TimeTac, an HR tech scale-up from Graz, showed off its time tracking this week and announced two big innovations.
Graz (OTS) – The Styrian company not only presented a strategic partner with Maguar Capital from Munich, but will also strengthen and further expand the Graz location under new operational management. Since its founding in 2009, TimeTac has been a rapidly growing SaaS company with a focus on cloud-based time recording. With time 70 employees from 16 different countries TimeTac serves a broad medium-sized customer base of more than 3,800 companies in 30 countries worldwide. Over 150,000 employees use the software every day. For the first time we could 10 million euros annual turnover (Annual Recurring Revenue), all of this without an investor. A milestone that only 4 out of 1,000 “Software as a Service” companies worldwide achieve. The current course is set for further sustainable growth.
Bernd Pichlbauer, founder and CEO of TimeTac, on the innovations: “The partnership with Maguar Capital is a strategic step forward for us and will accelerate our growth path thanks to Maguar’s expertise in HR software.
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With the help of Maguar Capital’s investment and network, TimeTac will further expand its strong market position in German-speaking countries and enter new international markets. To this end, existing jobs will not only be secured in the middle of Graz city center, but new ones will also be created: by the end of the year 90 employees be busy in the office on Schmiedgasse – including a breathtaking view of the Schlossberg from the spacious roof terrace.
Change in company management – continuation of the success story
TimeTac was founded in 2009 and, under the leadership of Bernd Pichlbauer, Michael Hermann and Tanja Pichlbauer, has developed into the leading provider of time recording software in German-speaking countries in recent years.
While COO and CO-Founder Michael Hermann would like to concentrate on projects outside of TimeTac from the middle of the year, Bernd and Tanja Pichlbauer will hand over their operational activities by the end of the year in order to fully focus on the strategic direction of the company in the future. The trio will continue to have a significant stake in the company. Thanks to far-sighted personnel development, you can draw on the potential in your own team when it comes to leadership succession: The current Head of Growth, Christoph Lücklwill lead the fortunes of TimeTac as CEO in the future. Michael Mauthneran early employee and current Head of Software Development, complements the new operational management as CTO.
Christoph Lückl and Michael Mauthner: “Through years of collaboration, we know our team and can rely on an outstanding corporate culture. As a reliable employer in Graz, we are pleased to continue to drive forward the expansion and internationalization of the company.
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Questions & Contact:
If you have any questions, please contact Bernd Pichlbauer on +43 316 587142-150 and bernd.pichlbauer@timetac.com available.