{"id":8978,"date":"2022-07-11T10:14:06","date_gmt":"2022-07-11T10:14:06","guid":{"rendered":"https:\/\/gateway.ventures\/startups\/timebro\/"},"modified":"2023-02-09T09:09:53","modified_gmt":"2023-02-09T09:09:53","slug":"timebro","status":"publish","type":"startups","link":"https:\/\/gateway.ventures\/en\/startups\/timebro\/","title":{"rendered":"timeBro"},"author":17,"featured_media":21085,"template":"","meta":[],"startup_status":[36],"investment_focus":[54],"class_list":["post-8978","startups","type-startups","status-publish","has-post-thumbnail","hentry","startup_status-funded-en","investment_focus-digitaleconomy"],"acf":{"logo":8391,"show_stage":["Yes"],"stage":"Pre Series-A","show_niche":["Yes"],"niche":"Digital Economy","closing_month_year":"March 2023","female_founder":[],"location":"Munich, DE","website":"https:\/\/www.timebro.com\/","demo_video_url":"","meet-up_lp_link":" https:\/\/gateway.ventures\/events\/timebro\/","calendly_code":"https:\/\/calendly.com\/gatewayventures\/timebro-gateway-ventures-investor-founder-meetup?hide_event_type_details=1&hide_gdpr_banner=1&month=2023-02","calendly_code_Kopie":"","oneline_description":"Automated activity tracking for businesses.","description":"<h3>What speaks for an investment<\/h3>\r\nGrowth: monthly Revenue (MRR) tripled in 2022\r\nForecast: Full pipeline (945 inquiries from companies)\r\nTiming: New sales partnership with DATEV (!)\r\nSecurity: Profitable even without investment in Q4 '23\r\nCo-investors: among others top investor Heinz Raufer (Flixbus)","problem":"Lawyers, tax consultants, agencies, IT companies. They all record time for projects and customers. Although employee time is their most important resource, they usually have to rely on their gut feeling for planning and billing - which not only costs them revenue, but also capacity. The reason is an open secret: times are poorly recorded.\r\n<ul>\r\n \t<li>According to surveys, a halfway realistic recording costs 10-40 min. daily.<\/li>\r\n \t<li>According to the study, despite this effort, the accuracy is only 36-67%.<\/li>\r\n<\/ul>","solution":"timeBro automatically records all programs that are being worked with and displays the workday as a timeline - so employees can see at a glance how long they have been working on which projects.","market":"<ul>\r\n \t<li>TAM: \u20ac34.6 billion\/year | SAM: \u20ac12.6 billion\/year | SOM: \u20ac10.6 billion\/year<\/li>\r\n \t<li>Customers in over 50 industries | Top 3 (approx. 50%) = law firms, agencies, IT teams<\/li>\r\n<\/ul>","usp":"<ul>\r\n \t<li>Offline tool, i.e. no data is stored in the cloud. This means that there are no data protection issues and monitoring is impossible.<\/li>\r\n \t<li>Employees save ~75% effort for time recording. That's an average of 6 working days per person per year.<\/li>\r\n \t<li>Time tracking accuracy is increased up to 95%, enabling revenue and capacity optimization.<\/li>\r\n \t<li>Seamless API integration with existing infrastructure. So there is no need to change the ERP software used so far.<\/li>\r\n<\/ul>","business_model":"<ul>\r\n \t<li>Software as a Service (SaaS) with subscription model (3\/12\/24 months).<\/li>\r\n \t<li>Three product variants: Basic\/Connect\/Premium (10\u20ac-30\u20ac).<\/li>\r\n<\/ul>","traction":"<ul>\r\n \t<li>Growth (MRR) 2022 = 204%.<\/li>\r\n \t<li>CAC:LTV = 1:4<\/li>\r\n \t<li>Over 2,900 B2B customers in 78 countries<\/li>\r\n \t<li>945 inquiries from companies wanting to integrate timeBro<\/li>\r\n \t<li>Series A in Q3 '23 - or break-even in Q4 '23<\/li>\r\n<\/ul>","exit_potential":"The exit is preprogrammed. Two serious M&A offers were received in 2022 alone. Due to its add-on character and global distribution, timeBro is on the radar of many private equity firms in USA, UK and DACH. Because any major ERP or project software in the world would immediately upgrade their time tracking and would have strategic advantages as well as huge upselling potential through an acquisition.","nrofcoinvestors":"","tm_1_name":"Arne Reimann","tm_2_name":"Mislav Boras","tm_3_name":"Niclas Preisner","tm_4_name":"Bastian Brodbeck","tm_1_position":"CEO","tm_2_position":"Head of IT","tm_3_position":"CMO","tm_4_position":"Head of Dev","image_-_team_member_1":21198,"image_-_team_member_2":8253,"image_-_team_member_3":8251,"image_-_team_member_4":21200,"deal_link":"https:\/\/gateway.ventures\/d\/de\/investment-opportunities\/timebro","founder_group_image":null,"why_we_invested_in_this_startup":"","dealcaptain_opinion":"","stoop":"Yes","pb":"No","investment_terms":"<ul>\r\n \t<li>Gateway: Wandeldarlehen bis EUR 300.000<\/li>\r\n \t<li>Cap: EUR 10 Mio.<\/li>\r\n \t<li>Discount bei fr\u00fcher Wandlung (innerhalb von 2 Monaten nach Signing Wandeldarlehen): 10 %<\/li>\r\n \t<li>Discount bei sp\u00e4ter Wandlung (bis F\u00e4lligkeitsdatum): 20 %<\/li>\r\n \t<li>F\u00e4lligkeitsdatum: 12 Monate nach Unterzeichnung des Wandeldarlehens<\/li>\r\n \t<li>Bewertung F\u00e4lligkeitsdatum: EUR 7 Mio.<\/li>\r\n \t<li>Zinssatz: 5% p.a.<\/li>\r\n \t<li>Closing: M\u00e4rz\/April 2023<\/li>\r\n \t<li>Mindest. Ticket \/ Investor: EUR 10.000<\/li>\r\n<\/ul>","traction_image":21316,"hide_socials":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>timeBro - Gateway Ventures<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gateway.ventures\/en\/startups\/timebro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"timeBro - Gateway Ventures\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gateway.ventures\/en\/startups\/timebro\/\" \/>\n<meta property=\"og:site_name\" content=\"Gateway Ventures\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-09T09:09:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gateway.ventures\/wp-content\/uploads\/2022\/07\/One-Pager_schrift_logo-oben.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2481\" \/>\n\t<meta property=\"og:image:height\" content=\"615\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gateway.ventures\/en\/startups\/timebro\/\",\"url\":\"https:\/\/gateway.ventures\/en\/startups\/timebro\/\",\"name\":\"timeBro - 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