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New Schedule App Developer Timeful Raises $6.8 Million

Founded by Israelis, California’s Timeful has just completed its Series A round of funding.

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A new start up called Timeful is offering users an app for intelligent time management. The company is currently beta testing its intelligent time manager. The mobile app will efficiently help manage your time and tasks.

Timeful has announced a Series A round of funding which brought in $6.8 million. Khosla Ventures handled the Series A with the aid of Kleiner Perkins Caufield and Byers, Data Collective, Greylock and Ashton Kutcher’s A Grade Investments.

The company’s board of directors includes Keith Rabbois of Khosla who only just joined it and Zynga CEO Don Matrick, a Timeful investor. It has also just hired Chris Weeldreyer, former project manager at Instagram, as Vice President of User Experience.

The company’s mission statement says, “At Timeful, we strive to reduce stress, increase productivity, and bring better life balance to all the people who are currently overwhelmed by everything that competes for their time”.

They further claim to have “brought together the leading minds in artificial intelligence, big data, behavioral science and product design to reinvent the way we all manage our time.”

Based in Moutain View California, Timeful was founded by Jacob Bank, Dan Ariely and Yoav Shoham.

Timeful’s chief executive officer, Jacob Bank, is currently on leave from a PhD program in computer science at Stanford University in California where he researched how to best apply data mining, machine learning and optimization algorithms to time management. He previously worked in data mining for LinkedIn and as a software engineer with Google.

The chief behavioral officer with Timeful, Dan Ariely, is a foremost expert in behavioral economics and a professor of psychology at Duke University in North Carolina. Ariely, 47, is also the founder of the Center for Advanced Hindsight and the co founder of BEworks.

Ariely was born in New York to an Israeli family who moved back to Israel when he was three years old. He is also a featured speaker with Ted.com. He is a graduate og the Massachusetts Institute of technology.

Yoav Shoham is Timeful’s chairman. This is his fourth start up. In In 1998, he founded TradingDynamics and sold it to Ariba in 1999 for $400 million. He also started Katango in 2010, which was sold to Google in 2011.

With a PhD in computer science from Yale, Shoham has been a professor at Stanford for 27 years. The 57 year old is also a fellow with the Association for Advancement of Artificial Intelligence.

Founded in 2004 by Vinod Khosla, Khosla Ventures is a venture capital firm focused on early stage companies in the internet, computing, mobile, silicon technology and clean technology sectors. The firm is based in Menlo Park, California and manages approximately $1.3 billion of investor capital as well as earlier funds funded by Khosla.

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Timeful presents a Dan Moment: Procrastination from Timeful on Vimeo.

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