TimeFlow closes €4 million funding round to expand abroad and develop AI features

Milan-based TimeFlow, a solution that automates and optimises workforce management and IT supply chain resource procurement, announces the closing of a new €4 million funding round. The round, funded in part by the European Union-Next Generation EU, was supported by investors such as Vertis SGR, through the Vertis Venture 6 Digital Sud fund, Azimut, through […] The post TimeFlow closes €4 million funding round to expand abroad and develop AI features appeared first on EU-Startups.

Feb 17, 2025 - 14:07

TimeFlow closes €4 million funding round to expand abroad and develop AI features

Milan-based TimeFlow, a solution that automates and optimises workforce management and IT supply chain resource procurement, announces the closing of a new €4 million funding round.

The round, funded in part by the European Union-Next Generation EU, was supported by investors such as Vertis SGR, through the Vertis Venture 6 Digital Sud fund, Azimut, through AZIMUT ELTIF Venture Capital ALIcrowd III vehicles and Azimut Venture Capital Digitech Europe and X-Equity strategy funds, both of which have strategic support from FNDX. Moreover, CDP Venture Capital (Fondo Rilancio), Growth Engine, and Duccio Vitali have converted into equity €625k of previously subscribed convertible instruments.

The operation was coordinated by Growth Capital, acting as financial advisor within A-Road, the acceleration and fundraising programme that selected TimeFlow for its fourth batch. Additionally, an equity crowdfunding campaign on Mamacrowd further boosted the project.

“This important capital raise marks a key milestone for TimeFlow and a strong confirmation of investor confidence in our innovative model. We are excited to accelerate our growth plan and continue offering solutions that digitalise sourcing and workforce management, optimizing resources, reducing search times, and maximising talent potential,” says Lorenzo Danese, CEO of TimeFlow. “Every day, thousands of companies struggle to optimize workforce and IT sourcing management, leading to wasted resources. We set out to change this scenario, and over 1,500 companies have already chosen us to support them in this transformation toward greater operational efficiency.”

Founded in 2020 by Lorenzo Danese, Iacopo Albanese, Gianmarco Ferrante, and Federico Patrioli, TimeFlow aims to become one of Italy’s most innovative companies in the Workforce & Vendor Management sector. With offices in Milan and Lecce, a presence in five countries, and over €30 million in projects managed in 2024, the company is establishing itself as a key partner for leading IT multinationals.

The company has developed a proprietary solution that leverages AI to streamline the process of searching, qualifying, and engaging Professional Services suppliers, accelerating the match between recruitment needs, available Tech Talent, and IT skills. Its modular platform is designed to seamlessly integrate with clients’ application ecosystems for a smooth and optimised experience.

In the first nine months of 2024, TimeFlow generated over €1 million in revenue, drawing the interest of multinational companies such as Engineering and Deloitte.

Giacomo Giurazza, Partner of Vertis SGR, which served as Co-lead investor, added: “We found in TimeFlow a strong drive to innovate the sector by developing a platform that connects companies with IT service providers, and digitalize their supplier management. The key factors that convinced us to invest can be summarized in four points: a growing target market of the scaleup, excellent commercial traction achieved in just over three years, a strong portfolio of high-profile clients, and a young and motivated founding team with diverse expertise. This capital raise will support the scale-up’s development plan, focusing on international expansion, further technological advancements, and strengthening the corporate structure.”

Guido Bocchio, Head of Venture Capital at Azimut Libera Impresa SGR S.p.A., which acted as Co-lead investor through the AZIMUT ELTIF – Venture Capital ALIcrowd III fund, comments: “We firmly believe that the complementarity of skills and experiences within the founding team is a crucial factor in assessing a startup’s potential success. The four founders of Timeflow fully embody this principle, which is why we are pleased with our investment and excited to support the company in its growth and expansion journey.”

“We are proud to have supported TimeFlow in this fundraising round, acting as their sole financial advisor within the A-Road program. Their significant growth, with a 190% CAGR in revenue, confirms the strength of their business model and the value of their innovation in the Workforce & Vendor Management. The strategic support of Duccio Vitali, CEO of Alkemy and A-Road Mentor, has helped accelerate this journey, further solidifying their market position. We are confident that this round marks a turning point for TimeFlow, positioning the company for ambitious new milestones in Italy and abroad,” concluded Andrea Casati, Vice President at Growth Capital.

In 2024, TimeFlow achieved significant growth, with estimated revenues of €1.5 million (+50% compared to 2023) and a CAGR of +190% (2022-2024). The platform’s user base has surpassed 1,500 companies (+60% compared to 2023), with a remarkable 900% increase in Enterprise clients adopting the Workforce & Vendor Management solution to digitalise supplier directories and monitor workforce efficiency.

Looking ahead, TimeFlow aims to implement advanced functionalities to aid Procurement Managers, Sourcing Managers, HR Directors, Engineering Managers, Project Managers, and Product Owners.

Thanks to the funds raised, TimeFlow plans to integrate new AI-powered functionalities into the platform. At the same time, the company is focused on consolidating its presence in strategic markets, including the UK, Germany, and France, with the goal of reaching €90 million in revenue by 2027.

“With TimeFlow, we’ve created a revolutionary system that enhances Workforce and Professional Services Sourcing management for businesses. This capital raise positions us to expand into new markets, enabling us to continue offering innovative and scalable solutions that meet the needs of a rapidly evolving market,” concludes Danese.

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