Terem Technologies has completed a $3 million capital raise as the first step in an ambitious strategy to lay the foundations for several multi-million dollar acquisitions.
The company is on an aggressively ambitious mission to compete and directly challenge the bigger consulting firms in a consultancy market that is ripe for disruption.
Specialist investment firm Parc Capital contributed the entire source of funds in this raise.
Terem Founder and CEO Scott Middleton has designed the firm to meet the technical, strategic and cultural needs of organisations developing tech products and ventures.
“Understanding of how to drive revenue growth and great customer experiences with technology has evolved but the options Australian companies have to partner with have not.”
“There’s broad recognition now that technology without strategy leads to costly software that no one uses and strategy without technical depth leaves you with buzzword packed presentations that don’t survive their first day in action.”
“Technology is the primary revenue driver or primary customer experience for most companies today. Success at this requires tight, fast moving multidisciplinary teams with expertise across strategy, product, software engineering and design.”
Founded in 2011, Terem is the brainchild of founder and CEO Scott Middleton.
The company specialises in the rapid development of digital products for technology companies and the government, being founded on the premise that lack of access to a skilled product development partner was preventing companies from growing as fast as they could.
Terem is a vital cog in the tech industry
Since its inception, Terem has helped develop several leading companies.
It redesigned the Qantas app and announced a joint venture with insurance giant IAG to spin off and commercialise its bespoke workforce management app Attune.
Some more of its clients include tech success Immutable, the Australian Tax Office (ATO), Australian Institute of Company Directors (AICD), and MYOB.
“Terem’s growth has come purely through delivering successful outcomes for our clients.”
“With this investment, we’ll supercharge our ability to deliver big and better outcomes.”
“As a specialist technology consulting and product development firm, we come with a culture that our clients align with and have geared our practices and structure just to this.”
Boutique investment firm Parc Capital has a mandate of investing in companies they see as having the capacity to transform their industry and change the way people do business.
Managing Director Jason Serda said that Terem Technologies could provide the digital transformation strategies that Australian businesses need to compete and survive.
“We were greatly impressed by the company values, mission and the team behind Terem.”
Parc is executing growth strategies for many companies like Australian men’s health digital clinic Mosh, proptech startup Hutly and cloud infrastructure services company Orro.
