Favorite

Richmond software firm looks to go national with new funding round 

click to enlarge Partners at local cloud software firm, Terazo: CFO George Boatright, Chief Digital Officer Chris Busse and CEO Mark Wensell.

Partners at local cloud software firm, Terazo: CFO George Boatright, Chief Digital Officer Chris Busse and CEO Mark Wensell.

Local software firm Terazo has announced that it has worked out a funding round of about $10 million to help with its hiring efforts and growing partnerships for advanced cloud computing capabilities.

The round of funding was led by Tercera, an investment advisory firm, and Twilio, a major cloud communications platform.

“This will let us handle the increased demand we are seeing and we want to go national,” Mark Wensell, chief executive officer of Terazo, tells Style Weekly.

Founded in 2016, Terazo has been regarded as a rising star in Richmond’s high tech sector. Richmond BizSense named it the fourth fastest growing firm in 2020. This year, the Richmond Times-Dispatch named it a top place to work.

Wensell says that the firm now has 65 employees and that the new funding will help it double that number. “We want to be in a position to expand post-COVID,” he says.

A press release on Wednesday noted that "custom development, automation and cloud integration experienced rapid growth during the COVID-19 pandemic as clients sought to transfer traditional, office-based contact centers and other customer-facing platforms to the cloud."

Terazo is Tercera’s second strategic investment and Twilio is a Terazo partner.

Cloud computing is a fast-growing method of data management by using remote servers. Examples include data centers that have grown extensively in the Richmond area and the state.

Terazo helps firms run on the cloud system from “day one,” Wensell notes.

Favorite

Tags:

Comments


Comments are closed.

More by Peter Galuszka

Connect with Style Weekly

Most Popular Stories

  • Preaching for Peace

    Preaching for Peace

    As gun violence plagues the city, the Rev. Donte McCutchen seeks solutions.
    • Jun 15, 2021
  • Waive That Flag

    Waive That Flag

    A VCU teacher has students redesign Virginia flags to “reckon with dead symbols.”
    • Jun 8, 2021
  • Power to the People

    Power to the People

    A new documentary about the rise and fall of the Confederate monuments offers a sweeping history of resistance.
    • Jun 8, 2021
  • How to Get Back into Summer

    How to Get Back into Summer

    The sun is out, masks are down, normal is overrated. Here are five ideas to help reignite that summer feeling.
    • Jun 1, 2021
  • More »

Copyright © 2021 Style Weekly
Richmond's alternative for news, arts, culture and opinion
All rights reserved
Powered by Foundation