TimeFlow closes €4 million funding round to expand abroad and develop AI features

Milan-based TimeFlow, a service that automates and optimizes labor force administration and IT supply chain source purchase, reveals the closing of a brand-new EUR4 million financing round.

The round, moneyed partially by the European Union-Next Generation EU, was sustained by financiers such as Vertis SGR, with the Vertis Endeavor 6 Digital Sud fund, Azimut, with AZIMUT ELTIF Financial Backing ALIcrowd III cars and Azimut Equity capital Digitech Europe and X-Equity method funds, both of which have tactical assistance from FNDX. Furthermore, CDP Financial Backing (Fondo Rilancio), Development Engine, and Duccio Vitali have actually exchanged equity EUR625k of formerly subscribed exchangeable tools.

The procedure was collaborated by Development Resources, working as monetary consultant within A-Road, the velocity and fundraising program that picked TimeFlow for its 4th set. In addition, an equity crowdfunding project on Mamacrowd even more improved the job.

“ This vital resources raising notes an essential landmark for TimeFlow and a solid verification of financier self-confidence in our ingenious design. We are delighted to increase our development strategy and proceed supplying remedies that digitalise sourcing and labor force administration, enhancing sources, minimizing search times, and increasing skill possibility,” claims Lorenzo Danese, Chief Executive Officer of TimeFlow. “ Everyday, hundreds of firms battle to maximize labor force and IT sourcing administration, causing lost sources. We laid out to transform this situation, and over 1,500 firms have actually currently selected us to sustain them in this makeover towards better functional performance“

Established In 2020 by Lorenzo Danese, Iacopo Albanese, Gianmarco Ferrante, and Federico Patrioli, TimeFlow intends to turn into one of Italy’s the majority of ingenious firms in the Labor force & Supplier Administration field. With workplaces in Milan and Lecce, a visibility in 5 nations, and over EUR30 million in tasks handled in 2024, the business is developing itself as an essential companion for leading IT multinationals.

The business has actually established an exclusive remedy that leverages AI to simplify the procedure of looking, certifying, and interesting Expert Providers vendors, increasing the suit in between employment requirements, offered Technology Ability, and IT abilities. Its modular system is created to effortlessly incorporate with customers’ application communities for a smooth and optimised experience.

In the very first 9 months of 2024, TimeFlow created over EUR1 million in income, attracting the passion of international firms such as Design and Deloitte.

Giacomo Giurazza, Companion of Vertis SGR, which acted as Co-lead financier, included: “W e located in TimeFlow a solid drive to introduce the field by establishing a system that attaches firms with IT provider, and digitalize their provider administration. The crucial aspects that encouraged us to spend can be summed up in 4 factors: an expanding target audience of the scaleup, outstanding business grip accomplished in simply over 3 years, a solid profile of top-level customers, and a young and inspired beginning group with varied experience. This resources raising will certainly sustain the scale-up’s growth strategy, concentrating on worldwide development, more technical innovations, and reinforcing the business framework“

Guido Bocchio, Head of Financial Backing at Azimut Libera Impresa SGR S.p.A., which worked as Co-lead financier with the AZIMUT ELTIF– Financial Backing ALIcrowd III fund, remarks: “ We strongly think that the complementarity of abilities and experiences within the beginning group is a critical consider evaluating a start-up’s prospective success. The 4 creators of Timeflow totally symbolize this concept, which is why we are pleased with our financial investment and delighted to sustain the business in its development and development trip.“

“ We are honored to have actually sustained TimeFlow in this fundraising round, working as their single monetary consultant within the A-Road program. Their considerable development, with a 190% CAGR in income, validates the toughness of their organization design and the worth of their technology in the Labor force & Supplier Administration. The tactical assistance of Duccio Vitali, Chief Executive Officer of Alkemy and A-Road Advisor, has actually aided increase this trip, more strengthening their market setting. We are certain that this round notes a transforming factor for TimeFlow, placing the business for enthusiastic brand-new turning points in Italy and abroad,” ended Andrea Casati, Vice Head Of State at Development Resources.

In 2024, TimeFlow accomplished considerable development, with approximated incomes of EUR1.5 million (+50% contrasted to 2023) and a CAGR of +190% (2022-2024). The system’s customer base has actually gone beyond 1,500 firms (+60% contrasted to 2023), with an amazing 900% boost in Business customers embracing the Labor force & Supplier Administration remedy to digitalise provider directory sites and keep an eye on labor force performance.

Looking in advance, TimeFlow intends to carry out innovative performances to assist Purchase Managers, Sourcing Supervisors, Human Resources Supervisors, Design Managers, Task Managers, and Item Owners.

Many thanks to the funds increased, TimeFlow prepares to incorporate brand-new AI-powered performances right into the system. At the very same time, the business is concentrated on settling its existence in tactical markets, consisting of the UK, Germany, and France, with the objective of getting to EUR90 million in income by 2027.

“ With TimeFlow, we have actually produced an advanced system that improves Labor force and Expert Providers Sourcing administration for companies. This resources raising placements us to increase right into brand-new markets, allowing us to proceed supplying ingenious and scalable remedies that satisfy the requirements of a quickly advancing market,” ends Danese

The article TimeFlow closes €4 million funding round to expand abroad and develop AI features showed up initially on EU-Startups.