Timely offers a cross-platform time-tracking app (desktop, iOS, Apple Watch) that integrates with other business tools. The product is used by 750 paying customers in 40 countries. The company was bootstrapped until this round and says it has grown a substantial user base and revenue. Timely plans to expand the product and hire staff to build new features. The startup will join the 500 Nordics Distro Dojo accelerator in Stockholm later this month. Investors say the product speaks for itself and that the funding will support the app’s next phase of development. Timely provides a high-level, calendar-centered approach to time management: users estimate time for upcoming work, run timers to verify actual time spent, and can enter billing rates to calculate client charges. The app imports meetings and events from calendars (currently via iCal links) and plans a future update to allow direct calendar logins to simplify import and privacy issues. It has been available on iOS and the web for about six months and is built by a six-person team. Timely is free for individuals with limits on project count, while paid team plans start at $49 per month for five users. The company reports adoption by roughly 13,000 companies achieved with essentially no marketing budget. Timely’s CEO Mathias Mikkelsen says recent grant money will be used to roll out new features that remove steps from the workflow.

Total raised

$1M

Funding rounds

2

Latest round

Seed

Latest activity

May 2016