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Time is Ltd, a SaaS provider for improving workplace productivity and collaboration within teams, has raised $5.6M in a late seed funding round led by Mike Chalfen and others. Ulf Zetterberg will now join the startup as president and co-founder.
Time is Ltd., a startup building SaaS tools for enterprises to improve productivity and collaboration, has announced its raise of $5.6 million in a late seed funding round led by Mike Chalfen. The proceeds will be utilized in driving its product and also for international expansion.
Illuminate Financial Management and existing investor Accel had participated in the funding round. According to Time is Ltd., communications inside corporations have flaws. Employees are overwhelmed with numerous meetings, emails, and other notifications from various chats. Having an understanding of how time is spent in a company can increase productivity. Here is where Time Ltd. enters the picture.
Time Ltd. acquires insights and data (over 400 indicators currently) from the collaboration ecosystem of Microsoft 365, Google Workspace, Zoom, Webex, MS Teams, and Slack, among others, and uses this data to help managers create new approaches to increase productivity, engagement, and collaboration inside companies. Alongside this fundraising, Ulf Zetterberg, founder and former CEO of Seal, will join Time is Ltd. as a co-founder and president.
Jan Rezab, founder and CEO of Time is Ltd., stated understanding collaboration and communication data is the future of understanding the heartbeat of every company. He said,
“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.”
Lauding Time is Ltd.’s data solutions, Mr. Chalfen stated that the startup’s platform makes measuring hybrid and distributed work patterns easy and actionable for organizations.
“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. 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,”Mr. Chalfen added.