The old saying goes, you can’t improve what you can’t measure. A corollary for freelancers is, you can’t improve your bank account if you can’t mesure your time. Toggl, the cloud-based time management tool, tells us it recently hit the milestone of 300 000 registered users. The time tracking tool enables small groups and freelancers to jot down their hours for client projects, and be able to say what they were working on at the time.

The company says that the tool was initially created for our own in-house use because they found existing time-tracking software was far too complicated. Toggl is based in Tallinn, Estonia, and currently has 12 employees.

We covered the company last in January of 2011, and at the time the company told us they had 110 000 registered users. Toggl itself is five years old, but Product Lead Krister Haav says, “Our last 100,000 users we registered in fewer than nine months. To stay competitive in the market we had to make sure Toggl was right for bigger teams and SMEs who are rapidly adopting cloud-based services.”

The pro version of the web-based application runs at $5/user/month, and recently became available as an offline web app in order to hit users who require seamless transitions between online and offline work.

To achieve its 300% growth in revenue, the company tells us they are betting heavily on HTML5 as the new standard for cloud services. Toggl is a fully self-funded company.

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