Human resources software startup Deel spoke with CNBC on Tuesday, revealing that it is looking to go public with an initial public offering (IPO) planned for as early as 2026.

"We are getting ready to go out, potentially next year or a bit later. We believe we have the right reasons to go public," CEO Alex Bouaziz stated about the plans. The comments come after the business reached an annual revenue run rate of $800 million. The company further shared that its revenue in December soared 70% on an annual basis. Deel also attracted two new shareholders, General Catalyst and Mubadala Investment Company, as per CNBC.

Sources told the media outlet that the company's valuation now stands at some $12.6 billion.