Close Menu
TechBrunchTechBrunch
  • Home
  • AI
  • Apps
  • Crypto
  • Security
  • Startups
  • TechCrunch
  • Venture

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

72,000 user images have been published in violation of dating safety appetite

July 26, 2025

Allianz Life says “majority” of customer personal data stolen in a cyber attack

July 26, 2025

Index venture “Jahanvisaldana” shares the truth about what TAM and founders should focus on instead

July 25, 2025
Facebook X (Twitter) Instagram
TechBrunchTechBrunch
  • Home
  • AI

    OpenAI seeks to extend human lifespans with the help of longevity startups

    January 17, 2025

    Farewell to the $200 million woolly mammoth and TikTok

    January 17, 2025

    Nord Security founder launches Nexos.ai to help enterprises move AI projects from pilot to production

    January 17, 2025

    Data proves it remains difficult for startups to raise capital, even though VCs invested $75 billion in the fourth quarter

    January 16, 2025

    Apple suspends AI notification summaries for news after generating false alerts

    January 16, 2025
  • Apps

    Sam Altman warns that ChatGpt is not legally confidential when using it as a therapist

    July 25, 2025

    Apple expands the App Store age rating system

    July 25, 2025

    Google is testing a vibe coding app called Opal

    July 25, 2025

    Use x Community Notes to test and find everyone's favorite posts

    July 24, 2025

    Apple iOS 26 Public Beta Arrival

    July 24, 2025
  • Crypto

    Telegram's Crypto Wallet will be released in the US

    July 22, 2025

    Indian Crypto ExchangeCoindCX confirms $44 million stolen during hack

    July 21, 2025

    North Korean hackers blamed record-breaking spikes in 2025

    July 17, 2025

    Bitcoin surpasses $118K at the second highest high in 24 hours

    July 11, 2025

    Vitalik Buterin reserves for Sam Altman's global project

    June 28, 2025
  • Security

    72,000 user images have been published in violation of dating safety appetite

    July 26, 2025

    Allianz Life says “majority” of customer personal data stolen in a cyber attack

    July 26, 2025

    It took Google a month to shut down Catwatchful, a phone spyware operation hosted on the server

    July 25, 2025

    Cybercrime Forum Leak Zone has published the IP address of the user

    July 24, 2025

    AI Slops and Fake Reports are running out of winnings for some security bugs

    July 24, 2025
  • Startups

    7 days left: Founders and VCs save over $300 on all stage passes

    March 24, 2025

    AI chip startup Furiosaai reportedly rejecting $800 million acquisition offer from Meta

    March 24, 2025

    20 Hottest Open Source Startups of 2024

    March 22, 2025

    Andrill may build a weapons factory in the UK

    March 21, 2025

    Startup Weekly: Wiz bets paid off at M&A Rich Week

    March 21, 2025
  • TechCrunch

    OpenSea takes a long-term view with a focus on UX despite NFT sales remaining low

    February 8, 2024

    AI will save software companies' growth dreams

    February 8, 2024

    B2B and B2C are not about who buys, but how you sell

    February 5, 2024

    It's time for venture capital to break away from fast fashion

    February 3, 2024

    a16z's Chris Dixon believes it's time to focus on blockchain use cases rather than speculation

    February 2, 2024
  • Venture

    Index venture “Jahanvisaldana” shares the truth about what TAM and founders should focus on instead

    July 25, 2025

    With defense momentum growing, NATO Innovation Fund will update its investment team

    July 25, 2025

    How Y Combinator Food Delivery App Uses Tiktok to Soar in the App Store

    July 24, 2025

    VC Victor Lazarte is leaving the benchmark to launch his own company

    July 24, 2025

    Former Y Combinator, A16Z Experts Hold an Invitation-Only Summit for Founders

    July 23, 2025
TechBrunchTechBrunch

Deel acquires Hofy to build its own IT device management service

TechBrunchBy TechBrunchJuly 18, 20243 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
Share
Facebook Twitter LinkedIn Pinterest Telegram Email


Fast-growing payroll services provider Deal is making its third major acquisition this year.

Deal announced on Thursday that it had acquired Hofy, a London-based company that helps deliver and manage office equipment for remote employees. Financial terms were not disclosed, but a source familiar with the matter told TechCrunch that the deal was worth more than $100 million.

Alex Bouaziz, co-founder and CEO of Deel, said the acquisition will allow Deel, which already has a partnership with Hofy, to achieve “tighter integration” with Hofy's services. In the long term, it will lay the foundation for Deel's new IT-focused product, “Deel IT,” he added.

