Leading HR and payroll platform Deel has surpassed a $1 billion annual run rate in the first quarter of 2025, marking a major milestone for the six-year-old company as it positions itself as the infrastructure backbone of the global workforce.
The company, which has been profitable since Q3 2023, posted a 75 per cent year-on-year revenue growth from April 2024 to April 2025. Its HR and payroll suite saw an even sharper rise, jumping 164 per cent in the same period. Deel also reported double-digit EBITDA margin growth in Q1, all without raising additional capital since 2022.
Founded in 2019, Deel now serves over 35,000 businesses and supports 1.25 million workers across more than 150 countries, including global names like Klarna, Boston Consulting Group (BCG) and Change.org.
“This milestone is a reflection of the trust our customers have put in us,” said Alex Bouaziz, Co-founder and CEO of Deel. “From day one, we believed the future of work demanded a new kind of infrastructure — one that was global, flexible, and obsessed with quality.”
Deel’s growth has been driven by its unified product platform, which allows companies to hire, pay and manage global talent without the complexity of juggling multiple providers. The company also offers white-label and modular services to suit diverse customer needs — a move that has helped it tap into a broader enterprise base.
Andreessen Horowitz General Partner and Deel board member Anish Acharya lauded the company’s execution, stating: “Deel has become the default infrastructure for global work. Their product velocity and early bet on AI have unlocked tools that make global work simpler and more accessible.”
The Asia-Pacific region has emerged as a key growth market for Deel. In Singapore alone, the company has recorded a 75 per cent revenue surge year-on-year.
“Surpassing the $1 billion run rate is not just a global milestone for Deel, but a testament to the trust and momentum we’re seeing across Asia-Pacific,” said Mark Samlal, Deel’s General Manager for the region. “As businesses here continue to expand internationally and embrace new ways of working, Deel remains committed to empowering them with the infrastructure and expertise needed to build truly global teams.”
