May 19, 2020   SOURCE: PR NewsWire

Timecentric Inc. Acquires Time Rack

RALEIGH, N.C., May 19, 2020 /PRNewswire/ -- Timecentric Inc, an HR tech investment group focused on early stage technologies that show high growth potential, today announced the completion of the acquisition of Time Rack Inc., a nationwide provider of time and labor management software. 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.

Headquartered in CA, Time Rack will become the first acquisition for Timecentric and will become the central focus of the executive team led by Adam Day and Greg Javins. Both Adam and Greg have a combined 40+ years of experience in the HCM space with a heavy focus on time and labor management, and will be leveraging longstanding relationships within the staffing and payroll industries.

"We are delighted to welcome the customers and employees of Time Rack to the Timecentric family," said Adam Day, President and CEO, Timecentric. "Time Rack's talented team along with our leadership and investment will create a market leading solution for our partners and customers. We are excited about the opportunity to leverage existing business relationships within the industry and deliver innovative and forward-thinking products and services."

As part of Timecentric, Time Rack's current customers and partners will benefit from a growth-focused mindset that will allow Time Rack's software platform to evolve faster with changes in the marketplace, customer requests, and innovations in technology.

    --  Time Rack 365 is its flagship 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 much more.
    --  Time Rack's open API framework allows for seamless integration with an
        employer's payroll system and other third-party technology providers to
        deliver a unified experience for customers.

"During these unknown times today relating to Covid-19 and work from home, we are equally excited to be able to retain and expand the team currently in place." said Greg Javins, Executive Vice President, "This will allow us to adapt even more quickly to the current economy and provide assistance for our customers during these unprecedented times."

"Adam Day is a great choice for leadership, and I'm confident in handing him Time Rack's reins. He's the right person to lead the company to continued growth and success." Summer Pelotti, interim President Time Rack.

About Timecentric Inc.:

Timecentric Inc. 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.

Contact
Farra Lanzer
240107@email4pr.com
970-541-3284

View original content to download multimedia:http://www.prnewswire.com/news-releases/timecentric-inc-acquires-time-rack-301061475.html

SOURCE Timecentric, Inc.