The round of funding was co-led by Future Africa and Kepple Africa Ventures with the participation of Acuity Ventures, Kairos Angels, Aidi Ventures, RallyCap Ventures, Assembly Capital, Nama Ventures and Remapped Ventures. Angel investors who participated in the round included Josh Jones, the co-founder and CTO, Dreamhost; and Tayo Oviosu, co-founder and CEO of Paga and Ham Serunjogi, co-founder and CEO of Chipper Cash. Launched in 2017 by CEO, Gbolade Emmanuel who is the former COO of Accounteer, a Nigerian accounting technology startup and his CTO, Ayomide Awe , a former software engineer at Reliance HMO, Termii received backing from Lagos-based VC Microtraction and US-based Y Combinator to provide infrastructure that enables digital businesses to communicate seamlessly with their customers. The Communications Platform as a Service (CPaaS) statup ensures a 90% deliverability rate, allowing its customers to engage, verify, and authenticate customer transactions through E-mail, SMS, Voice, and WhatsApp via the Termii APIs. Termii’s analytics also give its customers insight into how customers engage with messages they receive from digital businesses, including whether they open the message, click on any links, or unsubscribe from any services. This helps businesses to better understand their customers’ communication preferences. Termii operates a per-billing model and charges its customers for each message sent. Some of its trusted customers include Bamboo, Helium Health, Eversend, Chaka, Yassir, Paystack, ULesson, Bankly, Omnibiz and Credpal. Termii’s vision is to build the infrastructure that powers digital communication across the African economy then focus on the global CPaaS industry which is worth $3.6 billion and is growing at a rate of 6% yearly.
