BELLEVUE, Wash.--(BUSINESS WIRE)--TimeXtender®, a global software company enabling data integration and preparation from multiple data sources to support advanced analytics and artificial intelligence (AI), today announced that it has received a significant investment from Monterro, a leading Nordic B2B software investor, to further accelerate the growth of TimeXtender’s low-code, data estate builder. TimeXtender’s Founders Heine Krog Iversen and Anne Krog Iversen will remain on board to lead the company.
“We’re impressed by the team at TimeXtender and its innovative solution,” says Martin Henricson, managing director at Monterro and future chairman of the board at TimeXtender. “What’s even more exciting is that there’s still a lot of potential to scale and develop the business further. Our background in running and developing software companies for years makes our partnership a perfect fit. We really look forward to supporting them on their growth journey.”
TimeXtender CEO Heine Krog Iversen believes that the timing was right to leverage Monterro’s strong background, knowledge and resources in software and partner-driven business models.
“Monterro is a bunch of super cool people. They have a strong background in software and a partner-driven business model,” said Heine Krog Iversen, founder and CEO of TimeXtender. “Monterro and TimeXtender share the same vision and ambitions for TimeXtender, and we are exceedingly enthusiastic about taking the next step on our journey with Monterro.
“It was time for the next step on TimeXtender's growth journey. We needed to scale for at least three reasons. First, the more business we do, the greater positive impact we can have related to our core purpose. Second, we can innovate faster. And third, we can better serve our growing partner and customer community. As Monterro’s Manifesto points out – software is easy to scale - software companies are not. That is why we are partnering.”
Accelerating TimeXtender’s Product Fit in Global Marketplace
“TimeXtender serves a clear and growing market need with a strong product-market fit,” says Martin Henricson. “The increasing amount of data and data sources make it crucial for companies worldwide to be able to collect, manage and analyze their data in an easier way.”
TimeXtender helps companies build their modern data estate 10x faster with a low-code, drag-and-drop solution for data ingestion and preparation. TimeXtender calls this a “data estate builder.” TimeXtender’s low-code, data management solution now enables data engineers to build data infrastructure and pipelines very quickly using a drag-and-drop interface. This leads to helping businesses and organization get their data substantially faster so that they can focus on and achieve other strategic business initiatives.
The data estate builder seamlessly overlays a customer’s data storage infrastructure, connects to any data source, and integrates all the necessary powerful data preparation capabilities into a simple, unified, drag-and-drop solution.
Furthermore, TimeXtender automatically generates all code and documentation (which reduces build costs by 70%); frees data teams from manual, repetitive tasks; and empowers BI and analytics experts to easily create their own data products. TimeXtender does this for one simple reason: because time matters.
Leveraging its Award-Winning Company Culture
The culture at TimeXtender provides the foundation for the business but also the context within which it thrives. Co-Founder and Chief Culture & DNA Officer Anne Krog Iversen leads the strategic charge in regard to the cultural ethos at TimeXtender.
“’Data, mind, and heart’ is more than a tagline for us at TimeXtender,” said Anne Krog Iversen. “It speaks to our firm belief in taking a holistic and future-facing view of humans, work, and life. We want the Xpeople (what we call ourselves at TimeXtender) to bring their whole selves to the work. We ask them to be curious, brave, and humble—these are some of our core values—because these are traits that make not only a good Xperson, but also a good human being. And ultimately, people do business with people.”
TimeXtender is fully distributed and fully remote. The company has won several business awards for its advanced organizational model which is focused on output rather than hours worked and encourages the Xpeople to work and make decisions autonomously.
"I'm looking forward to continuing to lead TimeXtender and the Xpeople on our journey to empower the world with data, mind, and heart. We have the exciting opportunity to leverage the knowledge and resources of Monterro. Together we can build an even stronger company: one that benefits the Xpeople, our partners, our customers, and the world around us," concluded Heine Krog Iversen.
For more information, visit www.timextender.com.
About TimeXtender
Making the right decisions in any company is crucial for both short- and long-term success and sustainability. Data is a critical component, and many companies believe in being data-driven. The reality is, that we all have bias, and we all have things we believe in - anything from how to design products, act in the world, communicate and set up our organizations. This is all driven by mind and heart, and it is what makes one company stand out from another. The old saying goes, “you get what you measure,” and this is where we strive every day to help with better access to relevant data. But any decision regarding what we will measure and how is not driven by data, but by people with purpose, beliefs and gut feeling. So we believe that data, mind, and heart need to go hand in hand to make the best possible decisions.
TimeXtender, through its data estate builder, empowers you to implement a modern data estate 10x faster with a simple, drag-and-drop user interface for ingesting and preparing data for analysis. It seamlessly overlays and unifies your data infrastructure, connects to 250+ data sources, and provides all the powerful data preparation capabilities you need in a unified, secure, future-proof solution. The underlying code is generated automatically, which reduces build costs by 70%, frees data engineers from tedious, repetitive tasks, and provides less-technical business users with a no-code experience for creating their own data products. We do this for one simple reason: because time matters.
About Monterro
Monterro is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders and global players within their niches. Our team has successfully developed and led companies such as Pointsec, Episerver and Orc Software – and we bring this operational experience to the Monterro portfolio, supporting the companies in all aspects of growth. We also bring significant financial commitment to our partnerships, with 30% of capital coming from our partners and employees.
