Danish TimeXtender joins forces with Monterro to accelerate growth.

Leading Nordic growth investor Monterro has acquired a majority stake of TimeXtender and added expansion capital to accelerate the growth of TimeXtender’s low-code data estate builder with the aim to become a market leader.

-“Monterro is a bunch of super cool people with strong backgrounds in software and partner-driven business models”, says Heine Krog Iversen, founder and CEO of TimeXtender. “We share the same vision and ambitions for TimeXtender and are exceedingly enthusiastic about taking the next step on our journey with them”.

TimeXtender helps companies manage data 10x faster at a lower cost

TimeXtender has developed a leading data estate builder that helps companies build their modern data estate 10x faster with a low-code, drag-and-drop solution for data ingestion & preparation. It 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.

- “We’re impressed by the team at TimeXtender and its’ innovative solution”, says Martin Henricson, managing director at Monterro and future chairman of the board at TimeXtender. “What’s even more exciting, is that there’s still a lot of potential to scale and develop the business further. Our background in running and developing software companies for years makes our partnership a perfect fit. We really look forward to supporting them on their growth journey”.

Scaling the business with partners and continued product development

TimeXtender has an extensive global partner network that sells and implement its’ solution to mid-sized enterprises from various industries such as consumer goods, health providers, and bank & finance, across the globe. And the market for managing data is growing.

- “TimeXtender serves a clear and growing market need with a strong product-market fit”, says Martin Henricson. “The increasing amount of data and data sources make it crucial for companies worldwide to be able to collect, manage and analyze their data in an easier way.”

- “It’s time for TimeXtender to take the next step on our journey and scale the company so we can continue to serve our growing number of partners and customers while continuing to innovate at a higher speed“, says Heine Krog Iversen. "As Monterro’s Manifesto points out – software is easy to scale - software companies are not. That is why we are partnering.”

Monterro has acquired a majority stake in TimeXtender, but the founders will reinvest majority of their shares and remain leaders of the company.

For more information, please contact:
Martin Henricson, managing director at Monterro and future chairman of the board at TimeXtender +46 (0)70 995 08 73 | martin.henricson@monterro.com

Heine Krog Iversen, founder and CEO of TimeXtender: +1 (425) 229 0991 | +45 20 68 17 94 hki@timextender.com

About TimeXtender

Making the right decisions in any company is crucial for both short and long-term success and sustainability. Data is a critical component, and many companies believe in being data-driven. The reality is, that we all have bias, and we all have things we believe in - anything from how to design products, act in the world, communicate and set up our organizations. This is all driven by mind and heart, and it is what makes one company stand out from another. The old saying goes, “you get what you measure,” and this is where we strive every day to help with better access to relevant data. But any decision regarding what we will measure and how is not driven by data, but by people with purpose, beliefs and gut feeling. So we believe that data, mind, and heart need to go hand in hand to make the best possible decisions. Timextender.com