Appointment Scheduling Software

Shareholding: 3.8%
First Investment: June 2014

Timely appointment software is a one-stop shop for service-based businesses. The platform allows businesses to manage schedule, staff, clients, sales, reporting and much more. Timely is a highly regarded company amongst the early stage community, with second-time round founders, a high performing team and a focus on simplicity and usability for their end users.

Timely provides appointment booking services to beauty salons, hairdressers, spas, consultants and personal trainers, and are a copybook SaaS company in the spirit of Xero and Vend. The service is a full front and back office platform to roster staff, take bookings, keep client records, send reminders, book appointments online and provides reporting and analytics.

Timely is used by over 30,000 practitioners in 94 countries. Timely has a remote working approach with staff based in several centres, including Dunedin, Auckland, Wellington and the United States.

The company was founded by Ryan Baker and Andrew Schofield in December 2011 and since then has grown significantly, boasting staff spread across a number of different locations including its headquarters in Dunedin.

Punakaiki Fund led Timely’s second external investment round, investing for an initial 4.71% stake in the company. This investment was matched by a professional private investor who was also an early investor in Xero and Vend. In August 2014, former Trade Me Chief Operating Officer Michael O’Donnell invested and, along with first-round investor Rowan Simpson, joined the two main founders on the Timely Board. In April 2015, Timely purchased its United Kingdom distributor in a small cash and shares deal. These transactions diluted Punakaiki Fund’s interest in Timely slightly to 4.7%.

The last major external investment was in November 2017, with a $7 million investment by Movac, leading to a slight dilution of Punakaiki Fund’s shareholdings to 3.8%. Punakaiki Fund did not invest in this round. LCWM receives regular updates from Timely, and provided early advice on board membership, pricing and focus, while Timely founders and senior staff have been active in LWCM founder sessions.

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