Tehama Completes Series a Financing Led by OMERS Ventures
Highly Secure, Virtual Workforce Technology Company Raises Us$10m
Tehama, the fastest, easiest, most secure way to deploy a global workforce, announced that it has raised US $10 Million in a Series A round of financing led by OMERS Ventures, with participation from BDC Capital’s Industrial, Clean and Energy Technology (ICE) Venture Fund.
Tehama is a cloud-based SaaS platform that delivers highly secure virtual offices, rooms, and desktops anywhere in minutes. Before the COVID-19 pandemic, there was already a shift taking place, with more businesses adopting a remote workforce, resulting in an increase in demand for solutions that deliver the benefits of working from home, including cost savings on office space and the ability to hire top talent from around the world.
“The future of work is virtual, and that future has now permanently been accelerated. Today, almost every enterprise is grappling with challenges of an immediate work from home mandate such as security, bandwidth, performance, audit, and compliance issues. There’s an urgent need for a new way to enable a secure virtual workforce,” said Paul Vallée, CEO and Founder, Tehama.
“From our very first conversation, we felt strongly that Tehama’s highly secure, compliance-driven approach to creating a remote-work enablement product was valuable,” said Shawn Chance, Venture Partner, OMERS Ventures. “We couldn’t have predicted that it would be so dramatically put to the test by a global pandemic-driven work-from-home mandate, but seeing how the team has stepped up over these past few weeks has only strengthened our conviction in both the product and the team behind it.”
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“We’re pleased to support the next stage of growth for this innovative technology,” added Siddartha Krishnan, Principal, BDC Capital’s ICE Venture Fund. “As businesses in Canada and around the world face new security concerns that come with remote work, Tehama will be especially beneficial for those that have strict security and compliance requirements around handling sensitive data and intellectual property.”
Tehama was developed at Pythian, a global IT services company founded in 1997 by Paul Vallée. Under Paul’s leadership, Pythian developed groundbreaking tools that enabled them to securely deliver IT services to global clients with strict security and compliance requirements. With the extensive adoption of Tehama for onboarding third-party vendors securely, and also enabling them to work with top talent without compromising security, it became clear that there was a greater need to expand and take the product to market. Tehama launched to the public in September 2018, spun out from Pythian in September 2019, and now has more than 150 enterprises using the platform.
“As a public company, we needed a SaaS solution that guaranteed secure access to critical applications and data, without being too costly and time consuming,” said Mike Paylor, Vice President, Engineering and Product, Upwork. “Tehama’s Virtual Office as a Service has not only met our on-demand requirements at scale, but has enabled our employees to securely work remotely from anywhere in the world, and all at the click of a button.”