Terem Technologies Founder and CEO Scott Middleton
Terem Technologies, a leading technology consulting firm, has completed a $3 million capital raise as the first step in an ambitious strategy to lay the foundations for several multi-million dollar acquisitions in the next two years. It’s on a mission to compete and directly challenge the bigger consulting firms in a consultancy market ripe for disruption.
Specialist Sydney-based investment firm Parc Capital contributed the entire source of funds in this raise.
Terem Founder and CEO Scott Middleton has designed the firm specifically to meet the technical, strategic, and cultural needs of organisations developing tech products and ventures.
“The world’s understanding of how to drive revenue growth and great customer experiences with technology has evolved but the options Australian companies have to partner with have not,” said Middleton.
“There’s broad recognition now that technology without strategy leads to costly software that no one uses and strategy without technical depth leaves you with buzzword packed presentations that don’t survive their first day in action,” he said.
“Technology is the primary revenue driver or primary customer experience for most companies today. Success at this requires tight, fast moving multidisciplinary teams with expertise across strategy, product, software engineering and design.”
Founded in 2011, Terem is the brainchild of founder and CEO Scott Middleton. The company specialises in the rapid development of digital products for tech companies, enterprises and the Government. It was founded on the premise that the lack of access to a skilled product development partner was preventing companies from growing as fast as they could.
Since its inception, Terem has helped develop several leading companies. Recently, it redesigned and developed the Qantas app and announced a joint venture with insurance giant IAG to spin off and commercialise its bespoke workforce management app Attune. Some more of its clients include tech success Immutable, the Australian Tax Office (ATO), Australian Institute of Company Directors (AICD), and MYOB.
“Terem’s growth to date has come purely through delivering successful outcomes for our clients. Now, with the investment, we can supercharge our ability to deliver bigger and better outcomes. The advantage that we have as a specialist technology consulting and product development firm is that we come with a culture that our clients align with and have geared our practices and structure just to this,” said Middleton.
Bondi-based boutique investment firm Parc Capital has a mandate of investing in companies they see as having the capacity to transform their industry and change the way people do business.
Managing Director Jason Serda said Terem could provide the digital transformation strategies Australian businesses need to compete and survive.
“We were greatly impressed by the company values, the mission, and the exceptional team behind Terem,” he said.
Parc is actively executing growth strategies for a number of companies including Australian men’s health digital clinic Mosh, property technology startup Hutly and cloud infrastructure services company Orro.
