Puma Private Equity invests £5m into developer marketplace, Deazy
Puma Private Equity has invested £5 million into Deazy, a software developer marketplace platform. Founded in 2016, Deazy connects businesses with high-quality development teams. It works with handpicked teams comprising more than 3,000 developers, providing broad technical expertise and greater capacity and flexibility.
Deazy will use the funding to scale its commercial teams to accelerate growth, double down on its platform vision and further build out its development teams.
Deazy grew by 2.5x in 2021, an increase attributable to its model, technology and ability to execute along with the increasing demand for developers globally following the pandemic. In addition, the IR35 legislation change has made it more challenging for companies to access software developers, and Deazy’s compatibility with this is a key advantage.
The business’s clients range from enterprises to VC-backed scale-ups and some of Europe’s biggest agencies. It is about to complete its transition to enable a self-serve platform-based experience, meaning every project and interaction will be managed via the Deazy platform, enabling a more efficient and scalable model.
This investment round will enable Deazy to scale out a team to drive even faster growth in a high demand segment for development talent. Deazy also plans to hire a Chief Product Officer with high profile marketplace credentials to sustain the delivery of a market-leading platform experience.
“There is a long-term skills gap in technology and our platform makes it easy for organisations to fill that gap – that’s what’s been powering our growth and what will see us grow even faster in the future. We’ve spent 2022 developing our proposition and building the team so that the company is ready for further growth during 2023.”
“This is a true moment in time for Deazy,” continued Andy. “Our shift to a platform and marketplace business has opened up incredible opportunities for our clients and delivery partners, and in doing so, also for Deazy as we bring efficiencies to a global problem. Over the next 12 months, we want to scale significantly into this opportunity without compromising on the cultural values or trusted partnerships we’ve built to date.”
Kelvin Reader, Investment Director at Puma Private Equity
“Deazy now works in over 25 countries around the world and has more than 5,000 developers in its ecosystem. We have been working closely with it in refining its strategy and helping it to recruit key staff members to support its growth ambitions. We believe Deazy is the perfect delivery partner for a growing number of companies that need flexible, scalable, on-demand services.”