Terminal raises $20 million

Terminal, which provides a unified API for commercial trucking telematics data, closed a $20 million in Series A financing led by Battery Ventures, with participation from Intact Private Capital, Penske, Y Combinator, and Wayfinder Ventures. The round brings the company’s total funding to $26 million since its founding.

Founded in 2023, the Canadian startup acts as an integrator of data generated by commercial vehicles, including location, speed, fuel consumption and maintenance information.

Terminal works with insurance, fleet management, and logistics companies.

“Telematics data is one of the transportation industry’s most valuable assets, but it has lived across hundreds of distinct providers, which has made it hard to access and use at scale. Terminal exists to accelerate innovation across this industry. We are the neutral infrastructure layer that connects those providers and normalizes their data into a single, consistent format, so insurance, fleet management, logistics, and financial services companies can each bring valuable products to market faster. This funding lets us deepen our provider partnerships and meet growing demand across each of these segments.” – Raghav Midha, CEO and co-founder of Terminal.

“Intact Private Capital is excited to continue supporting Terminal and we’re confident they’re on their way to becoming a leading data infrastructure provider for the physical world. Since partnering with Terminal, we’ve witnessed firsthand the improvements they’ve brought to commercial telematics sophistication, helping solve complex and fragmented data challenges for the world’s largest insurance companies. Terminal has assembled an incredible team and we’re looking forward to seeing them tackle the telematics opportunity ahead.” – Justin Smith-Lorenzetti, managing director, Intact Private Capital.