Timecentric, Inc., a Raleigh, N.C.-based HR tech investment group focused on early stage technologies that show high growth potential, completed the acquisition of Time Rack Inc., a CA-based provider of time and labor management software.
The amount of the deal was not disclosed.
Time Rack provides Time Rack 365, a time and labor management solution that allows employers to define business rules for their organization and track and calculate the hours worked by their workforce. TR 365 provides a myriad of data collection options ranging from the web, biometrics, badge, proximity and geolocation for secure data management. The platform is designed for both direct and channel sales providing partners with centralized dashboards, along with white labeling and master reseller options. Time Rack HR allows human resource departments to centralize all related employee data management and human resource related processes. These processes range from employee onboarding, certification management, expense management, position management, benefit management, secure document management and more. Its open API framework allows for integration with an employer’s payroll system and other third-party technology providers to deliver a unified experience for customers.
Under a software-as-a-service subscription model, Time Rack serves small to mid-sized businesses across a broad set of industries throughout the United States.
Led by Adam Day and Greg Javins, Timecentric is an HR tech investment firm focused on efficiency and high growth technologies led by Adam Day, Bill Loss, Andy Burdsall, and Greg Javins. Each lead investor brings extensive experience in the areas of payroll, HR, finance, and technology.