Deel has acquired Assemble, a leader in compensation management, to streamline payroll and HR needs on one platform. It's their third acquisition of 2024, with an average purchase price of $73 million. They disclosed they passed $500 million in ARR earlier in June of this year.
Assemble's platform provides a self-serve solution for companies to manage compensation, including creating structured compensation plans, managing pay and equity bands, and ensuring pay transparency. The platform integrates with leading HRIS solutions, applicant tracking systems, and cap table tools, and provides data-driven insights to help companies make better decisions.
The acquisition will enable Deel to combine Assemble's compensation tools with its own performance management, payroll, and AI technology to create an all-in-one solution for global workforce management. The integrated platform will provide a seamless flow for people management, data-driven compensation, and AI-powered insights.
This acquisition is the latest in a series of strategic acquisitions (7 to be exact) by Deel to expand its offerings and solidify its position in the global workforce management market. Previous acquisitions include Hofy, PaySpace, Zavvy, Capbase, and PayGroup, and Zeitgold. With the acquisition of Assemble, Deel is further expanding its capabilities in compensation management, and enhancing its ability to provide a seamless and integrated experience for its customers.
Assemble previously raised $5 million in seed funding in January 2022 from Susa Ventures, Goldcrest Capital, and several industry angels.