Italian workforce management startup TimeFlow has raised €4 million. 

Founded in 2020, the company has developed a platform that automates and optimises resource management and procurement processes in the IT supply chain. 

Its proprietary solution 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. 

Today, TimeFlow has offices in Milan and Lecce and operates in five countries, managing over €30 million in projects in 2024 while collaborating with some of the most important multinational companies in the IT market.

In the first nine months of 2024, TimeFlow generated over €1 million in revenue.

The round, funded partly by the European Union-Next Generation EU, was supported by a pool of investors such as Vertis SGR, Azimut, and X-Equity strategy funds. CDP Venture Capital (Fondo Rilancio), Growth Engine, and Duccio Vitali converted €625k of previously subscribed convertible instruments into equity.

Additionally, an equity crowdfunding campaign on Mamacrowd further boosted the project. 

With offices in Milan and Lecce, a presence in five countries, and over €30 million in projects managed in 2024, the company has established itself as a key partner for leading IT multinationals.

According to Lorenzo Danese, CEO of TimeFlow:

“Thousands of companies struggle to optimise workforce and IT sourcing management every day, 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.”

Giacomo Giurazza, Partner of Vertis SGR, added: 

“We found in TimeFlow a strong drive to innovate the sector by developing a platform that connects companies with IT service providers and digitalises their supplier management. 

The key factors that convinced us to invest are: 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.”

TimeFlow plans to integrate new AI-powered functionalities into the platform and consolidate its presence in strategic markets, including the UK, Germany, and France, to reach €90 million in revenue by 2027.

Lead image: TimeFlow. Photo: uncredited.