Henrico-based Terazo adds $10M in funding

Henrico-based Terazo, a software development and managed services firm, announced May 26 that it had closed a funding round of more than $10 million in an effort led by investment and advisory firm Tercera, with participation from Twilio, a cloud communications platform.

The funding will accelerate Terazo’s hiring efforts and pursuit of acquisitions and partnerships, enabling the company to scale its growing integration and automation services and expand nationally, according to company officials.

Terazo’s growth in the past year corresponded with a higher demand for custom development, automation and cloud integration during the COVID-19 pandemic as clients sought to transfer traditional, office-based contact centers and other customer-facing platforms to the cloud.

“One of Terazo’s core values is to ‘Seek Meaningful Work,’ and this strategic investment will allow us to expand our team and hire the additional sales and engineering talent needed to deepen relationships with customers,” said Terazo CEO Mark Wensell. “We have built a reputation for helping organizations build, automate and integrate technology-based solutions that create lasting competitive advantage and economies of scale. We look forward to using this investment to support the growing number of companies who have accelerated their digital transformation timelines and are seeking a long-term partner on this journey.”

Terazo is Tercera’s second investment, and Terazo is a member of Twilio’s partner program. Tercera’s Dan Lascell will join the Terazo Board of Directors.