Total amount raised
$51.9 Millions
Latest funding date
01/01/2022
Location
Career Karma has successfully raised significant funding through multiple rounds, with its latest being a Series B closed on January 10, 2022. The platform is dedicated to helping individuals find career advice and job training, particularly through coding bootcamps.
Keep reading to explore the intricacies of Career Karma's fundraising journey and the investors backing this innovative platform.
What Is Career Karma?
Career Karma, founded in April 2018 by Artur Meyster, Ruben Harris, and Timur Meyster, is headquartered in San Francisco, California. The company operates in the career planning, social network, and training industries, with an employee count ranging from 51 to 100.
Career Karma is dedicated to helping individuals find career advice and job training, particularly through coding bootcamps. The platform offers free coaching and peer mentorship, serving over 1 million workers monthly. It features a directory of 9,000 boot camps and trade schools, allowing users to compare courses and read student reviews.
How Much Funding Has Career Karma Raised?
- Pre-Seed Round
- Amount Raised: $437.5K
- Date: March 2019
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
- Seed Round
- Amount Raised: $1.5M
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A
- Amount Raised: $10M
- Date: December 2020
- Lead Investors: Initialized Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase user acquisition.
- Series B
- Amount Raised: $40M
- Date: January 2022
- Lead Investors: Top Tier Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand matchmaking services, develop new community features, and establish enterprise partnerships.
Total Amount Raised: $51.9375M. Current Valuation: Not publicly disclosed.
Key Investors
- Top Tier Capital Partners
- Details: Top Tier Capital Partners is a fund of funds that invests in venture capital funds and co-invests in select portfolio companies. They have over a decade of experience investing in mid and growth-stage companies.
- Investment Focus Areas: Venture capital funds, technology, innovation.
- Notable Investments: Various mid and growth-stage companies.
- GV (formerly Google Ventures)
- Details: GV is the venture capital arm of Alphabet Inc., investing in various sectors including technology and healthcare. They have a strong track record of backing successful startups.
- Investment Focus Areas: Technology, healthcare, life sciences.
- Notable Investments: Uber, Slack, Nest.
- Initialized Capital
- Details: Initialized Capital is a venture capital firm that invests in early-stage companies. They focus on helping startups grow from the ground up.
- Investment Focus Areas: Early-stage technology startups.
- Notable Investments: Coinbase, Instacart, Reddit.
- SoftBank
- Details: SoftBank is a Japanese multinational conglomerate holding company known for its investments in technology, energy, and financial sectors. They have a significant global presence.
- Investment Focus Areas: Technology, telecommunications, energy, finance.
- Notable Investments: Alibaba, WeWork, Arm Holdings.
- Kapor Capital
- Details: Kapor Capital is a venture capital firm that invests in seed-stage tech startups that close gaps of access, opportunity, or outcome for low-income communities and communities of color. They are committed to social impact.
- Investment Focus Areas: Tech startups addressing social inequalities.
- Notable Investments: Twilio, Uber, Bitwise Industries.
What's Next for Career Karma?
Career Karma is poised to capitalize on the growing demand for alternative education paths and job training programs. With plans to expand matchmaking services and build community features like job fairs and study sessions, the company aims to become a comprehensive job training platform. Leveraging data to create predictive models for schools and establishing partnerships with companies to offer Career Karma as an employee benefit are key strategies for growth.
Future fundraising opportunities appear promising, especially given the recent $40 million Series B funding round. As Career Karma continues to grow, additional investment rounds are likely to support its ambitious expansion plans. However, the company may face challenges such as competition from other platforms, ensuring the quality of training programs, and maintaining user engagement.
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