Deputy Revenue, Valuation, Funding & Investors

Deputy is valued at $1.1B as of March 2024, a 11.0x multiple on its last reported $100M revenue.

Last Deputy valuation

$1.1B

Strategic investment · Mar 2024

Last Deputy funding round

$37M

Strategic investment · Mar 2024

Deputy revenue

$100M

Strategic investment · Mar 2024

Key investors in Deputy

  • OpenView
  • IVP
  • Square Peg Capital
  • EVP
  • Express Employment Professionals

Deputy Overview

About Deputy

Deputy is a Sydney-headquartered workforce management platform designed for hourly workers and businesses worldwide. The software handles scheduling, time tracking, communication, and compliance for industries like retail, hospitality, and healthcare. Adopted globally, Deputy streamlines shift management and improves employee engagement through mobile-first tools and integrations with payroll systems.


Founded

2008

HQ

AustraliaSydney

Website

deputy.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$100M (Mar 2024)

Valuation

$1.1B (Mar 2024)

Deputy Valuation

Deputy is currently valued at $1.1B, based on its strategic investment round in March 2024.

The $37M round was led by Express Employment Professionals.

Deputy valuation by funding round

Deputy valuation by funding round
DateStageValuationRevenue Multiple
Mar 2024Strategic investment$1.1B11.0x

Deputy Revenue

Deputy's latest recorded revenue is $100M, as of its strategic investment round in March 2024. At a $1.1B valuation, that implies a 11.0x revenue multiple.

Deputy revenue by funding round

Deputy revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Mar 2024$100M$1.1B11.0xStrategic investment

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Deputy Funding History

Deputy has raised a total of $143M across 3 funding rounds.

Deputy's first fundraising round was a $25M Series A in January 2017. The most recent completed round was a $37M strategic investment round in March 2024.

Deputy funding rounds

Deputy funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2024Strategic investmentExpress Employment Professionals (lead)$37M$1.1BDeputy is a global people platform for hourly work, providing intuitive technology for workforce scheduling and management, used by over 1.4 million shift workers in sectors like hospitality, healthcare, and retail. On March 13-19, 2024, it announced a strategic partnership and Series C investment of $37M (also reported as $24.6M) from Express Employment Professionals, a leading global staffing provider, which acquired a stake after initially engaging as a customer. This valued Deputy at over $1.1B USD, marking it as Australia's first tech unicorn in two years. The investment supports Deputy's global expansion, potentially adding up to 500,000 users (a 36% increase) through integration with Express's operations for up to 500,000 hourly employees. Deputy achieved profitability with a statutory profit of $8.5M USD in FY ending June 30, 2023 (vs prior loss of $24.9M), and annual revenue exceeding $100M USD. It had not fundraised in six years and been profitable for 18 months prior to the deal. Leadership includes CEO Silvija Martincevic (appointed 2023, ex-Affirm), founder Ashik Ahmed (now board member), and co-founder/chairman Shelley. Past funding includes $111M led by IVP in 2018. The partnership aims to modernize work-life for mobile-first hourly workers, enhancing efficiency for businesses and empowering employees via the Deputy app.
Nov 2018Series BIVP (lead); OpenView; EVP; Square Peg Capital$81M--
Jan 2017Series AOpenView (lead)$25M-Deputy is a global workforce management software platform founded by Steve Shelley and Ashik Ahmed that helps hourly and shift-based businesses automate scheduling, time tracking, time sheets, task management, performance monitoring, and employee communication. The company had been bootstrapped for eight years before raising institutional capital and served 28,000 customers across 70 countries, including major clients like Amazon, Qantas, NASA, and Nike, with 450,000 total users and over 60 million shifts managed on its platform. In January 2017, Deputy announced a $25 million Series A funding round led by Boston-based OpenView Venture Partners, marking OpenView's largest single investment in its decade-plus history and Deputy's first institutional funding. The capital was intended to accelerate product development, expand go-to-market efforts, and scale the company's teams across offices in Sydney, Atlanta, Los Angeles, the United Kingdom, and the Philippines. At the time of the Series A, Deputy was experiencing rapid growth, having grown 450 percent year-over-year while remaining profitable, and targeted the expanding hourly wage market which grows by one million workers annually in the United States alone across hospitality, retail, senior living, and on-demand services sectors.

Who has invested in Deputy?

5 investors have backed Deputy across its funding rounds, including OpenView, IVP, Square Peg Capital, EVP and Express Employment Professionals.

Lead investors include Express Employment Professionals, IVP and OpenView.


Deputy Investors

Investors in Deputy by funding rounds participated
InvestorHQRoundsRoleFirst check
OpenViewUnited StatesBoston, MA2LeadJan 2017
IVPUnited StatesSan Francisco, CA1LeadNov 2018
EVPAustraliaSydney1ParticipantNov 2018

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Deputy Competitors

Deputy competitors include listed companies like Freee and ATOSS Software, and private ones like Happyly, When I Work, Creatio and Employment Hero.

Public and private companies comparable to Deputy
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HappylyUnited StatesWashington, DCPrivate--$1.1B-
When I WorkUnited StatesMinneapolis, MNPrivate--$1.1B-
CreatioUnited StatesBoston, MAPrivate--$1.2B-
Employment HeroAustraliaSydneyPrivate$213M-$1.2B5.6x
FreeeJapanJapanPublicly listed$214M$6M$1.5B4.8x
ATOSS SoftwareGermanyGermanyPublicly listed$218M$84M$1.7B6.4x

Deputy Public Comps

Deputy is still privately-owned, but its public comps include Freee, Teamshares, ATOSS Software, Nordtech Group, Hilan, AdvancedAdvT, Beisen Holding, Zaggle Prepaid Ocean, Asure Software and DHI Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Freee$214M$6M6.3x4.8x237.7x65.4x
Teamshares$472M($23M)1.7x1.4x(35.0x)33.2x
ATOSS Software$218M$84M7.0x6.4x18.2x17.1x
Nordtech Group$72M$15M5.1x-25.2x-
Hilan$993M$154M1.8x-11.9x-
AdvancedAdvT$72M$13M2.5x2.4x14.1x8.9x
Beisen Holding$165M$2M0.3x0.3x22.3x5.2x
Zaggle Prepaid Ocean$199M$20M1.0x1.0x10.4x10.7x

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Common questions about Deputy

When was Deputy founded?Deputy was founded in 2008.
Where is Deputy headquartered?Deputy is headquartered in Sydney, Australia.
Is Deputy publicly listed?No, Deputy is a private, VC-backed company.
What is Deputy's valuation?Deputy was last valued at $1.1B in its strategic investment round in March 2024.
How much funding has Deputy raised?Deputy has raised $143M across 3 funding rounds.
What was Deputy's last funding round?Deputy's last funding round was a $37M strategic investment round in March 2024, led by Express Employment Professionals.
Who are Deputy's investors?Deputy's investors include OpenView, IVP, EVP, Square Peg Capital and Express Employment Professionals.
What is Deputy's revenue?Deputy's latest recorded revenue is $100M (March 2024).
What is Deputy's revenue multiple?Deputy's latest valuation implies a 11.0x revenue multiple ($1.1B valuation on $100M of revenue).
Which companies are comparable to Deputy?Companies comparable to Deputy include Happyly, When I Work, Creatio, Employment Hero, Freee and ATOSS Software.

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