Payroll and HR company, Deel, has just surpassed a US$1 billion run rate in Q1 2025, just six years since its founding. This underscores the payroll giant’s rapid global scaling and commitment to enabling the future of work. The company has leveraged its all-in-one payroll and HR platform to rapidly scale in Hong Kong and globally. The system combines HRIS, payroll, compliance, benefits, performance and IT asset equipment management into one seamless platform, with AI-powered tools and a fully owned payroll infrastructure.
Financial snapshot
- $1 billion run rate in Q1 2025
- 75% Y-O-Y revenue growth, April 2024-2025 (profitable since Q3 2023 and not raised money since 2022 and double-digit EBITDA margin growth in Q1 2025)
- 164% year-on-year growth across its HR and payroll products, April 2024-2025.
- 76% Y-O-Y revenue growth, April 2024-2025 in Hong Kong
Alex Bouaziz, Co-founder and CEO, Deel commented, “Reaching a $1 billion run rate is a reflection of the trust our customers have put in us.” Adding, “From day one, we believed the future of work demanded a new kind of infrastructure—one that was global, flexible, and obsessed with quality. We’re proud of this milestone, but we’re even more excited about what’s next. Our work has only just begun.”
With a customer base exceeding 35,000 companies and 1.25 million workers across 150+ countries. including industry leaders like Klarna, BCG, and Change.org, Deel has emerged as a foundational platform for modern workforce management. The company’s integrated product suite and owned infrastructure have helped reshape how organisations hire, pay and manage employees. It offers a unified product platform—eliminating the traditional patchwork of providers that many companies used previously—as well as white label and unbundled services, driving long-term growth diversification.
Alex and Shuo continue to execute on their vision, methodically building a platform that reduces the complexity of global hiring and enables companies to onboard talent anywhere in the world with speed and confidence.
Anish Acharya, General Partner, Andreessen Horowitz and Deel Board Member
Anish Acharya, General Partner, Andreessen Horowitz and Deel Board Member, noted, “When I first met Deel, there were 10 people with a big idea, and now they’re powering global teams at a massive scale.” She added, “Alex and Shuo continue to execute on their vision, methodically building a platform that reduces the complexity of global hiring and enables companies to onboard talent anywhere in the world with speed and confidence. As a result, 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 for customers everywhere.”
In Hong Kong, the company has seen an impressive 76% revenue growth in the city from April 2024 to 2025. Karen Ng, Regional Head of Expansion (North and South Asia), Deel said, “By reshaping global workforce management, Deel is empowering businesses in Hong Kong to attract top talent effortlessly and borderlessly. We take great pride in this milestone and eagerly anticipate the promising opportunities ahead.”
Paul Arkwright
Publisher
