PRESS RELEASE:
Funding Marks Firm’s Largest Single Investment
ATLANTA–(BUSINESS WIRE)–January 18, 2017–
Deputy, the leading global workforce management solution provider, today announced it has received $25M in Series A financing from OpenView. This funding marks the company’s first from an institutional investor in its eight year history and will be used to rapidly grow Deputy’s team across offices in Atlanta, Sydney, Los Angeles, the United Kingdom and the Philippines. Daniel Demmer, a Managing Partner at OpenView and former President of Endeca, will join the board.
“Our investment in Deputy marks the largest single investment OpenView has made in our decade-plus history,” said Demmer. “Co-founders Steve and Ashik and the Deputy team have built a truly extraordinary platform that automates a broken and manual workflow for hundreds of thousands of users around the world. We’re looking forward to working with the team and realizing Deputy’s further growth potential in the coming years.”
Inspired by issues encountered running their previous business, founders Steve Shelley and Ashik Ahmed built Deputy to transform the archaic practice of employee time tracking and scheduling. The company now counts 28,000 businesses large and small as customers including Amazon, Qantas, Nike and NASA and gives users the ability to auto-optimize schedules by role, hours worked and more.
Workers have been left frustrated with countless hours wasted and less-than-optimal work schedules created by legacy tools. Deputy provides a modern mobile and cloud-first answer to outdated scheduling systems, which for too long have left employees and managers to rely on complicated Excel spreadsheets, phone calls and texts to manage schedule and shift changes.
“Shift workers comprise over half of the world’s labor force, yet the technology to serve these workers and their employers is unsuited for such a large and complicated task,” said Steve Shelley. “For the last eight years, we have grown our company from an idea to a full-fledged business. Now with the support of OpenView, a firm that wholly shares our mission of improving people’s working lives, we will be able to further transform the outdated practices of workforce management and scheduling.”
“The hourly paid market grows at a rate of one million people per year in the U.S. alone and this is not about to slow down with casualization of the workforce, massive growth in hospitality, retail, senior living, on-demand services and other sectors,” said Ashik Ahmed, CEO of Deputy. “We are thrilled to partner with OpenView to further expand both our team and platform. Until now we’ve bootstrapped our way to rapid growth, but with OpenView’s support we’ll be able to scale the team efficiently to meet the needs of our global customer base.”
Deputy is expanding around the globe. Learn more about open career opportunities here.
About Deputy
Founded in 2008, Deputy is headquartered in Sydney, Australia and Atlanta, U.S. with offices in Los Angeles, the United Kingdom and the Philippines. As the ultimate workforce manager, Deputy offers best-in-class technology in a cloud-based solution that simplifies scheduling, timesheets, tasking and other employee communication. Coupled with brilliant mobile apps and one-click payroll integration, Deputy equips business managers with the tools they need to get out of the back office and into the action. More than 28,000 customers in 73 countries use Deputy to manage their employees. For more information, visit Deputy.com and follow @DeputyApp.
About OpenView
OpenView, the expansion stage venture firm, helps build software companies into market leaders. Through our Expansion Platform, we help companies hire the best talent, acquire and retain the right customers and partner with industry leaders so they can dominate their markets. Our focus on the expansion stage makes us uniquely suited to provide truly tailored operational support to our portfolio companies. Learn more about OpenView at openviewpartners.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170118005255/en/
Treble
Michael Kellner, 415-425-4773
deputy@treblepr.com