Narayan AmmachchiAmerican company Terminal, known for its unique way of dealing with tech talent shortage in Silicon Valley, has raised US$17 million from more than half a dozen investors led by 8VC.
Bay Area-based Terminal serves as a labor contractor, allowing professionals to work from the comfort of their hometown without having to emigrate to the U.S or the country where their employer is based.
It builds offices in global cities, from where its engineers work for global firms. A large majority of its remote campuses are in the Canadian cities of Vancouver, Montreal, and Toronto. Recently, it has launched a campus in Guadalajara, Mexico too.
Over the past two years, Terminal has brought on more than 200 engineers for US startups such as Bungalow, Chime, Dialpad, Earnin, Gusto, Hims/Hers, and KeepTruckin.
“With five job openings for every one engineer in the U.S., many companies today simply can’t compete for talent against big tech,” says Terminal, adding that it takes “ the headache out of building remote teams by identifying world-class engineers in global hubs and manages recruiting, hiring, office space design, and creating a community where engineers flourish.”
The company offers engineers with all of the HR resources, benefits and perks that they can get if they worked in Silicon Valley.
“Terminal is taking aim at the biggest problem holding back innovation: access to top technical talent,” said Joe Lonsdale, partner at 8VC. “The best engineers are no longer concentrated in the Bay Area. They exist all over the world.”
Other investors participated in the fundraising round included Atomic, Cathay Innovation, Cherubic Ventures, Craft Ventures, Kleiner Perkins, Lightspeed Venture Partners.
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