The Briefing: Deel Lands $425M, Sunfire raises $125M, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Deel lands $425M to scale remote hiring

Deel, provider of a payroll and compliance platform for companies hiring remote employees, raised $425 million in a Series D round at a valuation of $5.5 billion.

Coatue led the financing for the San Francisco-headquartered company, which specializes in helping companies hire workers in other countries. Founded in 2018, Deel previously raised at least $204 million in known financing, including a $156 million Series C round in April.

— Joanna Glasner

Sunfire raises $125M Series B

Germany-based clean tech company Sunfire closed a Series D worth approximately $125 million led by Lightrock and Planet First Partners, with participation from Carbon Direct Capital Management, HydrogenOne Capital and existing shareholders. The company helps supply the growing hydrogen energy market without the use of fossil fuels. Sunfire instead relies on its electrolysers technology to provide renewable hydrogen and fuels.

Founded in 2010, the company has now raised approximately $174 million, according to Crunchbase data.

— Chris Metinko

AllPlants picks up $52M

London-based AllPlants, a provider of frozen, plant-based meals, raised £38 million ($52 million) in a funding round led by Draper Esprit. The company delivers chef-prepared vegan meals to customers, who select packages based on their dietary preferences.

— Joanna Glasner

Analytics

Informatica sets range for $885M IPO: Silicon Valley-based Informatica, an enterprise cloud data management platform, set a price range of $29 to $32 for its upcoming IPO. The offering is expected to raise around $885 million for the company, which plans to list on the NYSE under the symbol INFA.

— Joanna Glasner

Illustration: Dom Guzman