Time is Ltd, a productivity analytics firm for managers and teams, has raised $5.6 million in seed funding. Mike Chalfen of Chalfen Ventures led the round with participation from Illuminate Financial Management and existing investor Accel.
10th June, 2021 – Time is Ltd., the leading productivity analytics firm for managers and teams, has today announced its $5.6 million late seed funding round. The round was led by Mike Chalfen, of London-based Chalfen Ventures, who specializes in early stage software investing, with participation from Illuminate Financial Management and existing investor Accel. The company has also announced that Ulf Zetterberg, founder and former CEO of contract discovery and analytics company Seal Software, will be joining Time is Ltd. as President and co-founder.
The world of collaboration and communication inside corporations is flawed, with employees overwhelmed with inefficient meetings, a wealth of notifications from various chat and video conferencing tools and a huge amount of emails.
To help solve this, Time is Ltd. is the only company in the world at this scale that can acquire insights and data from the collaboration ecosystem of Microsoft 365, Google Workspace, but also Zoom, Webex, MS Teams, Slack, and more. Through this data, the solution enables managers to understand complex collaboration data to help create a new approach to measuring productivity, engagement, and collaboration inside companies. The data and insights now include more than 400 indicators that companies can choose from. Time is Ltd. also has a Time is Ltd. for Teams App to help managers set and manage their own team goals. For a recent article, The Wall Street Journal turned to Time is Ltd. to assess the average response time for Slack users vs. email in an article revealing the downside of over-communicating at work, which was 16.3 minutes, comparing to emails which was 72 minutes.
Ulf Zetterberg, based out of NYC, will be responsible for sales, partnerships, and go-to-market strategy. With more than 25 years of experience in the software industry, Ulf is a growth-oriented global leader with a strong track record of building and scaling enterprise software businesses. Ulf’s latest success as a founder was the 2020 sale of the contract analytics firm Seal to Docusign for $188M. Prior to Seal, Ulf held senior executive positions at OpenText, Legato, EMC, Kazeon, and Proact.
Chalfen’s enthusiasm for Time is Ltd.’s mission is based on the firm’s unique data solutions required amid a global transformation of work: “Measuring hybrid and distributed work patterns is critical for every business. Time Is Ltd.’s platform makes such measurement easily available and actionable for so many different types of organizations that I believe it could make work better for every business in the world,” said Chalfen. “I have the rare opportunity of backing two serial entrepreneurs who have joined forces in a single team, now that Ulf Zetterberg has joined Jan Rezab to grow Time Is Ltd.,” Chalfen added. “Being the partner to an amazing team creating a potentially huge and meaningful market is what I am in venture capital to do, so I could not be more excited.”
“The opportunity to analyze these kinds of collaboration and communication data in a privacy-compliant way alongside existing business metrics is the future of understanding the heartbeat of every company – I believe in 10 years time we will be looking at how we could have ignored insights from these platforms”, says Jan Rezab, CEO and Co-founder of Time is Ltd.
“Alongside our traditional BI approaches using performance data, we use Time is Ltd. to help improve the way we collaborate in our teams and improve the way we work both internally and with our vendors – data that Time is Ltd. provides is a must-have for business leaders”, says Tomas Cupr, Founder & Group CEO of Rohlik Group, the European leader of e-grocery.
Acequia Capital, former Seal Software chairman Paul Sallaberry are also contributing to the new round of funding, and former Seal board member Clark Golestani..
Ulf Zetterberg joins the founding team of Jan Rezab and Cyril Höschl to complete the full circle to the capabilities of the founding team – adding strong proven go to market capability to the product and tech foundation
Both Jan Rezab’s Socialbakers and Ulf Zetterberg’s Seal Software companies sold in 2020
About Time is Ltd.
Time is Ltd. builds SaaS tools for managers to help measure improved productivity and support healthy collaboration in bigger teams and enterprises. Using the data from the entire spectrum of communication tools like Calendars, Emails, Video Calling tools, and Corporate Chats (Slack, MS Teams), we have the ability to analyze collaboration trends and patterns inside and outside of the businesses. We have strict privacy in mind every step of the process – to give the company trust in the way we do things. We deliver our clients easy-to-read dashboards to highlight key collaboration metrics to allow managers to optimize their teams’ time. And to help a company at scale, Time is Ltd. deploys its Time is Ltd. for Teams app to managers to help set and improve different productivity topics. We help clients with measuring transformations, hybrid collaboration, change in network for new hires, employee well-being, and more. Time is Ltd. has the #3 global app in Google Workspace Marketplace in the HR category.