Koru Kids, the platform for discovery and handling childcare, has announced a £10m Series, an investment to boost the company’s childcare offering, in keeping with the company’s mission to intensely improve the well-being of families.
The latest investment is led by Atomico with participation from previous investors AlbionVC, Forward Partners, Samos, JamJar, Global Founders Capital, and 7Percent.
Koru Kids Founder Rachel Carrell said: “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.”
Koru Kids provides an online platform for finding and managing childcare. Once they match families and nannies, Koru Kids takes care of administration, from contracts to payments and pensions. The business then selects and trains the top students and older adults in London as nannies, accepting less than 6% of applicants.
Childcare is a popular trend for UK families balancing work and family. Arrangements can be difficult and expensive, as 91% of local authorities in London have significant gaps in the supply of childcare available to their communities and the cost of childcare to families in the UK has augmented inflation by 2.5x in the last 15 years.
Koru Kids has raised £14.1m to date. The round will be used to grow the sole care and nanny-share services, to increase the offering with new products & services, and to grow in new cities..