Time by Ping, a company whose product is designed to help lawyers capture time automatically, this week announced that it has rebranded the company as Laurel as it expands beyond the legal industry into serving customers in all fields of professional services, including accounting and consulting.
The company, which last year raised $36.5 million in Series B financing, said it is also launching a new brand identity and a reimagined product.
Related: Time By Ping Raises $36.5M Series B; Exclusive LawNext Interview with CEO Ryan Alshak.
This is the second rebranding I have reported this week, following Tuesday’s news that Documate rebranded as Gavel to better reflect its expansion into productization of legal services.
“The years of Time by Ping were formative years for the company, experiences that shaped us in more ways than one,” said Michael Mizono, head of design at Laurel and previously a designer at Nest and Google. “When we move to Laurel, we do so with love and kindness for the past.”
In announcing the new name, the company said that it has recently partnered with a Big 4 accounting firm to provide automated timekeeping and is expanding into marketing to all professional services. It will also continue to expand its footprint in the legal market, it said.
Coincidentally, the news comes as voting is about to close to pick the 15 finalists for Startup Alley at ABA TECHSHOW 2023. Time by Ping was the winner of the very first Startup Alley in 2017.
Ryan Alshak, Laurel’s founder and CEO, said the name refers to the laurel wreath given to winners in poetry and sports dating back to Grecian times.
“Over time, the Laurel name has become associated with victory and achievement,” Alshak said. “We want our software to symbolize professional service workers taking back ownership over their time. When you spend your time intentionally, you feel empowered and in control.”
The Laurel software uses machine learning and automation to automatically capture time for lawyers and other professionals.
“Laurel frees you from the burden of tracking time, so you can focus on experiencing it,” it says on its website. “With our automatic timesheet solution, you’ll gain a complete picture of how your days are spent, giving you the power to make each minute count.”
In an interview for my podcast LawNext, Alshak said he found inspiration for the true mission of the company in the personal challenge he faced as his mother battled brain cancer.
“What I came to realize is that she taught me the power of time, and that a minute with her was worth a million minutes doing anything else,” he told me. “And, when I thought about what we were building, that’s really what resonated with me, was that we’re giving back people time, and they get to go be with their moms or their spouse or their kids. And that’s what the company’s about, and that’s why we’re here.”