HR software firm Deel, valued at $12.6 billion, preparing for potential IPO in 2026
From CNBC: 2025-02-04 07:00:01
Deel, a human resources software firm, has hit a $800 million revenue run rate and is preparing for a potential IPO next year. The company recently added new major shareholders, General Catalyst and Mubadala Investment Company, increasing its valuation to $12.6 billion. Deel CEO Alex Bouaziz is confident in the firm’s readiness for a public listing.
Despite financial success, Deel is facing a lawsuit accusing it of facilitating money laundering transactions. The company denies the claims and has filed a motion to dismiss the lawsuit, calling it baseless. Deel alleges the suit is part of an effort by a major investor in a competitor to tarnish its reputation. Plaintiff’s lawyer Thomas Grady is connected to Rippling, a rival HR software firm. Bouaziz remains confident in Deel’s ability to refute the lawsuit.