AI Timekeeping Startup Laurel Raises $100M to Tackle ‘Time Intelligence’ Gap

Laurel raises $100M in Series C funding to expand its AI timekeeping platform for legal, accounting, and consulting firms aiming to link time with business outcomes.

Key points:

Laurel secures $100M Series C round led by IVP and GV to scale its AI timekeeping platform.
Firm targets ‘time intelligence challenge’ in professional services industries.
Client base spans over 100 top legal, accounting, and consulting firms across five continents.

Laurel, the AI-driven timekeeping platform for professional services, has raised $100 million in Series C funding to scale its technology and further address what it describes as the “time intelligence challenge.” The round was led by venture capital firm IVP, with participation from GV (Google Ventures) and a roster of notable new and returning investors.

Originally founded as Time By Ping in 2016, Laurel pioneered the use of AI to automate time capture for legal professionals. The company has since expanded into accounting and consulting, and now serves more than 100 top-tier firms across North America, Europe, Australia, and the U.K. With 300% year-over-year growth and a diversified client base, its accounting segment now represents half its business.

The latest funding round includes both primary and secondary capital. In addition to IVP and GV, new investors include 01.a (founded by former Twitter and Facebook executives), DST Global, Kevin Weil (OpenAI CPO), Alexis Ohanian, GitHub CTO Vladimir Fedorov, Dropbox co-founder Arash Ferdowsi, and Hans Tung. Return participants include ACME, Anthos, AIX Ventures, Gokul Rajaram, and TIME Ventures.

Ajay Vashee, general partner at IVP, said the timekeeping void represents a substantial inefficiency in the services economy: “Professional services represent trillions in global economic activity, yet these firms operate without basic visibility into their core resource—time.”

CEO and founder Ryan Alshak, a former lawyer, sees this as a foundational issue. “The supply chain of knowledge work has never been surfaced,” Alshak said. “We’re not just automating time—we’re creating the time intelligence layer that will transform how all knowledge industries operate.”

Laurel’s strategy centers on providing law and accounting firms with accurate, AI-driven time data to link work performed with business outcomes, forming a foundation for broader AI deployment. The company was recently named No. 700 on the Inc. 5000 list of fastest-growing U.S. businesses.

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