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.
“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 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”.
Accelerating the product vision
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.
”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 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.
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.