AI Time Platform Laurel Raises $100 Million to Transform the Professional Services Industry
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IVP leads and GV, 01A join Series C as Laurel reshapes how professional services firms keep time and optimize work using AI
SAN FRANCISCO, CA – June 10, 2025 – Laurel, the world’s first AI Time platform, today announced it has raised $100 million in Series C funding led by IVP, with participation from GV (Google Ventures) and 01A. Laurel will leverage this investment to scale its AI time platform and accelerate to solve what it calls the “time intelligence challenge"—the inability for knowledge industries to accurately map time to business outcomes. In the age of AI, quantifying and understanding human capital goes from a “nice to have” to a “cannot exist without” for enterprises.
In addition to IVP and GV, new investors in the round, which consists of primary and secondary funding, also include: 01.a (created by former CEO and COO of Twitter & CRO of Facebook), Rahul Mehta (Managing Partner @ DST Global), Kevin Weil (CPO @ OpenAI), Alexis Ohanian, Vladimir Fedorov (CTO @ GitHub), Arash Ferdowsi (co-founder of Dropbox), and Hans Tung. These investors join returning investors ACME, Anthos, Gokul Rajaram, AIX Ventures, and Marc Benioff’s TIME Ventures.
The funding comes as Laurel experiences rapid adoption among enterprise professional services firms like Ernst & Young, and Grant Thornton. Over the last 12 months, Laurel grew ARR +300% at double-digit scale, increased usage by +500%, and works with +100 of the top legal, accounting, and consulting firms across US, UK, EU, Australia, and Canada.
Laurel's AI Time platform, now leveraged by hundreds of the world’s top enterprise professional service firms, uses AI to automatically categorize, describe, and analyze how professionals spend their time on admin work. The platform's ability to connect time data with business outcomes has proven transformative for firms looking to maximize profits, allocate their resources effectively, and understand exactly what workflows to apply AI to and what agents to automate.
Customers using the company’s AI-native time platform report profit increases between 4-11%—driven by an additional 28 billable minutes per day per professional, and increased realization of 1-4%. Laurel's ROI methodology has been independently audited and validated by a Big-4 Firm. The platform currently processes over $5B in gross market value for its customers, and +$360M of that amount is net-new value attributable to Laurel. In addition, Laurel saves its professionals up to 80% in time recording, freeing them to work on high-leverage work.
Key customer results include:
- Average recovery of 28+ billable minutes per professional per day
- 4-11% increase in overall firm profitability
- 80%+ reduction in time spent on manual time entry
- Real-time visibility into project profitability and resource utilization
“While Laurel is unique in that it is AI that generates profits, the reason everyone at Laurel cares so much about solving this problem is because people waste so much time at work, and the only way to solve this at scale is to deeply understand where that time is going,” says Alshak. “And we’re starting with professional services because that will give us the human-in-the-loop required to create the world’s first-ever agentic timesheet. The average knowledge worker works 9 hours a day, but only adds leverage for 3. That is 3 hours a day we’re doing work that should be done by agents, and 3 hours a day we’re doing work that nobody should do. That is our opportunity set – 6.4 billion years currently being spent by knowledge workers on tasks humans no longer need to do. That is our opportunity.”
About Laurel
Laurel is the world’s first AI Time platform for professional services firms. The company's AI transforms how organizations track, analyze, describe, and optimize their most valuable resource: time. By automating work time and connecting time data to business outcomes, Laurel enables firms to increase profitability, improve client delivery, and make data-driven strategic decisions. Founded in 2018, Laurel serves many of the world's largest accounting, consulting and law firms.