Career Karma Raises $40 Million Series B




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ty

Career Karma, which provides career coaching and peer mentorship, has raised a $40 Million Series B and will expand into higher education and the enterprise.

Employers and higher education institutions are using their reach and brands to provide new options for learners, while governments are starting to incorporate micro-credentials into policy, funding and qualifications frameworks, according to Career Karma officials.

Career Karma officials noted the 10 million open jobs in the United States and more than 4 million people quitting jobs as part of The Great Resignation creates the need for employers to accept alternative credentials and workers to upskill into these on-demand roles. Career Karma is designed to match job-seekers to the right job training program and give them support for the rest of their career.

Career Karma’s software can function as a bridge between workers, schools and corporations, company officials said.

It does this by:

  • Offering an online library of content (reskilling advice)
  • Helping workers select the best job training program for them (its marketplace)
  • Supporting workers before, during, and after their training in its Live Audio Rooms (events)

“The purpose of our technology is to give people a voice, the power to create, and the power to organize,” Career Karma CEO Ruben Harris wrote in a blog post. “Now, anybody can have that power by creating live audio rooms on the Career Karma platform.”

Live audio rooms helps people connect to peers, coaches and mentors that give them support in reaching career goals. Further, schools and companies can interact directly with people in the Career Karma community who have questions about their courses or jobs that they are offering. Career Karma in 2016 launched the Breaking Into Startups Podcast and now wants to position Career Karma’s Live Audio Rooms as the “town square for all career transitioners on the internet,” according to Harris.

Career Karma closed a Series A last year. It has now raised $51.9 million, according to Crunchbase. Career Karma was founded in 2014 in San Francisco. It has been a remote company since then and has a team that works in over 20 countries and nine states. It moved its company base to Miami.  



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