Career Karma is still on a mission to help more people break into the tech industry.
The company — founded by Ruben Harris — seeks to provide those wanting to launch careers in tech by equipping them with the right job training programs and support as they progress throughout their careers. Today, the company has even announced a $40 million Series B funding round that was led by Top Tier Capital Partners, a San Francisco-based global venture capital firm.
With the latest funding round, the company will expand into higher education as well as lock in new key roles at Career Karma.
“There is currently not one company that dominates the reskilling space. Whichever player aggregates demand will become the category leader in the $2.2 trillion post-secondary education market,” said Credit Karma CEO Ruben Harris in an official news release shared with AfroTech. “With over 10 million job openings in the United States and more than 4 million people who have recently quit their jobs, employers are beginning to accept alternative credentials while workers are increasingly choosing these pathways to upskill into roles that are in high demand.”
He continued: “Edtech investment is at an all-time high, the world economic forum has made a commitment to reskilling 1 billion people by 2030 in collaboration with employers and governments, and Career Karma is serving as the sole bridge between workers, schools, and companies.”
Career Karma Success
Since its inception, Career Karma has managed to cross the eight-figure revenue per year run rate, offers more than 25,000 job matching training programs monthly, has driven more than 3 million monthly organic visitors in website traffic, and has hosted thousands of users via its live audio room community.
Now, the company plans to expand from boot camps to higher education further positioning it to achieve its goal of becoming the key destination for all job training.
Currently, Career Karma works with various employers to offer its services as a benefit to both employees and contractors.
Investing In The Future
According to a press release provided to AfroTech, the Series B funding round was led by Top Tier Capital Partners “with existing investors Softbank’s SB Opportunity Fund, Emerson Collective, 4S Bay Partners, and new founders Bronze, Stardust, Toursdale Ventures, Taavet + Sten, GV.”
“Career Karma has grown rapidly since its founding, ” Harris continued. “Customers/Partners such as 2U, Chegg, Southern New Hampshire University (SNHU), Flatiron, and General Assembly have been a key part of leadership in the Bootcamp space. With its expansion into higher education, the company continues to focus on positioning itself as the front-end for all job training. Furthermore, Career Karma is now working with employers to offer Career Karma as a benefit to their employees and contractors, starting with one of North America’s largest luxury retailers joining as the company’s latest partner.”
After launching in 2018, Career Karma hit the ground running and the company has now raised $52 million overall.
More Careers In Tech
“Career navigation is more psychological than technical,” Harris explained.”Many people already have the skills or have the ability to complete job training programs, but absolutely struggle not just breaking into tech but also staying in tech because of imposter syndrome, communication issues, lack of experience networking, limited experience writing on different platforms to thrive in remote work environments, dealing with corporate politics, etc.”
With Career Karma, he understands the importance of having peers, mentors, and coaches who represent the culture and can help people overcome the fear that tells them that the tech field isn’t a good fit.
“Those individuals are able to help people handle corporate politics, communication issues, etc. in a way that nobody else can because they know what it’s like to be in that position, and they had to learn it,” he shared.
Harris further explains why the world of tech has gone way beyond some fancy industry.
“The tech industry isn’t an industry anymore. Every company has to become a tech company, or it will die. And it will be very difficult for those companies to attract and retain talent if they don’t have people internally that represent our culture,” said Harris. ”All of these dynamics are why the great resignation is happening, and there is no greater problem outside of healthcare to solve than helping millions and billions of people get back on their feet.”
Ruben Harris + Black Tech Green Money
In 2020, AfroTech sat down with Harris on an episode of Black Tech Green Money to discuss how the app helps job training programs find qualified applicants.
He explained how he first broke into his career within technology after writing a viral blog post called “Breaking Into Startups.” At this point, it’s safe to say the rest is history in the making.
AfroTech will be sitting down with Harris once again on an upcoming Black Tech Green Money podcast episode set to release on Tuesday, Jan. 18.
Until then, check out Harris’ previous episode below: