Australian workforce management platform Deputy raises $81m Series B

Missions Point in Sydney, Australia

Australia-based Deputy, a workforce management platform, has raised an $81-million funding round led by Institutional Ventures Partners (IVP), a Silicon Valley-based investment firm, the company announced.

IVP, which has a committed capital of about $7 billion, counts Dropbox, Snap, Slack and Twitter among its portfolio companies.

Other participating investors in the round include Australia-based venture capital firm Square Peg Capital, Equity Venture Partners (EVP), Australia’s early stage venture capital firm, and Open View, US-based venture capital firm which led Deputy’s Series A round of $25 million.

With the latest investment, Deputy has raised a total funding of $106 million and its latest investment has marked the largest Series B round raised in Australia.

Deputy co-founder and CEO Ashik Ahmed said, the company would use the proceeds to expand its global team.

Steve Shelley and Ashik Ahmed founded the firm as a platform to solve the company’s own business management problem. Now its software is used by more than 90,000 workplaces across over 70 countries.

Some of its clients include Amazon, Uber, Nike and Burger King. Its software claims to simplify workforce administrative issues like scheduling, collaboration, tasking, time and attendance and performance tracking.

With a current team of more than 200 employees across Australia, U.S. and the U.K, Deputy is now eyeing a global expansion.

“There are 2.3 billion hourly-paid workers in the world today, but too many of these are still managing their jobs in archaic ways,” said Ahmed. “The opportunity here is huge: we envisage a day where every single shift being worked is powered by Deputy — and this funding allows us to build the best product and engineering team in the world that helps us get there,” he said.

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