Turbo-charging the Future: Replicon Raises Millions in New Capital to Accelerate Growth and Expand Global Operations

Turbo-charging the Future

Replicon was founded in 1996 to help companies better manage their time and billing, and ensure greater insight into business performance. Since then, we have grown to become the industry-leading provider of cloud-based time and cost tracking products and solutions that are now used by an astounding 1.5 million people in 7,800 organizations around the world.

Over the past few years, demand for cloud-based enterprise tools has soared, as businesses of all sizes traded their inefficient paper-based time and cost tracking systems for cloud-based time and attendance software solutions. Fueled by this surge in demand for cloud-based services, Replicon expects to grow revenues by 60% to 80% over the next 2 years.

This is why, for the very first time in our 17 year history, we decided to raise outside funding to power this expansion—and to help the company accelerate its already aggressive growth, move into new markets, and increase our footprint within the explosive enterprise marketplace.

To that end, Replicon’s co-founders and co-CEOs Raj Narayanaswamy and Lakshmi Raj turned to Emergence Capital Partners and The Social+Capital Partnership to help the company get to the next level of success. The $20 million Series A round of financing will be used to support this growth and expansion as we extend our reach internationally, and scale our cloud-based timesheet and expense management offerings into the EMEA and APAC markets.

“We’re honored that these investors share our vision for the next generation of Enterprise 3.0 applications,” says Replicon’s Raj Narayanaswamy. “Given their strong track record in working with some of the best SaaS, enterprise, and social companies today, we look forward to closely working with them to build on our success.”

Agrees Lakshmi Raj: “We’re delighted to partner with such like-minded business innovators who truly understand how to take SaaS and enterprise companies to the next level. Their investment and support during this exciting growth phase will ensure that we successfully meet the growing demand for our cloud-based solutions worldwide.”

ABOUT THE AUTHOR
Karen Bell
Get started today.
Set up a free trial based on your business needs. Start Free Trial

Top Challenges that Large Services Organizations Need to Tackle Now

Unforeseen market dynamics, the rise of disruptive technologies, new business models, and global competition are transforming the business landscape, especially large services organizations. As revenue growth slows down, professional services…Read More

Top 5 Mobile Timesheets On the Go to Make You More Productive in 2022

Time tracking software is the backbone of every company when it comes to recording time and attendance as well as project management. The demand for such software is always increasing…Read More

How can Large Service Organizations Maximize Resource Utilization to Drive Higher Project Profitability

Large services organizations are facing several challenges in their business. On one hand, they need to maintain a flexible hybrid workplace that supports collaborations and can bridge the gap and…Read More

Using shared services? These five technologies are a must

As organizations continue to scrutinize operating costs and look for areas to drive efficiencies, shared services centers (SSCs) are a no-brainer. The concept of a multi-function SSC has been around…Read More

Employee time tracking is dead

iBeacons, Bluetooth Low Energy, Proximity sensing and the obsolescence of time tracking as we know it. Businesses have to track the time their employees work for a variety of reasons,…Read More

Reducing Absenteeism with Effective Time Management and Absence Tracking

Workplace absenteeism is a major concern for American companies. According to the US Bureau of Labor Statistics, unplanned absences cost American businesses an average of 2.8 million workdays every year,…Read More
  • Polaris
  • Time & Project Insights
  • Time & Projects Solutions
  • Replicon Products
  • Replicon Users
  • Enterprise Time Tracking
  • Cloud
  • Corporate
  • Professional Services Management
  • Shared Services Management
  • Time and Attendance Management
  • Customer Feature
  • Time Intelligence
  • Industry News
  • Global Compliance Updates
  • Others