“Later this year we will be releasing Deel IT which will include software provisioning, app access management, integration with mobile device management and identity tools, and lifecycle management of devices from deployment to retirement, repair and replacement,” Bouaziz said. “This will give our customers a complete IT stack, further positioning Deel as a one-stop shop for all things HR-related, and further positioning them to scale their business globally.”

Hofy co-founders Sami Bourmoum and Michael Ginzo will join Deel to help build out Deel IT, along with the startup's remaining management team and 120 employees. Bouaziz said Deel will work with Hofy's existing customers to migrate them to the Deel platform.

“Current Deal and Hoffy customers will not see any changes to their services,” Bouaziz said.

Bouremoum, a former Bain & Co. consultant, and Ginzo, who previously ran product at Deal (the acquisition was somewhat of a revolving door), launched Hofi at the start of the pandemic in 2020. The shift to remote work proved a big boon for Hofi, as many companies were forced to figure out how to set up and decommission work devices that were sent to employees' homes.

Once integrated with your HR system, Hofy can be used to set rules like device purchasing budgets, usage policies, etc. Once new employees are invited onto the platform, they can order the equipment they need before their start date, including laptops, monitors, smartphones, accessories, and more.

Hofy offered support to its customers, including loaner devices if equipment needed repair. It also handled offboarding, allowing admins to remotely wipe devices before collection, and provided an API that allowed HR vendors to offer hardware delivery and recovery as a managed service.

Prior to the acquisition, Hofy had grown its customer base to more than 700 companies (including Forbes, GoDaddy, HelloFresh, and Canva) and raised more than $30.2 million in funding from investors including CNP, Stride, 20VC, and Day One Ventures. In a 2022 interview, Bouremoum told TechCrunch that Hofy was “cash flow positive.”

“Many of our customers were asking us for help with equipping their employees,” Bouaziz says. “This feedback, combined with our own experience with Hoffy, led us to consider going deeper than a partnership.”

For Deal, which is currently valued at more than $12 billion and has raised $630 million, the acquisition of Hoffy marks another step toward dominating the payroll management market.

Deel's primary business is processing international payroll and hiring employees on behalf of organizations through local legal entities (Deel acts as the employer of record and manages compliance with each country's employment laws.) But the company also draws up contracts that comply with local labor laws, helps workers access health insurance, and provides immigration advice on visa procedures.

Earlier this year, Deal acquired Munich-based “talent development” startup Zavvy and Africa-based payroll engine PaySpace. Shortly after, Deal reported hitting milestones of $500 million in annual recurring revenue, 4,000 employees and 35,000 customers.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

7 days left: Founders and VCs save over $300 on all stage passes

March 24, 2025

AI chip startup Furiosaai reportedly rejecting $800 million acquisition offer from Meta

March 24, 2025

20 Hottest Open Source Startups of 2024

March 22, 2025

Andrill may build a weapons factory in the UK

March 21, 2025

Startup Weekly: Wiz bets paid off at M&A Rich Week

March 21, 2025

Wayve CEO shares his key elements for scaling autonomous driving technology

March 21, 2025

Leave A Reply Cancel Reply

Top Reviews
Editors Picks

7 days left: Founders and VCs save over $300 on all stage passes

March 24, 2025

AI chip startup Furiosaai reportedly rejecting $800 million acquisition offer from Meta

March 24, 2025

20 Hottest Open Source Startups of 2024

March 22, 2025

Andrill may build a weapons factory in the UK

March 21, 2025
About Us
About Us

Welcome to Tech Brunch, your go-to destination for cutting-edge insights, news, and analysis in the fields of Artificial Intelligence (AI), Cryptocurrency, Technology, and Startups. At Tech Brunch, we are passionate about exploring the latest trends, innovations, and developments shaping the future of these dynamic industries.

Our Picks

72,000 user images have been published in violation of dating safety appetite

July 26, 2025

Allianz Life says “majority” of customer personal data stolen in a cyber attack

July 26, 2025

Index venture “Jahanvisaldana” shares the truth about what TAM and founders should focus on instead

July 25, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

© 2025 TechBrunch. Designed by TechBrunch.
  • Home
  • About Tech Brunch
  • Advertise with Tech Brunch
  • Contact us
  • DMCA Notice
  • Privacy Policy
  • Terms of Use

Type above and press Enter to search. Press Esc to cancel.