Few tech companies go eight years before raising any significant outside funding. Fewer still manage to become a leading player in their market without support from institutional investors, which makes Deputy Inc. unusual.
The Georgia-based company has established itself as one of the leading names in the employee scheduling market by scoring more than 25,000 enterprise clients since its 2008 launch. To stay ahead in the race amid growing competition from Microsoft Corp. and others, Deputy is raising its first $25 million round of financing today. The investment was provided entirely by expansion-stage fund OpenView.
Deputy will use the capital to widen international adoption of its namesake scheduling service, which provides a straightforward spreadsheet-based interface for coordinating shift workers. A manager can quickly put together an agenda based on their company’s operating hours and assign time slots to employees using drag-and-drop commands.
According to Deputy, its platform displays detailed information on each staffer to ensure organizations are making the most of their human capital. Managers can check how much an employee has worked in a week to see if they’re ready to take on another shift, ensure they’re not exceeding overtime limits and only assign a time slot when every condition is met.
Employees can log their work hours through a client app that doubles as a communications and task allocation tool. New assignments are displayed in real-time to ensure that personnel spend their time as efficiency as possible.
Deputy co-founder Steve Shelley noted in a prepared statement that there’s a broad market for his firm’s technology: Hourly workers represent over half the global workforce. But the business became considerably tighter last year after Microsoft launched its StaffHub service into general availability, thus Deputy’s new funding round to stay in the game.