Toronto-based Terminal, whose API connects insurance products and commercial fleet software with telematics data, raised a $20M Series A led by Battery Ventures (Alex Riehl/BetaKit)

Summary

Terminal raised a $20 million Series A to keep building an API that connects insurance products and fleet software with telematics data, and it has already landed Fortune 500 customers with a lean sales motion.

Why it matters

This is the kind of embedded infrastructure business that can grow quietly until it becomes hard to replace.

Founder/operator read

• A narrow wedge plus strong integration can beat a broad SaaS pitch.
• If you have data access, explain how it compounds over time.

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