In the wake of the early days of the pandemic, many tech companies have deemed it best to permanently adopt a fully remote model, while some look for ways to return to normality after months of working from home.
Deel, a San Francisco-based payments and software company, announced plans to launch a $425 million Series D funding round last week to boost its value to $5.5 billion, and allow companies to hire, onboard, and pay employees in different countries, according to CNBC.
“Companies can’t really afford some of the engineers in the Bay Area right now, so you have to look elsewhere,” said Deel CEO and co-founder, Alex Bouaziz, according to CNCBC. “It’s helping companies have a bigger talent pool.”
With the help of remote work and overseas employee recruitment, Deel has recently seen a 20% year-over-year revenue increase despite the pandemic further fueling their work-from-home approach and the search for creatives abroad, CNBC reported. And with a notoriously competitive labor market for tech companies, Bouaziz said hiring abroad is an ever-increasing option for engineers.
In a recent KPMG study amid a competitive labor environment for tech companies, data projected that 25% to 30% of the global workforce will work remotely from home by next year