We present an exponential time integration method for the incompressible Navier–Stokes equation. An essential step in our procedure is the treatment of the pressure by applying a divergence-free projection to the momentum equation. The differential-algebraic equation for the discrete velocity and pressure is then reduced to a conventional ordinary differential equation that can be solved with the proposed exponential integrator. A promising feature of exponential time integration is its potential time parallelism within the Paraexp algorithm. We demonstrate that our approach leads to parallel speedup assuming negligible parallel communication.