After 17 Years In Business, Expense Management SaaS Replicon Raises $20M
June 28, 2013
Grazed from TechCrunch. Author: Leena Rao.
Replicon, the developer of a cloud time tracking and expense management application, has raised $20 million Series A funding led by The Social + Capital Partnership and Emergence Capital Partners. This is actually the first time in the company’s 17-year history of raising money from institutional investors.
Co-founders Raj Narayanaswamy and Lakshmi Raj have largely bootstrapped the SaaS company on their own since its inception in 1996. Replicon’s products allow you to track project time and expenses, client billing, employee work schedules, and employee time and attendance. The company was originally founded in Canada but moved to Silicon Valley three years ago…
TimeSheet Project & Billing allows users to track project time and costs and create reports based off of this data. Managers can monitor project/task progress, actual vs. estimated hours/cost, and billing amounts. Users can track hours worked for both salaried and hourly employees, manage time off, set accrual policies, manage overtime rules, run attendance and payroll reports, and integrate with other payroll software…
Read more from the source @ http://techcrunch.com/2013/06/28/after-17-years-in-business-expense-management-saas-replicon-raises-20m-in-series-a-funding-from-social-capital-and-emergence/