Laurel, the AI-native time tracking platform, has raised $100 million in Series C funding to expand its mission of solving the "time intelligence" problem for knowledge-based industries. The round was led by IVP, with significant participation from GV (Google Ventures) and included both primary and secondary components.
Alongside IVP and GV, new investors in the round include 01.a (founded by former Twitter and Facebook execs), DST Global, Kevin Weil (CPO at OpenAI), Alexis Ohanian, Vladimir Fedorov (GitHub CTO), Arash Ferdowsi (Dropbox co-founder), and Hans Tung. They join returning backers ACME, Anthos, Gokul Rajaram, AIX Ventures, and Marc Benioff’s TIME Ventures.
Laurel’s funding comes amid surging adoption of its platform by major players in law, accounting, and consulting—including Ernst & Young, Grant Thornton, Freshfields, and Crowell & Moring. Over the past year, Laurel grew its ARR by over 300%, usage by 500%, and now works with over 100 of the top professional service firms across North America, Europe, and Australia.
Despite massive investments in AI, knowledge industries have lacked visibility into how time—one of their most valuable resources—is actually spent. Laurel tackles this gap by providing real-time insights into time allocation, helping firms optimize workforce output and make better business decisions.
The fresh capital will be used to scale the platform, deepen product capabilities, and expand internationally. Laurel plans to keep growing its footprint across legal, accounting, and consulting sectors while also introducing tools that align AI deployment with real business value.
In practice, Laurel automates and analyzes time data to show how firms can recover an average of 28 billable minutes per day per professional, boost profit margins by 4–11%, and save up to 80% of time spent on manual entry. The platform currently handles $5 billion in gross market value, with over $360 million in new value directly attributed to Laurel's AI system.
Founded in 2018, Laurel positions itself not just as a time-tracking tool, but as the data infrastructure that helps organizations run smarter. Its platform analyzes how time connects to outcomes—helping leaders understand where to apply AI, which workflows to automate, and where to double down on human effort.
CEO Ryan Alshak calls this the "time intelligence layer"—an operating system for professional services firms where time becomes both measurable and actionable. With AI spend in knowledge industries expected to exceed $1 trillion in the next five years, Laurel aims to ensure these investments actually drive value.
“Laurel uniquely delivers value across lawyers, clients, finance, and marketing by streamlining time capture, enriching narratives, and accelerating accurate billing,” says Reed Cunningham, Chief Innovation Officer at Reed Smith.
“It has proven to be one of our most impactful AI investments,” adds Matt Newnes, Partner at Ernst & Young. “Laurel helps us understand much more about how our teams work, allowing us to identify best practices and deliver better outcomes.”
Beyond IVP and GV, the investor lineup brings a blend of AI, software, and professional services experience. Notably, Ajay Vashee of IVP, a former CFO, emphasized Laurel’s potential as critical infrastructure: “Professional services represent trillions in global activity, yet operate without basic visibility into their core resource—time.”
Frederique Dame, General Partner at GV, highlighted how Laurel’s platform enables firms to not just track time, but use it to fuel AI-powered workflows, predictive resource planning, and strategic business insights.
With this round, Laurel’s backers reinforce its position at the intersection of AI and enterprise productivity.
