts either. In August, Rippling raised a $450 million Series G round at a $16.8 billion valuation.<\/p>\n","protected":false},"excerpt":{"rendered":"
As entertaining as it\u2019s been for the tech industry to watch rival payroll decacorns Deel and Rippling sue each other over a corporate spying scandal, top-tier VCs are apparently not terribly scared off. Deel on Thursday announced that it has raised a $300 million Series E round co-led by A-list fintech VC firm Ribbit Capital<\/p>\n","protected":false},"author":1,"featured_media":28508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[16941,9767,16942,10007,102,2796,6730,14061],"class_list":{"0":"post-28507","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-technology","8":"tag-17-3b","9":"tag-300m","10":"tag-bigname","11":"tag-deel","12":"tag-hits","13":"tag-raising","14":"tag-valuation","15":"tag-vcs"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/28507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28507"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/28507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/28508"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}