London-based Koru Kids, the company which helps parents find and manage childcare has confirmed picking up £10 million in Series A capital led by Atomico. The existing backers, AlbionVC, Forward Partners, Samos, JamJar, Global Founders Capital, and 7Percent also participated in the fundraising. Prior to this round, Koru Kids has secured £3.5M in seed financing last year in May. The current infusion takes the total amount raised by the company to £14.1 million.
Rachel Carrell founded the company in 2016 and describes it as a “full-stack” product that recruit, train, match, and provide on-going support and training to its nannies. The main motive of the firm is to simplify the lives of working parents by offering these services.
The platform allows the parents to share the nannies with other kids as well. This way, the cost of the nanny comes down while the working nanny gets additional pay and the kid will have a friend to spend their time along with the nanny.
Talking about the investment and company Carrell says, “Despite being critical infrastructure for our society, childcare has been overlooked for far too long. We’ve already seen how profoundly our services can improve the well-being of families, as well as older adults and children who have a chance to connect with another generation while working. We’re excited for Atomico to help us scale our vision of building a completely new way of doing childcare so even more families can benefit.”
Atomico partner Niall Wass commenting on the capital infusion said, “Solving childcare for working parents is painful, time-consuming and expensive. We are backing Rachel and the Koru Kids team to build the digital solution to match families & their kids with top quality, trusted care – making it simpler, safer and cheaper for the family, whilst creating flexible and higher-earning opportunities for childcare professionals. We believe in their goal of becoming the most trusted name in childcare.”