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Deel, the $12B HR startup, acquires Zavvy to step up consolidation play
Consolidation is afoot in the world of HR services, with larger players snapping up interesting, smaller startups en route to more robust unit economics
Consolidation is afoot in the world of HR services, with larger players snapping up interesting, smaller startups en route to more robust unit economics and providing one-stop shops for customers looking to cut down on suppliers. Hatched at Y Combinator only five years ago, Deel’s focus to date — on building payroll solutions and hiring/contract management for distributed workforces — dovetailed nicely with the “future of work” theme that gripped the world when Covid-19 hit. But if one clear impact of the coronavirus pandemic was the emergence of a new tech ecosystem catering to a rise in remote work — Deel’s growth very much being a strong product of that — then the last couple of years have definitely been a story of how that economy has had to right-size to the realities of today.
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