Vendor Analysis
published on Jul 03, 2025
Report Overview:
This NelsonHall vendor assessment analyzes Deel's offerings and capabilities as a provider of global employer of record services
Who is this Report for:
NelsonHall’s Global Employer of Record (EOR) profile on Deel is a comprehensive assessment of Deel’s offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing Global EOR suppliers and identifying vendor suitability for Global EOR RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the Global EOR sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Deel’s Global EOR offerings, capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, challenges, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base, including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization, including the location of delivery centers.
Key Findings & Highlights:
Deel is a direct global employer of record (EOR) and provider of contractor management, payroll, and compliance services, headquartered in San Francisco, California. The company was founded in 2019 by Alex Bouaziz and Shuo Wang and in 2022, it expanded its products and services to include a standalone global payroll offering.
Deel offers products and services supporting payroll, HR, IT, and ancillary HR lifecycle services, specifically:
- Hire and pay global workers - EOR, contractor management, contractor of record, global payroll, and PEO
- HR management - performance management, benefits, compensation, finding and hiring talent, workforce planning
- Device and application management - lifecycle management, endpoint protection, mobile device management, and access & identity management
- Mobility, entities, and global expansion - immigration, entity setup, equity consulting, and background screening.
Deel has established legal entities in the past five years and commenced EOR services in ~120 countries. The company delivers its direct EOR services using internal staff within its established and 100% owned local entities. The company employs both organic and inorganic growth strategies, having completed eleven acquisitions since 2019, which include:
- Safeguard Global’s payroll division (March 2025)
- Assemble (December 2024)
- Atlantic Money (November 2024)
- Hofy (July 2024)
- PaySpace (March 2024)
- Zaavy (February 2024).
Since its inception, Deel has raised a total of approximately $686m in PE and VC funding across seven funding rounds. By February 2025, the company's valuation had reached $12.6bn, following the addition of two new shareholders to its capitalization table, General Catalyst and Abu Dhabi Sovereign Wealth Fund Mubadala, as part of a $300m secondary short sale. The company is preparing for an initial public offering (IPO) as early as 2026. Since 2024, Deel has been beset by several high-level lawsuits.
