Bangladeshi-founded Aussie Firm Valued over $1B1 min read

Founded by Bangladeshi immigrant Ashik Ahmed, Deputy, a leading software company specializing in workforce management, has soared past the coveted $1 billion valuation mark, earning the prestigious title of a ‘unicorn’ company, fueled by a recent $37 million infusion from Express Employment Professionals, a prominent US-based staffing firm.

This substantial investment marks Deputy’s first external funding in six years, catapulting it to become Australia’s first private tech ‘unicorn‘ since 2022. The endorsement from Express Employment Professionals, initially explored as a potential client, underscores Deputy’s exceptional service quality and market potential, propelling its valuation to exceed $1.1 billion.

Ashik Ahmed’s journey with Deputy traces back to his youth, where his firsthand experience as a shift worker at Hungry Jack’s ignited his entrepreneurial vision for revolutionizing workforce organization. Teaming up with entrepreneur Steve Shelley, Ahmed founded Deputy in 2008, introducing innovative tech-driven solutions for managing and communicating shift schedules.

The appointment of Silvija Martincevic, former chief commercial officer of US-based Affirm, as Deputy’s CEO in 2023, marked a pivotal moment for the company. Under Martincevic’s leadership, along with Ahmed’s transition to the board alongside Shelley, Deputy has demonstrated remarkable financial performance, culminating in its first profitable year ending June 30, 2023, with annual revenue exceeding $100 million.

Deputy’s remarkable trajectory exemplifies the potential for disruptive innovation within Australia’s tech landscape. With its visionary leadership, innovative solutions, and strategic partnerships, Deputy continues to pave the way for transformative advancements in workforce management, solidifying its position as a trailblazer in the global tech arena.

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