Terminal has secured $20 million in Series A funding to accelerate the development of its telematics data platform, which is designed to simplify access to vehicle information generated across hundreds of fleet technology providers.
The investment round was led by Battery Ventures, with new strategic participation from Penske and Intact Private Capital. Existing investors Y Combinator and Wayfinder Ventures also joined the financing.
The latest round brings Terminal’s total funding to $26 million since the company was founded in 2023.
Terminal’s platform addresses one of the transportation industry’s biggest technology challenges: integrating telematics data produced by hundreds of different providers. Fleet vehicles generate large volumes of information through electronic logging devices (ELDs), dash cameras, GPS trackers and OBD-II systems, but each technology provider uses its own data format, making integration costly and time-consuming.
Rather than requiring customers to build separate connections for every provider, Terminal offers a single API that connects to more than 325 telematics service providers. The platform standardizes incoming information into a consistent format while managing data security, customer consent and compliance requirements.
Its system also performs AI-powered quality checks before organizing information such as GPS locations, vehicle diagnostics, fault codes and safety events into standardized datasets that can be used across multiple applications.
According to Raghav Midha, telematics data has historically remained difficult to use because it is spread across hundreds of disconnected platforms. He said Terminal aims to serve as a neutral infrastructure layer that enables insurance companies, fleet operators, logistics providers and financial institutions to develop new products more quickly using a common data standard.
The company says demand for standardized telematics data continues to grow as commercial insurers increasingly adopt behavior-based pricing models and fleet operators seek better visibility into fuel consumption, vehicle maintenance, safety performance and operational efficiency.
Battery Ventures General Partner Marcus Ryu, who will join Terminal’s board of directors, said telematics information is significantly more predictive of future driving risk than many traditional underwriting variables. He noted that widespread data fragmentation has previously limited its value for insurers and fleet managers.
Terminal reports that it has already signed multi-year agreements with major insurance companies, allowing them to use telematics data to offer premium discounts of up to 20% for fleets demonstrating safe driving behavior.
Beyond insurance, the platform is also being adopted by Fortune 500 companies operating in fleet management, logistics and financial services to support maintenance planning, operational decision-making and risk management.
The company is led by an experienced team with backgrounds in technology and transportation. Chief Technology Officer Connor Giles has led engineering and product development at a fintech company focused on API integrations, and both founders have first-hand experience with fleet operations through their family businesses.
The new investment will enable Terminal to expand its network of telematics providers to meet the growing needs of customers in transportation, insurance and logistics, and to strengthen partnerships that make it easier to access fleet data at scale.
