TimeBridge Secures $5 Million in Series B Financing

SAN FRANCISCO, CA--(Marketwire - May 11, 2009) - TimeBridge today announced that it has closed a $5 million Series B round of financing led by Mayfield Fund and Norwest Venture Partners. This round of funding comes after a year of significant user growth and ongoing expansion of capabilities and services that are focused on helping people simplify the process of coordinating and successfully executing business meetings. During the past year, TimeBridge has seen its user base increase tenfold from 30,000 to 350,000.

In the last year, TimeBridge has introduced a number of tools to facilitate productivity and further simplify and improve the meeting process, including:

-- Free conference calling and an affordable Web conferencing service that is seamlessly integrated into the scheduling process, making it even easier for users to work together regardless of location;

-- TimeBridge Groups, which enables work teams to share their availability with each other as a group to further expedite scheduling; this new feature lets teams essentially create an ad hoc, cross-company Exchange server in the cloud for free with just a few clicks; and

-- The Daily Brief, a log of the next day's appointments and activities sent to the user's inbox the evening before so that he or she is prepared and in control of their schedule for the day ahead.

"This financing from some of the industry's most respected investors is a testament to the importance of simplifying the meeting process and the great momentum and leadership we have established," said TimeBridge CEO Yori Nelken. "The rapid growth we have experienced over the last year shows that people are in desperate need of a solution to streamline the experience of working with others, from the very beginning, when they are just trying to find a time to meet, through collaborating during the meeting itself."

"In this economy, everybody is looking for ways to streamline efficiency and costs, and TimeBridge has a very practical solution which enables users to do both," said David Ladd, managing director, Mayfield Fund. "Workers at companies of all sizes across all industries are being asked to do more with less. Using TimeBridge, they can save time by offloading their scheduling for free, and also take advantage of the affordable Web conferencing services and continue to collaborate and be productive, no matter where they are or whether they can afford to travel to meetings in other locations."

"In TimeBridge, you have a solution that is helping people save time and money, which in today's economy is a service that cannot be undervalued," said Venkat Mohan, general partner, Norwest Venture Partners. "TimeBridge is a company with real momentum, solving a real problem for a broad and significant market."

TimeBridge's one-step scheduling is the most efficient way to schedule and conduct meetings with large groups or individuals across time zones, calendaring systems and companies, drastically reducing the traditional back and forth of scheduling. TimeBridge integrates directly with Outlook, Google Calendar and Apple iCal, and facilitates the easy scheduling of meetings with availability sharing, automated meeting negotiation, calendar updates, meeting notifications and reminders.

About TimeBridge

TimeBridge has created the first Personal Scheduling Assistant to give busy professionals a faster, more efficient way to schedule their time. TimeBridge's one-step scheduling is the most efficient way to schedule meetings with large groups or individuals across time zones, calendaring systems and companies. TimeBridge allows users to easily schedule meetings, share their availability with others, and connect directly with calendars including Outlook, Google Calendar and Apple iCal. While online calendars help users track their time, TimeBridge facilitates the social, and often complex process of getting busy people together-in person, on the phone or online. TimeBridge is backed by blue-chip venture capital firms Mayfield Fund and Norwest Venture Partners.

Contact Information: Media Contact: TimeBridge Virginia Zimpel LaunchSquad 415.625.8555 pr(at)timebridge(dot)com