Koru Kids, a London-based startup behind a platform which allows parents to find and manage childcare, has raised £10 million in Series A funding. The company’s latest investment brings its total funding to date to £14.1 million.
The round was led by international technology VC firm Atomico with participation from previous backers Albion VC, Samos, JamJar, Global Founders Capital, Forward Partners and 7Percent.
Launched by chief executive Rachel Carrell in 2016, the Koru Kids platform and app help parents find and manage their childcare. Families are matched with trained and vetted nannies, with the app handling everything from contracts to payments and pensions.
“Despite being critical infrastructure for our society, childcare has been overlooked for far too long,” said Carrell. “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.”
As part of the Series A investment round, Atomico partner Niall Wass will join the company’s board. He said solving childcare for working parents is “painful, time-consuming and expensive”, adding that he believes in Koru Kids’ goal of becoming “the most trusted name in childcare”.
The startup said its latest investment will help it expand its offering with new products and services. It also has ambitions to expand its team and launch in new cities. The business trains its own nannies in London, claiming to accept less than 6% of all applicants.