Total amount raised
$159.5 Millions
Latest funding date
04/01/2024
Location
Deputy has successfully raised funds through multiple rounds, with notable investors including Express Employment Professionals and Square Peg Capital. The platform offers a comprehensive suite of tools for employee scheduling, timesheets, and HR management.
Keep reading to explore the intricacies of Deputy's fundraising journey and the investors backing this innovative platform.
What Is Deputy?
Deputy, founded in 2008 by Ashik Ahmed and Steve Shelley, is a global workforce management platform based in Sydney, New South Wales, Australia. The company offers a comprehensive suite of tools for employee scheduling, time and attendance tracking, auto-scheduling, leave management, labor costing, and meal and rest break compliance.
With a mission to simplify workforce management and improve compliance with labor laws, Deputy's software strengthens employer-employee connections and streamlines compliance obligations. The platform is designed to revolutionize how hourly workers and businesses operate together.
Deputy employs between 251-500 people, providing robust solutions for businesses to manage their workforce efficiently. The company also has a presence in San Francisco, CA, further expanding its global reach.
How Much Funding Has Deputy Raised?
- Corporate Round
- Amount Raised: Not specified
- Date: April 2024
- Lead Investors: Express Employment Professionals, Square Peg Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not explicitly mentioned
- Corporate Round
- Amount Raised: $37M
- Date: March 2024
- Lead Investors: Express Employment Professionals
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not explicitly mentioned
- Series B
- Amount Raised: $81M
- Date: November 2018
- Lead Investors: IVP, OpenView, Square Peg Capital, EVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth, develop new products, and build a top-tier product and engineering team
- Series A
- Amount Raised: $25M
- Date: January 2017
- Lead Investors: OpenView
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not explicitly mentioned
- Series A
- Amount Raised: Not specified
- Date: January 2016
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not explicitly mentioned
Total Amount Raised: $143M
Current Valuation: Not publicly disclosed
Key Investors
Major Investors in Deputy
- Express Employment Professionals
- Details: Express Employment Professionals is a staffing agency that provides workforce solutions to businesses. They offer a range of services including temporary staffing, professional search, and human resource services.
- Investment Focus Areas: Staffing, Human Resources, Workforce Solutions
- Notable Investments: Deputy
- Square Peg Capital
- Details: Square Peg Capital is a venture capital firm that invests in technology companies across the Asia-Pacific region. They focus on supporting innovative startups and helping them scale.
- Investment Focus Areas: Technology, Startups, Innovation
- Notable Investments: Not explicitly detailed
- IVP
- Details: IVP (Institutional Venture Partners) is a venture capital firm that invests in later-stage companies. They have a strong track record of supporting high-growth technology companies.
- Investment Focus Areas: Later-stage Companies, Technology, High-growth
- Notable Investments: Not explicitly detailed
- OpenView
- Details: OpenView is a venture capital firm focused on expansion-stage software companies. They provide operational support and strategic guidance to help companies grow.
- Investment Focus Areas: Expansion-stage Software, Technology, Growth
- Notable Investments: Not explicitly detailed
- EVP
- Details: EVP (Equity Venture Partners) is a venture capital firm that invests in early-stage technology companies. They aim to support innovative startups with potential for significant growth.
- Investment Focus Areas: Early-stage Technology, Startups, Innovation
- Notable Investments: Not explicitly detailed
What's Next for Deputy?
Deputy stands at the cusp of significant growth opportunities, driven by the increasing demand for workforce management solutions. With $81 million raised in its Series B funding round, the company is well-positioned to accelerate its growth, develop new products, and build a top-tier product and engineering team. The platform's existing partnerships with high-profile companies like Amazon and Uber further bolster its market presence.
Future fundraising opportunities seem promising as Deputy continues to expand its customer base beyond the current 90,000 workplaces in over 70 countries. The substantial Series B funding suggests potential for additional rounds to support further expansion and product enhancements. However, the company may face challenges such as competition from other workforce management software providers and the need to keep up with technological advancements and customer expectations.
Industry trends indicate a growing reliance on technology to manage hourly-paid workforces, which aligns well with Deputy's offerings. As the company scales its operations, maintaining product quality and customer satisfaction will be crucial. Potential acquisitions could also be on the horizon to enhance technology and expand market reach, ensuring Deputy remains a key player in the workforce management industry.
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