memtime raises seven-figure Series A investment

SCE start-up Alumni memtime GmbH, formerly timeBro, which specializes in automatic time tracking software in the Software-as-a-Service (SaaS) sector, has successfully closed a seven-figure Series A financing round. The round was led by BayBG as lead investor and Bayern Kapital as co-investor. Other investors include Gateway Ventures as well as renowned business angels such as Dr. Heinz Raufer, who has invested in Flixbus, among others, and Stephan Berendsen, who is already one of the existing investors, according to an article in VC Magazin.

Data protection and integration are the particular strengths of memtime software. The big advantage of the tracking software: the focus on data protection and privacy. As an offline tool, memtime stores all data exclusively locally on users' devices. In addition, the software solution stands out for its integration capabilities: memtime can be seamlessly integrated into various project management tools, ERP systems and billing solutions with an open interface.

memtime, which was then called timeBro, was founded in 2015 at the renowned Strascheg Center for Entrepreneurship at Munich University of Applied Sciences and has since revolutionized the way service providers record their time for projects. Click here to read the full article in Venture Capital Magazine.