Timebro (now Memtime) was founded in 2015 by Arne Reimann, Mislav Boras, Niclas Preisner, and Klaus Preisner. The SCE spin-off offers software that allows work activities to be recorded in programs, documents, emails, calendars, and on websites. This provides users with a comprehensive visualization of their workday. Companies that require precise allocation of working time to individual projects also benefit. At the same time, Timebro promises a focus on data protection and privacy, as all data in this offline tool is stored exclusively locally on users' devices.
The startup has now successfully completed its Series A financing round, raising a seven-figure sum. The round is led by BayBG as lead investor and co-investor Bayern Kapital. Gateway Ventures and business angels Heinz Raufer and Stephan Berendsen also participated from existing investors. Memtime intends to use the funds primarily to further expand its customer base.
CEO and Co-Founder Arne Reimann says:
"With BayBG and Bayern Kapital, we welcome two renowned investors who share our vision of a time usage analysis platform that goes far beyond project time tracking in the service sector. As efficiency increases through artificial intelligence, every company in the future must be able to better understand how our human intelligence and time are being used. The fresh capital and our combined expertise will enable us to significantly further develop the software. At the same time, we want to strengthen our market position by introducing our technology to new target markets and driving customer acquisition."
“Memtime has a clear vision to become the standard in time tracking”
BayBG Investment Manager Alois Ganter explained:
"We are delighted to have participated as lead investor in Memtime's Series A financing round. The founding team impressed us with their outstanding customer focus and effectiveness, as well as their innovative product that is scalable across numerous application areas. This investment will enable the founding team to delight even more customers worldwide."
And Monika Steger, Managing Director of Bayern Kapital, adds:
"Memtime has a clear vision of becoming the standard for time tracking. Its scalable business model offers significant time-saving potential and is particularly distinguished by its impressive integration capabilities. With just a few clicks, Memtime can be seamlessly integrated into existing project software, enabling companies to streamline their time tracking. We see a clear competitive advantage and are convinced that Memtime is well on its way to achieving its ambitious goals."
