In all honesty, the world has learned a host lessons over the years. While each lesson proved itself as instrumental under some situation, the sheer significance around pursuing constant progression is easily our most important piece of education to this day. You see, by inspiring ourselves to always stay in motion, we end up constructing a sizeable chance at expanding our boundaries beyond all known parameters. Talk about some practical benefits for doing so, such a dynamic has guided us towards various milestones, including a certain generational tool called technology. Now, technology initially appeared on the scene to act more like a facilitator of our core operations, but its impact would soon spill on to a bigger picture, thus triggering a transformation for the ages. The by-products emerging in here sequentially touched upon the whole spectrum, and as a result, it also secured a presence across our global education system. In hindsight, we can claim that education’s transition to ed tech was largely realized through the effort of some notable industry leaders. After having gone a great distance with them, though, the tech-driven concept is now expecting another backer to enter the fray.
Career Karma has officially raised $40 million in a recently-concluded Series B funding round. The round was led by Top Tier Capital Partners and saw close participation from GV (Google Ventures), Bronze Venture Fund, Stardust, Trousdale Ventures and Alumni Ventures Group. Furthermore, some existing investors, including SoftBank, Emerson Collective, Kapor Capital, Backstage, 4S Bay Partners and Y Combinator also solidified their belief in the company through additional investment. The latest cash inflow will be used for helping Career Karma in reinventing its business model. So far, the company’s lone source of revenue has revolved around placing students in bootcamps. However, with portfolio diversification turning increasingly critical in today’s market, Career Karma has made a timely decision to move beyond that area.
According to a few reports, the organization will achieve the said goal by evolving itself into an employee benefit provider. As a part of that, Career Karma plans on matching employees and contractors to training programs available in the company’s own marketplace.
“Stage one was become the number one career advice service for the internet, stage two was become the world’s largest community of career transitioners and now phase three is to become the world’s largest staffing firm,” said Ruben Harris, Co-founder of Career Karma.
The latest Series B round isn’t the first one we have seen that seemingly focused on improving the ed tech landscape. Companies like Codecademy, and more recently, Skillsoft have already intrigued investors enough to garner big investments, but considering Career Karma’s stature among millennials, it’s certainly a major addition to the fold.