Koru raises $4.35 million in funding
Koru is an education startup company that has raised $4.35 million in funding. The lead investors in this round was Maveron. Other investors that participated in this round include Battery Ventures, First Round Capital, and Andreessen Horowitz. Koru will be using the funding to build an online/offline business that focuses on transforming how college graduates prepare for success in the real world.
Koru was founded by Kristen Hamilton (CEO) and Josh Jarrett (chief learning officer). Hamilton was the a co-founder at Onvia and is the former COO of World Learning. Jarrett was the Head of Higher Education Innovation at the Bill & Melinda Gates Foundation and used to work at McKinsey & Co.
“The process of transitioning from college into the workforce is fundamentally broken,” stated Hamilton. “Graduates don’t have a roadmap, and most have never even been in a working office. They are entering the job market without the context, specific skills and real word experience they need to get hired and put their degrees to work. From the employers’ side it’s just as bad: they have entry-level positions they struggle to fill with great people because they have no acceptable proxy measurement for quality in a hire without first hand experience. Meanwhile retention rates for millennials are dismal. At Koru, we believe there is a way to transform the college-to-career landscape and to fix this problem, for all involved.”