Deel CEO Alex Bouaziz’s fortune rises to $2 billion as company reaches $17 billion valuation
The 31-year-old Israeli entrepreneur, who co-founded Deel in 2019 after meeting Shuo Wang at MIT, has seen his estimated fortune climb following the company’s latest funding round.
Alex Bouaziz, the 31-year-old CEO and co-founder of HR technology firm Deel, is now worth an estimated $2 billion after the company’s latest $17.3 billion valuation. According to Forbers, Bouaziz has an estimated 12% stake in Deel, cementing his place among the wealthiest founders in Israel’s technology sector.
The leap in valuation follows Deel’s $300 million Series E funding round led by Ribbit Capital, Andreessen Horowitz, and Coatue Management. The company, founded in 2019 with Shuo Wang, has grown into one of the world’s most valuable private software firms, serving 37,000 clients in more than 150 countries and processing $22 billion in annual payroll.
Bouaziz dismissed any suggestion that the new funding or valuation is connected to Deel’s ongoing legal battle with its U.S. rival, Rippling.
“We don’t think about \[Rippling\] at all,” he told Forbes. “Three very strong investors, a good price for the company, and our profitability profile enable us to do a lot more from an acquisition perspective. Plus, fresh capital is never a bad idea, right?”
Unlike many private tech companies of similar size, Deel is profitable. The company projects between $170 million and $200 million in profit for 2025, according to Bouaziz. Deel crossed $1 billion in annual recurring revenue earlier this year and recently surpassed $100 million in monthly revenue, generating $15–17 million in monthly EBITDA.
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Bouaziz’s rise mirrors Deel’s improbable journey. In a personal LinkedIn post following the latest funding announcement, he reflected on the company’s early struggles, describing a time when he and Wang “struggled to even make $10,000” and cycled through failed products before finding traction.
“Our original idea was to ensure freelancers got paid and not ghosted after delivering work,” he wrote. “We built an escrow platform. Nobody cared.” The pair’s breakthrough came after they pivoted to helping companies manage international contractors, a product that within ten days brought in 290 users and $5,000 in monthly revenue. “This business only scaled to +$100 million,” Bouaziz added.
Today, Deel operates across 40 countries, employing thousands and positioning itself as a central player in the infrastructure of the global workforce. In September, the company reached a symbolic milestone, surpassing $100 million in monthly revenue.
