The round is a big way for Australia to start off 2017
A Sydney-based HR startup is jumping for joy Wednesday with the announcement it has raised $25 million (AU$33.3 million) in a Series A financing round according to a report by The Australian. The round was led by OpenView, though it was not clear if the investment included anyone else.
Founded in 2008, Deputy produces an app that manages employees, shift changes, log-ins, and payroll. Their big hook is it connects all staff together. If one employee calls out sick, the app itself will suggest a number of employees open to fill a shift.
“For the last eight years, we have grown our company from an idea to a full-fledged business,” Deputy Co-founder and Chairman Steve Shelley said in a statement. “Now with the support of OpenView, a firm that wholly shares our mission of improving people’s working lives, we will be able to accelerate the product roadmap, new products, and supercharge the go to market plan. This will mean many additional benefits for our customers worldwide to improve their working.”
They have already expanded globally with offices in the US, UK, and Philippines and claim big names like Nike, NASA, and Aussie airline Quantas among 28,000 firms using their system. The money will go toward expanding that global presence.
“Our investment in Deputy marks the largest single investment OpenView has made in our decade-plus history,” OpenView managing partner Daniel Demmer said in a statement. “Co-founders Steve Shelley and Ashik Ahmed 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.”
Australia has seen immense growth in the technology sector over the last couple of years in all its major cities, especially in Sydney. The city ranked 16th in the world for startups according to the 2015 Startup Genome report, ahead of Canada’s three major cities but just behind Austin, Texas and Bengaluru, India.
Last year’s biggest Aussie investments included a $15 million round in design platform Canva (which included actors Woody Harrelson and Owen Wilson chipping in some cash), $23 million for Townsville’s SafetyCulture, job board Airtasker’s $22 million, and Prospa’s $60 million Series B.