Career Karma aims to use the funding to expand into higher education. Here are the top-line bullets you need to know.
Career Karma, an edtech company, has raised $40M in a Series B. The round drew participation from SoftBank Group, 4sbay, Alumni Ventures Group, Kapor Capital, and Google Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Career Karma enables students and working professionals to find job training programs online. It also offers free coaching and mentorship services.
- The company caters to 150K members, and each month it connects over 25,000 people to educational institutions with courses that fit their professional interests.
- Career Karma maintains operations in 20 countries and 9 US states.
Source: Career Karma
WHY DOES THE MARKET MATTER?
- The education technology market is expected to reach a value of $377.9B by 2028, growing at a CAGR of 19.9%, according to Grand View Research.
- Global annual spending on education technology is projected to reach $342B by 2025, according to HolonIQ.
- Edtech solutions are increasingly being adopted to lower content production costs and increase geographical reach.
- The demand for virtual programming and online education has increased amid the pandemic, driving market growth.