HR platform Deel, founded in 2019, has rapidly emerged as a global player in modern workforce solutions. Led by Co-founders Alex Bouaziz and Shuo Wang, the platform has seen an impressive growth trajectory, with a valuation of $12 billion serving clients in over 100 countries. The company achieved profitability in September 2022 and reached an annual recurring revenue (ARR) of $500 million by March 2024.

The San Francisco-based HR technology company which offers a complete suite of HR services—including onboarding, performance management, and payroll has 4,000 global employees including 550 team members in India, supporting 35,000+ organisations, including BCG, Nike, and Shopify.

Since entering the Indian market in 2022, Deel’s local team has grown by 45%, operating remotely from over 20 cities. The recent acquisition of PayGroup strengthened Deel’s presence in the Asia-Pacific region. 

"India's dynamic business environment and the global aspirations of many of its start-ups present an incredible opportunity," remarked Mark Samlal, General Manager for the Asia-Pacific region at Deel and founder of APAC payroll giant PayGroup, in an interaction with us.

In this interview, Mark shared his insights on Deel's expansion in India and the opportunities it presents. Here are the edited excerpts from the interview:

Mastufa: How do you see the broader landscape of HR tech globally and in APAC? What trends are shaping the space today, particularly in India? 

Mark: Our research indicates that organizations in India are utilising up to six different platforms to manage their employee experiences. Globally, this number can rise to ten. This fragmentation hinders seamless integration, increases costs, and creates inefficiencies.

Deel offers a single platform to manage the entire employee lifecycle, from onboarding to retirement. This includes both full-time employees and contractors, as well as leveraging the employer-of-record model for simplified compliance. 

Mastufa: Could you share more about your expansion strategy in India?  

Mark: Since Deel acquired my company in November 2022, I am glad to continue as the GM for APAC. Initially focused on the domestic market, we have now expanded our GCC capabilities and achieved a 45% growth in our Indian workforce over the past year.

We've been strategically investing in building our domestic capabilities in sales, customer service, implementation, and other areas to effectively serve Indian organisations both domestically and globally. Our recent appointment of a seasoned country manager with deep expertise in HR tech and outsourcing is a significant milestone in our India expansion.

Mastufa: Can you share some of the pain points and challenges that HR leaders and people managers face in India today, and how Deel can address them?

Mark: Our recent study of 100 organisations in India revealed that HR departments are struggling with the fragmentation of their HR technology stacks. They often use multiple platforms to manage their employee experiences, leading to integration challenges and increased costs. This has hindered their efforts to improve the employee experience and has put a strain on their budgets.

Deel's offers a single platform for managing various HCM functions, including payroll and payments for organisations to reduce costs, improve efficiency, and focus on enhancing the employee experience.

Mastufa: How does Deel differentiate itself from other HR tech providers in terms of offering a superior employee experience, especially in the Indian market?

Mark: At Deel, we're committed to providing a superior employee experience beyond traditional HR tech solutions. Our approach is rooted in our own experiences as a global, remote-first company. We've faced the challenges of managing a diverse workforce across multiple jurisdictions and understand the importance of seamless, compliant HR processes.

Our goal is to provide a better employee experience for our clients, whether they are managing existing employees, onboarding contractors, using the employer-of-record model, or managing learning and professional development.  

We recently hosted a sales kickoff in Budapest with representatives from 57 countries. As a remote-first company, we're able to attract top talent from around the world, creating a dynamic and inclusive workplace.  

Mastufa: You mentioned some of the pain points and challenges. What opportunities do you see in the Indian market?

Mark: India's thriving startup ecosystem, with over 140,800 active startups, offers immense potential. Deel's ability to scale with organisations of all sizes makes us a valuable partner for businesses at every stage of growth. We recognise the vital role of small and medium-sized enterprises in driving economies, and we're dedicated to helping them streamline their HR processes and achieve sustained growth.

Mastufa: How does Deel approach managing talent in today's challenging workforce landscape?

Mark: Our platform allows businesses to hire employees, and contractors, or utilise the employer-of-record model to bring in talent from diverse locations. To further enhance the workforce experience, we recently acquired Hofy. This partnership provides Deel customers with access to serviced offices and equipment, simplifying the management of distributed teams and reducing overhead costs.  

Mastufa: Managing remote teams is a big challenge for HR leaders. Many CEOs I’ve spoken with are concerned about finding the right tools and strategies for effective remote management.

Mark: Traditionally, CEOs have relied on HR organisations to become experts in expansion. However, HR departments often lack the necessary expertise in deploying technology and expansion tools. Our research shows that by consolidating HR functions onto a single, integrated platform, organisations can save up to 86 hours per month on HR tasks. This eliminates the confusion and inefficiencies associated with multiple systems and data silos.

Mastufa: Given the potential of AI in HR, how is Deel differentiating itself in the market by leveraging AI for compliance purposes?

Mark: AI is a powerful tool for global HR, payroll, and finance professionals. At Deel, we leverage AI to enhance our compliance capabilities. Our AI-powered compliance hub analyses vast amounts of data to provide organisations with insights into relevant regulations and best practices.  Unlike generative AI, which raises ethical concerns, our focus is on using AI to deliver practical information to our customers. Our AI tool allows organisations to access information about employment law, HR practices, and compliance requirements without the need for manual research or contacting customer support

Mastufa: What are your predictions for the future of the HR sector, both globally and in India? How do you see Deel positioning itself for opportunities?

Mark: India's HR technology market is oversaturated with disparate solutions that address only specific segments of the employee experience. This presents an opportunity for Deel to offer a comprehensive platform that can streamline HR processes for organisations of all sizes.

While the focus is often on large enterprises, the future of India's growth lies in the startup and SME sectors. Deel's platform can empower these organisations by providing a unified solution that eliminates the complexities of managing multiple HR tools.  

Just as the Singapore government recognised the need for integration solutions and provided grants to support them, India could also consider similar initiatives to encourage the adoption of innovative HR platforms like Deel.