Productivity analytics startup Time is Ltd wants to be Google Analytics for business time. Or maybe some sort of “Apple screen time” for business. Either way, the founders believe that if you can map how time is spent in a business, huge productivity gains can be unlocked and money better spent.
He has now raised a $ 5.6 million late start-up financing round led by Mike Chalfen of London-based Chalfen Ventures with participation from Illuminate Financial Management and existing investor Accel. Acequia Capital and former Seal Software chairman Paul Sallaberry are also contributing to the new cycle, as is former Seal board member Clark Golestani. In addition, Ulf Zetterberg, founder and former CEO of contract discovery and analysis company Seal Software, joins as president and co-founder.
The company is the latest from serial entrepreneur Jan Rezab, best known for founding SocialBakers, which was acquired last year.
We all know about inefficient meetings, intrusive notification chat, video conferencing tools, and the deluge of emails. Time is Ltd. announced its intention to solve this problem by acquiring information and data platforms such as Microsoft 365, Google Workspace, Zoom, Webex, MS Teams, Slack, etc. The data and information gathered would then help managers understand and adopt a new approach to measuring productivity, engagement and collaboration, according to the startup.
The startup claims to have now gathered 400 indicators from which companies can choose. For example, a task defined by the Wall Street Journal for Time is Ltd. revealed that Slack users’ average response time to emails was 16.3 minutes, compared to 72 minutes for emails.
Chalfen commented, “Measuring hybrid and distributed work models is essential for every business. The platform of Time Is Ltd. makes these metrics readily available and actionable for so many different types of organizations that I think it could improve the functioning of all businesses around the world.
Rezab said, “The ability to analyze these types of collaboration and communication data in a privacy-compliant manner, alongside existing business metrics, is the future of understanding every business’s heartbeat – I think. that in 10 years we will examine how we could have ignored the information from these platforms.
Tomas Cupr, Founder and CEO of Rohlik Group, Europe’s leading online grocery store, said: “In addition to our traditional BI approaches using performance data, we use Time is Ltd. how we work both internally and with our suppliers – data provided by Time is Ltd. are essential for business leaders.