Time is Limited, a productivity software analytics company, has raised a EUR3 million investment led by Mike Chalfen with participation from Accel.
The investment will be used to continue building the platform for big enterprises that want to approach productivity by recognising the key patterns that drive it.
Productivity is often top of mind for companies and employees alike. For example, according to a study by HBR in 2017, 71 per cent of meetings are deemed unproductive by CEOs and top managers. This has created a wave of productivity software tools over the past few years, with each one addressing very specific tasks. The result is a fragmented market, isolated individual users, and a managerial and administrative headache for organisations, without solving productivity for the company overall
Time is Ltd. was founded in 2017 to improve the everyday productivity of large corporations and companies. An easy to integrate solution for companies which are going through the process of adopting a diverse number of cloud tools, it allows them to understand the performance data behind their productivity. Powered by machine learning, the platform brings the data from a number of tools, such as Office 365, G Suite, and Slack, amongst others, together in one. By unlocking the hidden gems in this combined data, it reveals a company’s successful working patterns and allows organisations to operate more effectively.
Chalfen says: “The team and opportunity at Time Is Ltd. are exactly what I look for as an early stage investor. I love finding great teams building valuable new data-driven services that can be created using significant but under-utilised datasets. Productivity is one of the largest software markets globally, but lacks deep enterprise analytics to drive intelligent operational management for large businesses. I am excited to partner with the exceptional team of serial entrepreneurs at Time Is Ltd. to fill that important gap with an elegant new analytics platform.” Mike will join the Time Is Ltd. board.
“Productivity is a key priority for all enterprise executives. With the Time is Ltd. platform, we aim to bring insights that help enterprises improve their productivity and through this increase employee satisfaction. No-one wants unproductive meetings or to spend their time navigating insights from multiple tools and apps,” says Jan Rezab, CEO of Time is Ltd.
Luca Bocchio, Investor at Accel, says: “Time is Ltd aims to solve a pain point felt by organisations and their employees around the world – unproductive time at work. Leveraging their impressive experience in analytics and productivity, Jan and Cyril came up with a smart and easily deployed solution that provides insights from existing data derived from multiple software tools and enables organisations to make better use of their time. I am excited to partner with this team from the very beginning.”
Time is Ltd was founded in Prague by serial entrepreneurs Jan Rezab, who previously founded Socialbakers, one of the world’s largest social marketing and analytics companies, and Cyril Höschl, who is the author of Sociomapping software.
