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About Tern

Tern is a venture capital firm founded in 2004. It is primarily based out of London, United Kingdom. As of Feb 2024, Tern has invested in 7 companies. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and HealthTech. Most recently it participated in the $***** Series A round of Device Authority Overall, Tern portfolio has seen 1 acquisition, namely Seal Software. A lot of funds co-invest with Tern, with names like Midlands Engine Investment Fund sharing a substantial percentage of its portfolio. Tern has team of 2 people including 1 partners.
Key Metrics
Team Members
Portfolio Locations
Rounds of Entry
Seed & Series A
Portfolio Acquisitions

Tern's List of Top Investments

Tern has a portfolio of 7 companies. Their most notable investments are in Konektio and DiffusionData.Their portfolio spans across United States and United Kingdom. They have invested in Enterprise Applications, High Tech, HealthTech and 2 other sectors, across stages such as Seed, Series A stages. Here is the list of top investments by Tern:
Provider of AI-based platform for surgical simulation using VR and haptics. It claims that the proprietary haptics system allows sensing resistance, texture, substance, and pressure, enabling professionals to practice and refine their surgical skills. Its platform syncs with a stylus connected to a standard-issue mechanical arm. Its stylus features two buttons, one to inject the virtual drug and the other to withdraw the needle. It knows the ideal injection pattern for the drug and gives the surgeon a score based on how accurately they have administered it. It claims that the simulations are hardware agnostic and thereby compatible with multiple headsets such as HTC Vive, Oculus Rift, and Microsoft Hololens.

Key facts about Fundamental Surgery

Seal Software, the leading provider of contract discovery, extraction and analytics solutions, which enables companies to manage their contract portfolio by understanding exactly where their contracts are when needed and, more importantly, what is buried within them, in order to maximize revenue opportunities, mitigate risk and reduce expenses. It automatically locates unstructured contract data wherever it resides in an organization. Claims to rapidly process thousands of contracts, that is truly customizable, leveraging a unique blend of standard industry technology, including ML and NLP, and proprietary patented technology. Organizations can quickly and effectively populate and update corporate contract repositories, seamlessly integrating with leading customer relationship management (CRM), contract lifecycle management (CLM), and enterprise resource planning (ERP) solutions out-of-the-box.

Key facts about Seal Software

Developer of AI-powered conversational data intelligence platform for healthcare marketing. The platform delivers structured intelligence from unstructured data using natural language interface. It employs AI, ML, and NLP with domain knowledge to decode text-based data input. The platform offers message alignment, persona development, and audience intelligence.

Key facts about Talking Medicines

Provider of automated identity lifecycle management for unmanaged IoT/OT devices. The company's platform delivers compliance, visibility, and economies of scale for manufacturers and operators. It offers solutions for PKI automation, access control, and policy-driven encryption. The platform secures connected products and ecosystems across various sectors.

Key facts about Device Authority

Platform offering streaming data analytics solution. It is a cloud based platform that consumes data from any source, hyper personalizes the data, and also helps in the distribution of that data. It enables users to configure, manage, and report on data, connections, and more. It caters its solution to industries such as finance, gaming, transportation, technology, and more.

Key facts about DiffusionData

Tern's Investments by Stage

Tern has made 4 investments in Seed stage with an average round size of $1.43M and 2 investments in Series A stage with an average round size of $1.57M.
Here are Tern's investments by stage:
Stage of entry
No. of Investments
Seed
4
Series A
2
Breakdown of Tern's investments by stage of entrySeed (4)Series A (2)
Note: We have considered here, only first round of investments

Tern's Investments by Sector

Tern has a diverse portfolio, with companies operating in the Enterprise Applications, HealthTech, High Tech, Industrial Goods and Manufacturing and AR VR - Industry Applications. Notably, it has invested in 5 Enterprise (B2B) companies, 5 Software companies, 5 Tech companies and at least 3 companies focusing on Saas.
Here are Tern's investments by sector:
Sector
No. of Investments
Enterprise Applications
4
HealthTech
2
High Tech
2
Industrial Goods and Manufacturing
2
AR VR - Industry Applications
1
Others
2
Breakdown of Tern's investments by sectorsEnterprise Applic... (4)HealthTech (2)
Note: We have considered here, only first round of investments

Tern's Investments by Geography

Tern has made most investments in United States (4), followed by United Kingdom where it has made 3 investments.
Here are Tern's investments by geography:
Country
No. of Investments
United States
4
United Kingdom
3
Breakdown of Tern's investments by countriesUnited States (4)United Kingdom (3)
Note: We have considered here, only first round of investments

Tern's recent investments

Tern has not made any investment in 2026 so far.
Here are the most recent investments by Tern:
Date
Company
Location
Round Details
Round Amount
Co-Investors
Feb 07, 2024
United Kingdom
Series A
6592
Apr 25, 2023
United Kingdom
Seed
5032
-
Aug 11, 2022
United States
Series B
6810
  [+2]
Feb 01, 2022
United Kingdom
Seed
7593
Dec 20, 2021
United Kingdom
Seed
9458

Acquired companies in Tern's Portfolio

1 company from Tern's portfolio has been acquired. The most recent acquisition was Seal Software in Feb 2020 by DocuSign for $*****.
Here are Tern's portfolio companies that got acquired most recently:
Company
Acquisition Date
First Invested on
First Round of Investment
Round Size
Feb 27, 2020
Jul 29, 2017
Series A
5227

Team profile of Tern

Tern has a team of 2 members located in United States. Tern's team does not sit on the board of any company as of now.

Co-investors of Tern

Over the past 12 years, 28 investors have co-invested in Tern's portfolio companies. This includes funds and angels.

Recent News related to Tern

Tern launches £642,486 underwritten Open Offer DirectorsTalk InterviewsJul 14, 2025Tern
Tern launches underwritten open offer to raise £340,140 DirectorsTalk InterviewsApr 17, 2025Tern
View all news related to Tern

FAQs about Tern

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