Terminal, the remote teams company helping future unicorns work around the talent shortage and hire top tech talent across the globe, has announced a $17 million Series B funding round that includes notable investors Kleiner Perkins and Lightspeed Venture Partners.
Headquartered in San Francisco, Terminal is trying to solve the hiring crisis in tech.
With five job openings for every one engineer in Silicon Valley, many startups today simply can’t compete for talent against FAANG companies like Facebook, Apple, Amazon, Netflix and Google.
To solve this, Terminal has identified global innovation hubs outside of Silicon Valley – like Vancouver – and is creating engineering teams for Bay Area startups looking for engineers.
Terminal manages everything from hiring to office space to keeping remote teams happy for the long-term with culture and community.
“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. Terminal helps startups access these engineers. Many of our fast-growing companies at 8VC rely on Terminal to help them scale.”
Companies gain access to elite talent, while engineers get the opportunity to be members of Terminal’s network to build technology for some of the most exciting companies in the world, without leaving their homes or taking on complex immigration issues.
In just over two years, Terminal has brought on more than 200 engineers for leading startups such as Bungalow, Chime, Dialpad, Earnin, Gusto, Hims/Hers, and KeepTruckin.
Terminal recently opened its fifth remote campus in Guadalajara, Mexico adding to operations in Vancouver, Montreal, Toronto, and Kitchener-Waterloo and plans to expand to more than 10 cities globally over the next 24 months.