Silicon Valley has continued to be the epicenter of technology, complemented by metropolitan cities like New York, London, and Berlin. Despite the technological convergence in these places, there seems to be a continued shortage of engineers in these places
Fremont, CA: San Francisco based startup Terminal has raised USD 17 million, led by 8VC, with participation from Atomic, Cathay Innovation, Cherubic Ventures, Craft Ventures, Kleiner Perkins, Lightspeed Venture Partners, and other unnamed investors.
Terminal provides companies with platforms that allow them to build out remote engineering teams in international locations. The company currently has hubs in Guadalajara, Mexico, and Vancouver, and will be using part of the funding to ten cities globally within the next two years. Funding round leader 8VC is a venture firm founded by Joe Lonsdale, who also happens to be the co-founder of Terminal.
"LinkedIn has carved out a big swathe of the online recruitment market specifically in the area of knowledge workers, who also use the platform to provide public profiles of themselves, to brush up their skills and to network with other folks in their various industries. That business has racked up 4 million hires this year already," said CEO Jeff Weiner.
Silicon Valley has continued to be the epicenter of technology, complemented by metropolitan cities like New York, London, and Berlin. Despite the technological convergence in these places, there seems to be a continued shortage of engineers in these places. Terminal's solution is to send suitable engineers in other locales and use its platform to help a company build a team from them.
"Terminal is aiming at the biggest problem holding back innovation: access to top technical talent. 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," said Lonsdale.
The alternative model used by Terminal is emerging as a hot trend in a market where companies are embracing the big swing in the direction of contractors. This helps to keep engineers off clients' books and on Terminal's books instead. "We’re providing life-changing opportunities for engineers," said Terminal CEO, 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," he added.