Deputy, an Australia-based workforce management software company, announced that it has raised $81 million in Series B funding to accelerate the growth of its platform used for hourly-paid work. This round of funding is the largest Series B raised by an Australian company to date. Deputy has raised a total of $106 million thus far.
“At Deputy, we’re making the lives of employers easier. Taking away some of the administrative strain and giving them untold hours back to focus on what matters: running their businesses, or spending time with their families,” said Deputy CEO and co-founder Ashik Ahmed in a statement. “We’ve had immense success up until now, but we’re only just getting started.”
This round of funding was led by Silicon Valley-based venture capital company IVP. Existing investor OpenView participated in this round along with Australian VC companies Square Peg Capital and EVP.
“IVP has a long history backing some of the most forward-thinking technology companies, many of which are solving some of the world’s biggest problems, and Deputy certainly fits within that criteria,” added IVP general partner Eric Liaw. Liaw is joining Deputy’s board in conjunction with this round of funding.
Paul Bassat of Square Peg Capital said that Deputy has the potential to become one of the “most exciting businesses produced in Australia.” And OpenView partner Dan Demmer said that the team at Deputy has continued to impress them.
Hourly jobs often present challenges in maintaining schedules for employees and employers. Some of the solutions that they use are paper time clocks, whiteboards, and spreadsheets. Deputy simplifies the process through its platform.
The platform is used by more than one million users who work for companies like Amazon, Compass, HubSpot, and Uber. Employees and employers use Deputy for time management and scheduling. So far, Deputy has been used to schedule 200 million shifts — which translates to 1.2 billion hours of work and over $30 billion in payroll.
“We now have over 90,000 businesses globally from small coffee shops in Sydney’s suburbs, to behemoths like McDonalds in the U.S.,” added Ahmed. “One of the best things about Deputy is that it can be scaled from small and medium-sized businesses to large enterprise accounts. There’s a huge global demand for our platform, particularly as hourly paid employees account for two-thirds of the global workforce.”
Deputy is not the only company to raise funding in the hourly employee maintenance space. San Francisco-based Wonolo raised $32 million last month. And Seattle-based Shyft brought in $6.5 million last month as well.