REDWOOD CITY, CA — 01/09/14 — Replicon, the leading provider of cloud-based time tracking software, has announced that 2013 was a record-making year. In addition to releasing the latest generation of the Replicon time tracking platform and Replicon Mobile, the company reeled in $20 million in new funding, expanded globally, and grew its customer base.
“Replicon is well-positioned as the cloud time-tracking leader going into 2014,” said Raj Narayanaswamy, co-founder and co-CEO of Replicon. “We recognized the growing importance of treating time as an enterprise asset, and provided businesses with the ability to view, monitor and capture that time in order to become truly modern organizations. Today, companies around the world are seeing the value of this, and we must work aggressively to keep up with demand. I anticipate that 2014 will be a year where we break even more records.”
Replicon planted the seeds for its rapid expansion with two significant new product releases. The new Replicon time tracking application modernizes any time-tracking process, helping customers comply with labor regulations, manage project costs, eliminate timesheet errors and drive efficiencies with the elimination of manual payroll and client billing processes. Mobile availability helps take the hassle out of filling out timesheets by enabling the modern, on-the-go workforce access to all the features of Replicon.
Strong market demand, combined with a $20 million Series A round of funding led by Emergence Capital Partners and The Social+Capital Partnership, drove an expansion into the Australia, New Zealand and EMEA markets. Replicon’s new offices in Sydney and London will help support Replicon’s goals over the next 2 years.
Replicon also grew its impressive global customer roster in 2013 to include Corporater, Follett Corporation, Institute of Transportation Engineers, Monash University, Paul Smith, Sharp Electronics Corporation, Sudlows, UCLA School of Law, and USDA.
Throughout 2014, Replicon will be hosting webinars and personal development opportunities for its customers, partners and those interested in furthering their human resource knowledge. The first webinar, titled “Employment Law Developments for 2014: What’s New and What’s Changed in the New Year?” will be with guest speaker R. Brian Dixon of Littler Mendelson, an employment and labor law firm. The webinar will take place on Thursday, January 9 at 9 AM PT and will address the 2014 changes to employment and labor regulations.