HR unicorn Deel prepares for IPO as soon as 2026 after revenue jump
Published On Feb 4, 2025, 7:00 AM
Deel, a human resources software startup, has achieved an annual revenue run rate of $800 million following a 70% year-over-year revenue increase. The company is preparing for an IPO possibly as early as 2026, boosted by a $300 million secondary share sale that brought in new major investors, including General Catalyst and Abu Dhabi's Mubadala Investment Company. Deel's CEO believes going public could enhance its brand recognition in the HR tech space. However, the company is simultaneously facing a lawsuit alleging it facilitated money laundering, which Deel intends to dismiss as groundless.
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Positive
Given Deel's significant revenue milestone and plans for an IPO, the company's growth trajectory appears strong despite the legal challenges it faces. The continual investment from key players also indicates confidence in Deel's future performance.