Scottsdale-based startup Terkel, which uses technology to find and compose answers to users’ questions online, says it will enhance its capabilities and grow its team after raising $1 million from investors in a seed funding round that closed this week.
Investors in this funding round included Stout Street, Sonoran Founders Fund and Calm Company Fund.
The company was founded in late 2020, and it launched in February of 2021. It picked up $500,000 in seed funding back in January and says it has grown significantly over the past several months, reaching 7,500 users — with 350 of those paying users. That’s up from the 3,000 users it reported at the start of the year.
Now it wants to build on that momentum by adding to its community management team, increasing brand awareness and introducing more publishers to its services, which use machine learning algorithms and natural language processing to create articles and other content out of expert insights and quotes.
“This funding will directly support Terkel’s mission to connect brands with expert insights,” Terkel Founder and CEO Brett Farmiloe said in a statement. “Securing this investment will help us realize our vision of democratizing thought leadership.”
Publishers served by Terkel include brands such as the Society for Human Resources Management (SHRM), GoDaddy, SCORE and Goodwill Arizona, among others.
“Being able to partner with Terkel has been a huge benefit to Goodwill as it helps us get content out quickly and under best practices with search engine optimization,” said Nathan Alberts, senior content specialist for Goodwill Arizona, in a statement. “Not only does it give us visibility and credibility, but it also brings visibility to these experts and what they provide.”
The startup says it has already created more than 2,500 articles for the brands it serves, bringing them organic search traffic and social media visibility.
Sonoran Founders Fund Managing Director Romi Dhillon said one reason his firm made the investment was the expanded access to media opportunities that Terkel brings to the table.
“Terkel is more than a marketing tool. It’s a platform that presents an opportunity to reimagine access to earned media, and expand the publishing capabilities of brands,” Dhillon said in a statement. “We’re thrilled to issue this investment that will support Terkel’s work to give voice to small businesses and benefit its stakeholders, including publishers, agencies, and journalists.”
The company takes its name from Studs Terkel, a Pulitzer Prize-winning author and oral historian who interviewed hundreds of people about their work. Terkel interviewed farm workers, switchboard operators, welders, salespeople and more, putting their personal stories and expertise on display.
