Laurel Raises $100M Series C to Expand AI Time Platform

Laurel, a San Francisco-based AI-native timekeeping startup, has raised $100 million in a Series C funding round led by IVP, with participation from GV (Google Ventures) and other prominent investors including OpenAI's Kevin Weil, GitHub's Vladimir Fedorov, and Dropbox co-founder Arash Ferdowsi. The company’s AI Time platform uses artificial intelligence to automatically categorize, describe, and analyze how professionals spend their time, particularly in legal, consulting, and accounting firms. By integrating with various software tools, Laurel provides real-time insights into time allocation, helping firms optimize workforce productivity, increase profits by 4-11%, and recover over 28 billable minutes per professional each day. Laurel has experienced rapid growth, with its annual recurring revenue increasing by 300% and expanding its client base to over 100 top professional service firms globally. The funding will be used to scale operations and accelerate development to address the “time intelligence challenge”—the difficulty knowledge industries face in mapping time to business outcomes. Laurel’s platform aims to bring the same level of operational transparency to service-based firms that manufacturing and retail industries have long enjoyed.