IVP, which has big investments in Twitter and Slack, has made its first Aussie investment, ploughing $111 million into local workforce management software company Deputy in one of the country's largest venture capital raises on record.

Deputy, which was founded in 2008 in Sydney's Sutherland Shire and was self-funded until January 2017, provides software to companies with lots of casuals, contractors and shift workers. The technology makes it easier for companies to communicate with their staff, as well as manage scheduling, timesheets and performance management requirements.