Monterro Makes a Significant Investment in TimeXtender
While Retaining the Leadership Team
Leading growth investor Monterro is investing in the ongoing growth and market leadership of TimeXtender, making a significant investment while retaining the leadership team, to further accelerate the growth of TimeXtender’s low-code data estate builder.
“Monterro is a bunch of super cool people. They have a strong background in software and a partner-driven business model," says 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 better. As Monterro’s Manifesto points out – software is easy to scale - software companies are not. That is why we are partnering.”
TimeXtender founders Heine Krog Iversen and Anne Krog Iversen will remain to lead TimeXtender.
"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," said Heine Krog Iversen.
“We’re very impressed by TimeXtender and the team”, says Martin Henricson, managing director at Monterro and future chairman of the board of TimeXtender. “We see a great potential for the company to scale and accelerate the business even further and look forward to supporting them on our joint journey ahead. Monterro’s extensive experience in building and developing software companies enabling them to become market leaders make our partnership a perfect fit”.
If you were a unicorn, would you ditch the...horn?
It's not just the TimeXtender leadership team that's staying intact.
It's our secret sauce if you will - We're people-first.
We're also fully remote; and we're that way on purpose, not as an afterthought. We focus on output and impact, not hours worked. And we're far more interested in our fellow Xpeople working and making decisions autonomously. The key is that we make those decisions based on direction from, alignment with, and commitment to TimeXtender's core purpose.
We attract top talent from all over the globe. And when that talent gets here, they discover things here are a little bit...different.
That difference? It's rooted in our culture.
Culture has always provided not only 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,” according to Iversen. “It speaks to our firm belief in taking a holistic and future-facing view of humans, work, and life. We want the Xpeople 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 things that make not only a good Xperson, but also a good human being. And ultimately, people do business with people.”
Accelerating the product vision
TimeXtender helps companies build their modern data estate 10x faster with a low-code, drag-and-drop solution for data ingestion & preparation. We call it a “data estate builder.” Just as low-code Content Management Systems and drag-and-drop website builders have led to a dramatic decrease in the amount of time and effort required to build a website, 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.
In other words, we help businesses get the data they need faster so they can do what they need to do faster. Because time matters, after all. (Where have we heard that before?)
”TimeXtender serves a clear and growing market need with a strong product-market fit”, adds Martin Henricson. “The amount of data and data sources is constantly growing and companies worldwide need to collect, manage and analyze data in an easier way”.
TimeXtender’s 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.
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.
We do this for one simple reason: because time matters.
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, founded in 2012, is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders. With operational experience from successfully developing and running companies such as Pointsec, Episerver, Orc Software, and Lime, Monterro actively supports its portfolio companies in all aspects of growth. A substantial part of the fund’s capital, 25%, comes from Monterro’s founders and employees. Monterro is headquartered in Stockholm with offices in Oslo, Munich and Hanoi, Vietnam.
TimeXtender : September 6, 2022
TimeXtender