Kitchener-based Terminal has raised a $13 million CAD Series A to scale its platform that helps companies build remote engineering teams.
The round includes Lightspeed Venture Partners, Thiel Capital, Kleiner Perkins, Atomic, David Sacks’ Craft Ventures, and Yahoo! founder Jerry Yang as an angel investor.
“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. “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.”
“Engineering talent is the most precious resource for tech companies. Physical proximity is no longer vital.”
Terminal establishes a footprint in cities with growing technical talent, and houses talent in those office spaces to work for tech companies around the world. The company takes care of operational and legal support such as human resources, benefits, payroll, and stock option administration. In Kitchener-Waterloo, Terminal works closely with the co-op programs of the University of Waterloo to help emerging engineering talent find placements at tech companies.
Terminal will use the funding to scale operations across its offices throughout Canada and the United States, and expand their footprint into Latin America. Terminal currently has offices including Kitchener, Montreal, and Vancouver, and wants to expand its presence in Latin America.
Earlier this month, Terminal moved into a new 17,000 square foot space in Kitchener-Waterloo, and expanded its engineering team to 80, bringing the total team to approximately 150 across Canada.
The company also announced that Clay Kellogg would join as CEO. Kellogg is an operating partner at Atomic, and acted as Hired’s chief revenue officer. While at Hired, Kellogg built and managed a team of 120 people across sales, sales operations, and talent.
“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 Kellogg.