Deel Hits $17.3 Billion Valuation Amid Spying Scandal With Rival

Deel Inc., a human resources software startup, has raised $300 million in a new funding round, boosting its valuation to $17.3 billion. This comes amid a legal battle with its rival, Rippling. The funding round was led by investment firms such as Coatue Management and Y Combinator. Deel's platform helps companies manage remote and global workforces, a service that has become increasingly in-demand during the COVID-19 pandemic. The company is currently embroiled in a legal dispute with Rippling, another HR software provider. Deel has accused Rippling of illegally accessing its customer data and trade secrets, leading to a contentious lawsuit between the two firms. Despite the ongoing legal challenges, Deel's latest funding round demonstrates the continued investor interest in the rapidly growing remote work software market. The company plans to use the new capital to expand its global footprint and further develop its platform.