Productivity analytics startup Time is Ltd wants to be the Google Analytics for Company Time. Or maybe a sort of “Apple Screen Time” for companies. Whatever the case, the founders believe that if you can map how much time is spent at a company, huge productivity gains can be unlocked and money better spent.
With participation from Illuminate Financial Management and existing investor Accel, it has now raised a $5.6 million late seed funding round led by Mike Shelfan of London-based Shelfan Ventures. Esquia Capital and former SEAL Software president Paul Sallaberry are also contributing to the new round, as is Clark Golestani, a former SEAL board member. In addition, Ulf Zetterberg, founder and former CEO of contract discovery and analytics company Seal Software, is joining as chairman and co-founder.
The venture is the latest of serial entrepreneur Jan Rezab, best known for founding SocialBakers, which was acquired last year.
We are all familiar with inefficient meetings, annoying notification chats, video conferencing tools and the flood of emails. Time Is Limited says it plans to address this by acquiring insights and data platforms such as Microsoft 365, Google Workspace, Zoom, Webex, MS Teams, Slack and others. The startup says the data and insights collected will help managers understand and adopt a new approach to measuring productivity, engagement and collaboration.
The startup says it has now collected 400 indicators that companies can choose from. For example, a task set by The Wall Street Journal for Time Ltd found that the average response time for Slack users versus email was 16.3 minutes, compared to email at 72 minutes.
Chaffen commented: “Measurement of hybrid and distributed work patterns is important for every business. Time Is Ltd’s platform makes this kind of measurement readily available and actionable for so many different types of organizations that I believe —that it can make work better for every business in the world.”
Rejab said: “This type of collaboration with existing business metrics and the opportunity to analyze communication data in a privacy-compliant manner is the future of understanding the heartbeat of every company – I believe in 10 years. In time we will see how we can ignore the insights from these platforms.”
Tomas Kaper, Founder and Group CEO of Rohlik Group, European leader in e-grocer, said: “With our traditional BI approach using performance data, we are looking forward to helping us improve the way we collaborate across teams. The data provided by Time Is Limited is essential to business leaders — and the way we work both internally and with our vendors.