International data warehouse automation company TimeXtender is setting up shop in downtown Bellevue, bringing employees and management of the company to town.
TimeXtender is a Danish/American company which operates out of Aarhus, Denmark and previously operated North American operations in Redmond. The new headquarters will be in One Bellevue Center at 411 108th Avenue Northeast.
Romi Mahajan, chief marketing officer for TimeXtender, said the company was filling an important vacuum and was succeeding because of it.
“Think about a company of any decent size and the ton of information it needs stored,” he said. “That could be financial information, customer information, market information. We store more and more data. We can access, massage and visualize that data.”
TimeXtender opened its new office Thursday, Nov. 5 with just over a dozen employees. The company hopes to expand to around 25 employees by February or March.
Company chief executive officer Heine Krog Iversen will shift TimeXtender’s North American base of operations to Bellevue and he will travel from Denmark to Washington as the company makes the move.
“The North American market is the key to our plans for hyper growth,” Iversen said. “We believe that by relocating our North American headquarters to Bellevue, we can support our projected growth by finding highly skilled professionals from this business region, an established, technology ecosystem.”
Executives were bullish on the move to Bellevue and the technology opportunities that would open for the company.
“A conservative estimate is we could see 10x growth in four or five years,” Mahajan said. “Now obviously we are a smaller company so there is more room to grow, but that’s not outlandish to hope for.”
TimeXtender execs said Redmond was a stop-gap measure, and one which was very successful for the company.
The dual-headquarters for the company have lead the business to be a “double-digit million dollar company,” according to Mahajan.
Bellevue has been the company’s North American dream destination since it started operations.
“It’s a good sign for our business and an exciting time for our employees,” Mahajan said. “It’s like an ad agency moving to Madison Avenue. It’s like we’ve made it.”
