Termii, a Communication Platform as a Service (CPaaS) startup, co-founded by two Nigerians just graduated as one of the winter 2020 Batch 2020 of Y Combinator.
Getting shortlisted for the programme saw the co-founders spending three months – starting January – in the Bay Area. And the programme ended with a Demo day – a pitch session which involves select and prospective investors. Incidentally, this particular one was done over video because of coronavirus (COVID-19) scare.
Apart from the opportunity to raise funds later, Termii will get $150,000 investment in exchange for 7% equity.
Founded by Gbolade Emmanuel (CEO) and Ayomide Awe (CTO) in 2014, and followed by a rebranding in 2017, the startup appears to have evolved to build a niche in providing dependable communication channels for African businesses.
Apparently, Termii got admitted into YC only a few months after it bagged funding from Future Hub backed by Transsion, as well as an investment from Microtraction.
Now a Delaware company having operations in Silicon Valley with a primary focus in Africa, Gbolade affirms in a comment to Techpoint that Termii will still be operating across multiple locations with a particular focus on Nigeria where the main market share is.
Termii joins the list of Nigerian startups like Paystack, Flutterwave, Tizeti, BuyCoins and others that have passed through and graduated from Y Combinator, the San Francisco based startup incubator.
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Nigerian startups raised $55.4m in Q1 2020; over 99% of which came from foreign sources. Find out more when you download the full report.