- Terminal, a company that builds and manages remote teams, announced it raised $17 million in Series B funding
Terminal — a company that builds and manages remote teams for solving the tech talent shortage — announced it raised $17 million in Series B funding. This round of funding was led by 8VC with participation from Atomic, Cathay Innovation, Cherubic Ventures, Craft Ventures, Kleiner Perkins, Lightspeed Venture Partners, and others.
“The demand for engineers exceeds the supply of talent in the Bay Area. Terminal is solving a market-level problem with a macro-level solution, helping fast-growing companies gain access to technical talent they otherwise would struggle to hire. More importantly, we’re providing life-changing opportunities for engineers,” said Terminal chief executive officer Clay Kellogg. “Developers and programmers love building their careers in an engineer-centric community working on world-changing products. We’re offering them a vibrant community with all of the HR resources, benefits, and perks that they can get if they worked in Silicon Valley — without having to leave their hometown. This funding means we can provide exciting growth opportunities to even more engineers around the world.”
There are five job openings for every one engineer in the U.S. And many companies cannot compete for talent against big tech companies. So Terminal helps build remote teams by identifying talented engineers in global hubs and manages recruiting, hiring, office space design, and creating a community where engineers flourish.
“Terminal is taking aim at the biggest problem holding back innovation: access to top technical talent,” added Joe Lonsdale, a partner at 8VC. “The best engineers are no longer concentrated in the Bay Area. They exist all over the world. Terminal helps startups access these engineers. Many of our fast-growing companies at 8VC rely on Terminal to help them scale.”
With Terminal, companies are able to gain access to elite talent while engineers get the opportunity to become members of Terminal’s network to build technology for some of the most exciting companies in the world without having to leave their homes or take on complex immigration issues. Over the last 2 years, Terminal brought on more than 200 engineers for leading startups such as Bungalow, Chime, Dialpad, Earnin, Gusto, Hims/Hers, and KeepTruckin.
“KeepTruckin has built a modern technology platform to usher the fragmented trucking industry into the digital age, and our engineers have been at the center of creating a customer-centric experience since day one,” explained Shoaib Makani, the CEO and co-founder of KeepTruckin. “As a fast-growing company, being able to attract and retain top tech talent is critical to our success. Terminal has been a key partner in helping us build our engineering team in Vancouver and tapping into Terminal’s extensive network has reduced the time it takes to scale our team.”
Terminal opened its fifth remote campus in Guadalajara, Mexico and added to its operations in Vancouver, Montreal, Toronto, and Kitchener-Waterloo. Plus the company plans to expand to more than 10 cities globally over the next 24 months.
