Deel, a remote hiring company, has raised $425 million in Series D funding, taking the total amount raised by the company to over $630 million. The latest funding round values the company at $5.5 billion.

This new funding round was led by Coatue, with partners Rahul Kishore and Lucas Swisher leading the deal. Several new and existing investors also participated in this round, including Altimeter Capital, Andreessen Horowitz, the YC Continuity Fund, Spark Capital, Greenbay Ventures, Neo, plus over 40 additional investors.