Timebro (now Memtime) was founded in 2015 by Arne Reimann, Mislav Boras, Niclas Preisner, and Klaus Preisner. The SCE spin-off offers software that records work activities in programs, documents, emails, calendars, and websites. Users receive comprehensive visualization of their work day. Businesses that need to precisely allocate working time to individual projects also benefit. At the same time, Timebro emphasizes a focus on data protection and privacy, since the offline tool stores all data exclusively locally on users’ devices.
The startup has now successfully closed its Series A funding round and raised a seven-figure amount. The round is led by BayBG as lead investor and co-investor Bayern Kapital. Gateway Ventures and business angels Heinz Raufer and Stephan Berendsen from the circle of existing investors also participated. Memtime plans to use the funds primarily to 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 analytics platform that goes far beyond project time tracking in the service sector. As efficiency gains through artificial intelligence advance, every company in the future must be able to better understand how our human intelligence and time are being used. This fresh capital and our combined expertise will enable us to significantly advance 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 for time tracking”
BayBG Investment Manager Alois Ganter explains:
“We are pleased that we were able to participate as lead investor in Memtime’s Series A funding round. The founding team convinced us with its outstanding customer focus and effectiveness as well as the innovative product, which is scalable to numerous applications. The investment will enable the founding team to inspire even more customers worldwide.”
And Monika Steger, managing director of Bayern Kapital, adds:
“Memtime has a clear vision to become the standard for time tracking. The scalable business model offers great potential for time savings and is particularly distinguished by its impressive integration functionality. With just a few clicks, Memtime can be seamlessly integrated into existing project software, enabling companies to design their time tracking efficiently. We see a clear competitive advantage and are convinced that Memtime is on track to achieve its ambitious goals.”
