TimeFlow funding news – Milan-based TimeFlow Secures €4 Million in Funding

The round, funded in part by the European Union-Next Generation EU, was supported by investors such as Vertis SGR, through the Vertis Venture 6 Digital Sud fund, Azimut, through AZIMUT ELTIF Venture Capital ALIcrowd III vehicles and Azimut Venture Capital Digitech Europe and X-Equity strategy funds, both of which have strategic support from FNDX. Moreover, CDP Venture Capital (Fondo Rilancio), Growth Engine, and Duccio Vitali have converted into equity €625k of previously subscribed convertible instruments.

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Growth Capital managed the funding round as a financial advisor through the A-Road program, which selected TimeFlow for its fourth batch. The project was also supported by an equity crowdfunding campaign on Mamacrowd.

Lorenzo Danese, CEO of TimeFlow said, “This important capital raise marks a key milestone for TimeFlow and a strong confirmation of investor confidence in our innovative model. We are excited to accelerate our growth plan and continue offering solutions that digitalise sourcing and workforce management, optimizing resources, reducing search times, and maximising talent potential, Every day, thousands of companies struggle to optimize workforce and IT sourcing management, leading to wasted resources. We set out to change this scenario, and over 1,500 companies have already chosen us to support them in this transformation toward greater operational efficiency.”

TimeFlow has created a unique solution that uses AI to make it easier to find, qualify, and connect with Professional Services suppliers. It helps match recruitment needs with available tech talent and IT skills. The platform works smoothly with clients' existing systems for a better experience.

In the first nine months of 2024, TimeFlow earned over €1 million in revenue and attracted interest from large companies like Engineering and Deloitte.

Giacomo Giurazza, Partner of Vertis SGR, which served as Co-lead investor, added: “We found in TimeFlow a strong drive to innovate the sector by developing a platform that connects companies with IT service providers, and digitalize their supplier management. The key factors that convinced us to invest can be summarized in four points: a growing target market of the scaleup, excellent commercial traction achieved in just over three years, a strong portfolio of high-profile clients, and a young and motivated founding team with diverse expertise. This capital raise will support the scale-up’s development plan, focusing on international expansion, further technological advancements, and strengthening the corporate structure.”

Guido Bocchio, Head of Venture Capital at Azimut Libera Impresa SGR S.p.A., which acted as Co-lead investor through the AZIMUT ELTIF – Venture Capital ALIcrowd III fund, comments: “We firmly believe that the complementarity of skills and experiences within the founding team is a crucial factor in assessing a startup’s potential success. The four founders of Timeflow fully embody this principle, which is why we are pleased with our investment and excited to support the company in its growth and expansion journey.”

Andrea Casati, Vice President at Growth Capital said, “We are proud to have supported TimeFlow in this fundraising round, acting as their sole financial advisor within the A-Road program. Their significant growth, with a 190% CAGR in revenue, confirms the strength of their business model and the value of their innovation in the Workforce & Vendor Management. The strategic support of Duccio Vitali, CEO of Alkemy and A-Road Mentor, has helped accelerate this journey, further solidifying their market position. We are confident that this round marks a turning point for TimeFlow, positioning the company for ambitious new milestones in Italy and abroad,".

In 2024, TimeFlow saw strong growth, reaching €1.5 million in revenue (a 50% increase from 2023) and a 190% annual growth rate from 2022 to 2024.

The platform now has over 1,500 users (a 60% increase from 2023), and the number of large companies using the service to digitalize supplier lists and track workforce efficiency grew by 900%.

TimeFlow plans to add more advanced features to help managers in procurement, sourcing, HR, engineering, projects, and product management.

With the new funding, TimeFlow will add AI-powered tools to the platform and focus on expanding in key markets like the UK, Germany, and France, aiming for €90 million in revenue by 2027.

Danese said, “With TimeFlow, we’ve created a revolutionary system that enhances Workforce and Professional Services Sourcing management for businesses. This capital raise positions us to expand into new markets, enabling us to continue offering innovative and scalable solutions that meet the needs of a rapidly evolving market,”.

About TimeFlow

TimeFlow aims to transform the IT sector with smart software that connects companies needing software developers with IT consulting firms.

The platform looks at the customer's tech needs and the profiles from IT suppliers. Using its own Machine Learning technology, it instantly finds the best match between the two by calculating a compatibility score.