Memory, an Oslo, Norway-based AI startup providing an automatic time tracking app, raised US$5m in funding.
The round was led by Investinor and UK venture capital fund Concentric, with participation from existing investor SNÖ Ventures.
The company intends to use the funds to further develop the AI functionality of Timely, its first product, as well as hiring more than 30 people over the coming months.
Founded by Norwegian entrepreneur Mathias Mikkelsen, Memory pursues a vision of an AI-enabled future, seeking to create tools that make it easier to control time use in the modern workplace.
Timely, its time tracking app to increase productivity, is currently used by more than 4,000 paying businesses across 160 countries.