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Yesterday, global payroll company Deel announced that 20 months after launching, it hit $100M in ARR. That’s faster than Ramp, Slack, or Twilio hit that milestone.
We talked to Deel CEO Dan Westgarth to learn more about the rise of global payroll companies. Some key insights from our conversation:
- Deel's fast growth is a testament to one of the biggest shifts brought about by COVID—the rise of remote work, and the need for software to help founders get around the legal complexities of hiring internationally.
- Deel found initial product market fit by building compliance and workflow tools on top of cross-border payments products like TransferWise and Revolut.
- Today, they’re building a unified domestic and global payroll platform to take on ADP, Paychex, Paylocity and TriNet and their $22B of annual revenue.
Thanks!
Jan & team
New & upcoming interviews
Reply to this email to offer questions you’d like us to ask upcoming interviewees, request specific interviewees and offer feedback.
New
- Peter Zhou, Co-Founder and CEO of Rutter: $27M Series A from A16Z to build a universal commerce API for fintechs like Ramp and ecommerce brandsÂ
- Dave Thornton, Co-Founder and CCO of Vested: $1.8M Seed from Boston Seed Capital to build a wealth management platform for employees with startup stockÂ
- Deb Bardhan, Chief Business Officer at Highnote: $54M Series A from Costanoa Ventures to enable fintechs and embedded finance companies via card issuing
Upcoming​
- Taimur Abdal, Co-Founder and CEO of Causal: $19.5M Series A from Accel—talking to learn more about the intersection of collaborative productivity software and FP&A
- Paul Gambill, Co-Founder and CEO of Nori: $7M Series A from M13—talking to learn more about web3 incentive mechanisms and carbon offsetting technologies
Product update: Membership tiers and pricing page
Over the last several months, we’ve experimented with different products for different types of investors.Â
We’ve now launched a pricing page that breaks down all 4 of our membership tiers—Standard, Pro, Platforms, and Funds.
With this launch, we’ve also turned on self-serve sign-up for our Pro plan, which lets you ask your own questions and get answers within two weeks. To chat and learn more about the Pro plan, just reply to this email.
