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article imageStartup that helps companies build remote teams raises $13M CAD

By Lisa Cumming     May 24, 2018 in Business
Terminal, a startup that helps companies create and scale their remote technical teams, has announced the recent completion of a Series A funding round of $13M CAD ($10.35M USD).
This successful first significant round of VC financing means that Terminal can continue to recruit talent, build up its work spaces, and provide comprehensive support to companies as it continues to grow. Specifically, according to the press release about the financing round, Terminal says they're going to use the funding to "scale operations across their five offices throughout Canada and the United States and to expand their footprint into Latin America."
Terminal operates on the idea that physical proximity to a workspace isn't a necessity when looking to hire top talent โ€” like how in Canada there are a lot of talented workers who aren't (thankfully) all leaving for Silicon Valley โ€” but still working for those companies remotely.
"Engineering talent is the most precious resource for tech companies. Physical proximity is no longer vital, and the world is waking up to the tremendous technical talent in Canada. In our short history we've had two companies acquired for the talented teams we've help build, with last week's news of Dialpad acquiring TalkIQ as the latest example," said Clay Kellogg, CEO of Terminal. "Terminal ensures that engineers are not only working for leading companies, but that they are treated as full-time staff, receiving all the perks an in-house team member would โ€” including equity when applicable. This funding helps broaden the offering to the world's top talent, in their own backyards." โ€” from the press release
Across Canada, Terminal has a team of about 150 members โ€” with a heavy concentration in Kitchener-Waterloo, where there have an engineering roster of about 80 people. That's not surprising given Kitchener-Waterloo's booming startup spaces.
"Scaling efficiently is a pain point for just about any startup, and when we hear consistently that Terminal has solved that major problem for technical teams, we act quickly to invest," said Nakul Mandan, partner at Lightspeed Venture Partners in the Terminal press. "The team on the ground in Canada has done a tremendous job of integrating Terminal into the thriving technology industry there, and we're excited to join them as they continue to grow."
More about Terminal, digital transformation, Remote, Startup