There might be a lot that human beings can do well, but at the same time, there is nothing we do better than growing on a consistent basis. This tendency to improve under all circumstances has notably fetched us some huge milestones, with technology appearing as quite a unique member of the group. The reason why technology’s credentials are so anomalous is largely based on its skill-set, which was unprecedented enough to guide us towards a reality that we couldn’t have imagined otherwise. Nevertheless, a closer look should quickly reveal how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence and made it the ultimate centerpiece of every horizon. Having such an intelligible tool run the show unsurprisingly scaled up the human experience from every conceivable direction, but even after reaching so far ahead, this prodigious concept called technology will somehow continue to bring the right goods. The same has turned more and more evident in recent times, and truth be told, a newly-launched platform should only make that trend bigger and better moving forward.
Deel, the San Francisco-based HR company, has officially launched a string of solutions, Deel HR, US Payroll, and Deel Engage, marking the first time a company has managed to provide hiring, managing, and payment solutions all on one platform. Starting from Deel HR, it is a global-first Human Resources Information System (HRIS), which is designed to manage an entire global workforce – from direct employees, to international contractors, to EOR employees. As per the available details, the stated solution, in particular, will be completely free for firms with fewer than 200 employees. This alone should save you around $20k. Next up, we must talk about Deel’s US Payroll product that is an expansion of the company’s global payroll offering. By leveraging what is an in-house engine, users can now expect to dramatically simplify their payroll operation. Lastly, we have Deel Engage. Deal Engage gets you, in the most convenient language, a set of HR Slack plug-ins connected to Deel HR. Such a setup is conceived to help distributed teams in building a stronger culture, increasing team collaboration, managing time off requests, 1-on-1s, candidate referrals, and a lot more.
The move provides a strong follow up to Deel’s recent success. In case you are not quite aware, Deel wrapped up its 2022 at a $295 million ARR, which translates to a more than 400% of increase from the $57M ARR it had during the year 2021. Furthermore, the company has also confirmed that it successfully became EBIDTA positive back in September 2022.
“We’ve disrupted global hiring, and now we plan to disrupt the whole HR industry,” said Alex Bouaziz, co-founder and CEO of Deel. “Products that radically simplify HR get us closer to our goal of helping millions of people get to work for the best companies in the world.”
Fair enough, founded in 2018, Deel has managed to become a legitimate giant of its niche. This can be validated through the fact that it currently has a presence in more 150 countries. The stated footprint, in turn, has given the company well over 15,000 customers, including the likes of Nike, Shopify, Klarna, and more. However, given the investment it recently got from Emerson Collective, Deel’s stature should be gearing up to hit much bigger altitudes in the near future.
“Our venture investing philosophy at Emerson Collective is to accelerate the growth of consequential companies helping people live to their full potential, which we believe includes providing access to high quality work opportunities,” said Sarah Pinto, Partner at Emerson Collective. “Deel’s products help fulfill that mission by unlocking work opportunities for talented individuals wherever they are in the world. We have been impressed with the breadth of the team’s vision and the velocity of their execution.”
