Memory Raises $5m To Bring AI to Time Tracking

Memory, a Norwegian startup and maker of time tracking app Timely, has raised $5 million in funding. The round was led by Concentric and Investinor, and included investment from existing investor SNÖ Ventures.

Timely, is a fully automatic time tracking tool that is powered by AI. It automatically records everything employees work on and then creates an accurate time sheet.Timely is currently used by more than 4,000 paying businesses across 160 countries. 

Memory will use the new funding to double its current 30-person team. It also plans on refining Timely’s AI model and to accelerate international growth.

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