TimeTac, a leading SaaS provider, specializes in time-tracking and workforce management software for small and medium-sized businesses in the DACH region. Their offerings encompass mission-critical functions such as legally compliant, complex work time tracking, including surcharge and hourly wage calculations and payroll integrations, project time management, and workforce management. With over 3,800 satisfied customers and 70 employees, TimeTac has consistently delivered profitable growth since 2009. Leveraging a scalable cloud-native technology platform from their Graz office, TimeTac is well-positioned for continued success in the ever-evolving landscape of workforce management software.
Based on the company’s vision “Across the Globe We Help to Use Time in a Meaningful Way”, TimeTac improves transparency in organisations and enables teams around the world to find time for the things that really matter. Maguar’s investment will support the company’s continued organic and inorganic growth plans, leveraging its strong regional market position and innovative and easy-to-use software solutions.
Bernd Pichlbauer, Founder and CEO of TimeTac, said: “The partnership with Maguar Capital is a strategic step forward for us and will enable us to further accelerate our growth trajectory. Their deep understanding of the HR software landscape as well as their commitment to our vision assures me that we are on the right track to achieve our ambitious goals. This is especially relevant in light of the ongoing regulatory discussions around mandatory time tracking for basically all companies in Germany”.
Industry: HR Software
Status: Current majority ownership, Co-investment
Investment Date: 2023
Fund: Maguar Fund 2