Series D Funded Administrative Services Startups
The 31 Series D rounds in this segment span January 2021 through July 2025, with a pronounced cluster in 2021–2022 when deal activity peaked.
The 31 Series D rounds in this segment span January 2021 through July 2025, with a pronounced cluster in 2021–2022 when deal activity peaked. The largest single raise is Deel's $425M round (October 2021, San Francisco), followed by Papaya Global at $250M (September 2021, New York) and Paack at $226M (January 2022, Barcelona). Workforce management, payroll, and HR software recur as dominant themes — Personio, PayFit, Hibob, Lever, and Wonolo collectively raised over $570M across that period alone.
San Francisco accounts for 8 of the 31 companies, the highest concentration of any single city, with London (Beamery, HungryPanda, Bloom & Wild) and Berlin (CoachHub, JOKR, Zenjob) each contributing three. The most recent additions in 2025 — Ashby ($50M, July), Spyglass Pharma ($75M, June), and Tonbo Imaging ($20M, April) — follow a quieter stretch in 2023–2024 when only JOKR and Simpplr closed rounds.
Most recent rounds
31 shownRelated listings
Frequently asked
What are the largest Series D rounds in this administrative services dataset?
Deel's $425M round (October 2021, San Francisco) is the largest in the dataset, followed by Papaya Global at $250M (September 2021, New York) and Paack at $226M (January 2022, Barcelona). Swile, Human Interest, and Zepto each raised $200M during the same 2021–2022 window.
Which city has the highest concentration of Series D administrative services companies?
San Francisco leads with 8 companies — Ashby, Sense, Lever, Wonolo, Deel, Human Interest, Deliverr, and Good Eggs. London (Beamery, HungryPanda, Bloom & Wild) and Berlin (CoachHub, JOKR, Zenjob) each account for three.
When was Series D funding most active in this segment?
Twenty-two of the 31 rounds closed in 2021 or 2022, with the second half of 2021 particularly dense — Deel, Wonolo, Swile, Papaya Global, Human Interest, and HungryPanda all raised within a five-month span. Activity slowed through 2023–2024 before picking up again in 2025 with Ashby, Spyglass Pharma, and Tonbo Imaging.
What sub-sectors appear most frequently among these companies?
HR software, payroll, and workforce management platforms dominate: Personio, PayFit, Hibob, Deel, Papaya Global, Lever, Beamery, WorkJam, and Wonolo all operate in this space. Employee benefits (Human Interest, Gravie) and staffing marketplaces (Zenjob, Jobandtalent) are secondary clusters.
Which non-US companies raised the largest rounds in this segment?
Paack (Barcelona) raised $226M in January 2022, the largest non-US round in the dataset. Paris-based Swile reached $200M in October 2021, while Hibob (Tel Aviv) raised $150M in August 2022 and HungryPanda (London) raised $130M in December 2021.
What are the most recent Series D rounds in this segment?
The three most recent are Ashby ($50M, San Francisco, July 2025), Spyglass Pharma ($75M, Aliso Viejo, June 2025), and Tonbo Imaging ($20M, Bangalore, April 2025). Before those, CoachHub (Berlin, $42M) closed in December 2024 following a roughly 14-month gap in new activity.
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