The news: Terminal, a Toronto startup that pulls commercial-vehicle telematics data through a single API, raised a $20 million Series A led by Battery Ventures.
The round: The raise takes Terminal's total funding to $26 million. Intact Private Capital and Penske joined as new strategic investors, alongside returning backers Y Combinator and Wayfinder Ventures. BetaKit identified the Penske entity as Penske Transportation Solutions; Terminal's release names it only as Penske.
Battery general partner Marcus Ryu, the former Guidewire chief executive, joins the board. Valuation was not disclosed. The full investor list also includes Golden Ventures, Northside Ventures and McVestCo, the investment vehicle of bulk carrier Trimac Transportation.
What it does: Trucks generate location, speed, fuel-consumption and maintenance data, but it comes out in hundreds of incompatible formats depending on which telematics provider a given vehicle runs. Anyone who wants that data across a mixed fleet has to build and maintain a separate integration for every provider.
Terminal reaches more than 325 providers through one connection, runs data-quality checks, manages consent and authorization, and normalizes the output into a single shape covering GPS location, safety events, fault codes and vehicle statistics.
Who buys it: Insurers use it to sharpen underwriting and pricing, fleet management companies for driver safety and maintenance, logistics companies for operational visibility, and financial services firms for fuel-card and equipment-leasing underwriting. Terminal says insurers on its platform pass through up to 20% in premium savings for safe driving behavior.
Intact Insurance runs its IntelliRoute program on Terminal, and Intact says the program has enrolled more than 150 fleets and produced more than $900 in annual savings per truck.
Intact Private Capital is also one of the investors in this round.
By the numbers: Terminal processes about two terabytes of data a day and has taken in more than five billion kilometers of historical driving data. The team is going from 17 people to a planned 30 by the end of the year.
