(SaaS) startup memtime has closed a seven-figure funding round
The Series A round is led by BayBG as lead investor and co-investor Bayern Kapital. Gateway Ventures and the business angels Dr. Heinz Raufer and Stephan Berendsen also participated from the existing investors.
Buy-side
Series A-F
Buy-side
Series A-F
Summary
The Munich-based software-as-a-service (SaaS) startup memtime, which specializes in automatic time tracking software has successfully completed a funding round with invaluable support from BitFlow GmbH's Tech Due Diligence. This comprehensive examination covered critical aspects, including Team & Skills, Processes, Technology & Tools, and Architecture & Code.
The team at memtime is revolutionizing the way service providers record their time for projects. The company's activity tracking software allows all work activities in programs, documents, emails, calendars and on websites to be recorded fully automatically. Users thus get a comprehensive visualization of their workday.
Memtime plans to use the capital to significantly develop the software, strengthen its market position and expand into new markets.
About memtime
memtime (formerly timeBro) was founded in 2015 at the renowned Strascheg Center for Entrepreneurship at Munich University of Applied Sciences.
The big advantage of their software: the focus on data protection and privacy.
Users from over 90 countries currently use the SaaS solution. The customer base includes agencies, consulting firms, IT teams, tax consultants and law firms.
About BayBG
With its venture capital team, BayBG Bayerische Beteiligungsgesellschaft mbH, Munich (BayBG) invests in tech start-ups from Series A onwards. The venture capital portfolio currently consists of 37 technology companies. With an invested volume of 400 million euros, BayBG is one of the largest investment companies in Germany. In addition to venture capital for start-ups, BayBG offers medium-sized companies equity capital (equity and/or mezzanine) across all company phases and financing occasions. BayBG thus enables the implementation of innovation and growth projects, the optimisation of the capital structure or the regulation of corporate succession.
About Bayern Kapitel
Bayern Kapital is Bavaria’s venture capital and growth investor for start-ups with innovative technologies since 1995. From the approximately 700 million euros investment volume they manage, they finance innovative Bavarian start-ups and technology companies from the seed phase to the expansion phase.
They invest in start-ups in all fields of technology, including biotechnology / life science, software & IT, medical technology, new materials, nanotechnology and environmental technology and have already supported more than 300 Bavarian high-tech companies.
About BitFlow GmbH
We are a team of passionate tech specialists and business experts. Our customers value our work for being thorough, precise, and because we offer a deep-dive analysis of a company’s digital assets.
With our modular Tech Due Diligence report, we offer private equity and venture capital investors a flexible way to truly understand their target and pinpoint potential risks and opportunities for improvement and scalability, even before the investment is complete.Wir sind Vorreiter im Bereich der digitalen
We are at the forefront of the digital investment sphere and create a bridge between business, technology and our investors. De-risk your tech-investment with BitFlow.
