We built loggable to monitor our development projects, to see where we were spending most of our time and to use the data to help with quoting future projects.
It worked so well we opened it up to the world and after a bit of user feedback rebuilt it to what it is today.
I was put off signing up because there are 5 whole fields that I have to write something in... that and I'm not really looking for anything like this, but still... 5!
Good question, Freshbooks is a complete accounting solution. Loggable is focussed on time analysis enabling you to retrospectively manage your time and improve. We use a variety of other software such as Basecamp and Xero for Project Management and Accountancy and wanted a simple tool to manage our time spent on development projects.