Laurel, the world’s first AI Time platform, announced it has raised $100 million in Series C funding led by IVP, with participation from GV (Google Ventures). Along with IVP and GV, new investors in the round, which consists of primary and secondary funding, also include: 01.a (created by former CEO and COO of Twitter & CRO of Facebook), Rahul Mehta (Managing Partner at DST Global), Kevin Weil (CPO at OpenAI), Alexis Ohanian, Vladimir Fedorov (CTO at GitHub), Arash Ferdowsi (co-founder of Dropbox), and Hans Tung. These investors join returning investors ACME, Anthos, Gokul Rajaram, AIX Ventures, and Marc Benioff’s TIME Ventures.
How the funding will be used: Laurel will utilize this investment to scale its AI time platform and accelerate to solve what it calls the time intelligence challenge— which is the inability for knowledge industries to map time to business outcomes accurately. In the current state of AI, quantifying and understanding human capital goes from a nice to have to a cannot exist without for enterprises.
Momentum: The funding comes as Laurel experiences rapid adoption among enterprise professional services firms, such as Ernst & Young, Grant Thornton, and Crowell & Moring. In the last year, Laurel grew its annual recurring revenue (ARR) by over 300% at double-digit scale, increased usage by +500%, and works with +100 of the top legal, accounting, and consulting firms across the US, UK, EU, Australia, and Canada.
AI Time Platform: Laurel’s AI Time platform, now utilized by hundreds of the world’s top enterprise professional service firms, uses AI to automatically categorize, describe, and analyze how professionals spend their time on admin work. The platform’s ability to connect time data with business outcomes has proven transformative for firms seeking to maximize profits, allocate resources effectively, and determine precisely which workflows to apply AI to and which agents to automate.
Customers: Laurel’s ROI methodology has been independently audited and validated by a Big-4 Firm. The platform currently processes over $5 billion in gross market value for its customers, and over $360 million of that amount is net-new value attributable to Laurel. In addition, Laurel saves its professionals up to 80% in time recording, freeing them to work on high-leverage work.
The key customer results include:
— Average recovery of 28+ billable minutes per professional per day
— 4% to 11% increase in overall firm profitability
— Over 80% reduction in time spent on manual time entry
— Real-time visibility into project profitability and resource utilization
KEY QUOTES:
“Laurel uniquely delivers value across lawyers, clients, finance, and marketing by streamlining time capture, enriching narratives, and accelerating accurate billing. As firms assess the impact of AI and fixed fees, gaining granular intelligence with less effort is essential to redefining value within a firm and for its clients.”
David Cunningham, Chief Innovation Officer at global law firm Reed Smith
“I’ve seen first-hand how Laurel can transform our approach to time intelligence. What used to be a manual process of time-keeping and entry is now significantly technology enabled. Laurel doesn’t just help our people to capture time that they spend on work more comprehensively; it helps us to understand much more about how our teams work allowing us to identify best practices to help ensure we always drive the best outcomes for our clients. It has proven to be one of our most impactful AI investments, delivering measurable results while laying the foundation for broader transformation initiatives.”
Matt Newnes, Partner and Tax Transformation leader at Ernst & Young
“Nobody has ever mapped the input of time to the output of outcomes. Industries like legal and accounting are best at understanding their input (time), but still struggle to price value. On the flip side, industries like consulting and financial services understand value, but operate blind to the true cost of creation. While all other industries have been obsessed about optimizing their supply chain, the supply chain of knowledge work—which represents over 50% of Global GDP—has never been surfaced. This funding helps us solve this fundamental challenge while giving firms the data foundation they need to deploy AI strategically. We’re not just automating time—we’re creating the time intelligence layer that will transform how all knowledge industries operate.”
“While Laurel is unique in that it is AI that generates profits, the reason everyone at Laurel cares so much about solving this problem is because people waste so much time at work, and the only way to solve this at scale is to deeply understand where that time is going. And we’re starting with professional services because that will give us the human-in-the-loop required to create the world’s first-ever agentic timesheet. The average knowledge worker works 9 hours a day, but only adds leverage for 3. That is 3 hours a day we’re doing work that should be done by agents, and 3 hours a day we’re doing work that nobody should do. That is our opportunity set – 6.4 billion years currently being spent by knowledge workers on tasks humans no longer need to do. That is our opportunity.”
Ryan Alshak, founder and CEO of Laurel
“Laurel has identified one of the largest efficiency gaps in the modern economy, one I understand deeply as a former CFO of a public company. Professional services represent trillions in global economic activity, yet these firms operate without basic visibility into their core resource – time. By solving the time intelligence challenge, Laurel creates a platform for broader AI transformation. As these industries invest heavily in AI over the next five years, Laurel’s data foundation becomes essential infrastructure that truly tracks the ROI of AI. The market opportunity is massive, and Laurel’s unique position makes them the clear leader in this space.”
Ajay Vashee, General Partner at IVP
“Laurel is creating the enterprise intelligence layer for knowledge work that leverages timekeeping as a product wedge. By capturing and organizing the full lifecycle of how professionals spend their time, Laurel unlocks a new class of data that makes work itself measurable, optimizable, and automatable. The goal isn’t just better time tracking, it’s building the data foundation for AI-powered workflows, predictive resourcing, and strategic insights.”
Frederique Dame, General Partner at GV
