News  |  Deal Releases

Data management automation pioneer TimeXtender joins forces with Monterro to accelerate growth

Read on

Deal Release:

Organizations are starving for faster, better, more efficient ways to manage and utilize their data

Heine Krog Iversen, CEO, TimeXtender

Heine Krog Iversen Time Xtender

12 May 2022

We are delighted to announce the investment into TimeXtender, the global software company enabling data integration, advanced analytics and AI, from leading Nordic growth equity investor Monterro.

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.

TimeXtender's data estate builder 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.

Ben Kolada, Head of US Tech Investment Banking at ICON commented: “This is a great case study on how Silicon Valley style and strategy can be applied to companies far beyond the tech mecca to set up a successful transaction. TimeXtender is a global company with a simple, yet sophisticated, data management automation platform. Its innovative culture and partner-driven go-to-market strategy are proving a resounding success. We are pleased to have served as corporate development adviser leading up to this next chapter in TimeXtender’s story.”

Martin Henricson, Managing Director at Monterro and future Chairman of the Board at TimeXtender, added: “We’re impressed by the team at TimeXtender and its innovative solution. 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."

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

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

The Deal: