A Startup based at London, Koru Kids has raised around £10M in the latest round of their fund raiser. The fund raisers are being carried out to manage funds in order to push their services of searching and availing childcare to a broader level.
Atomicoled, the Series A round saw Niall Wass, Atomico Partner joining the company’s board. Among the participants were some previous investors like AlbionVC, JamJar, Forward partners, 7percent and Rocket internet’s global founder’s capital. This round takes the grand total to a total of £14.1 million.
According to Rachel Carrell, who is the CEO of Koru Kids, their platform is to help working parents that are struggling to keep up with the work and taking care of their kids. The platform is supposed to help parents find a professional nanny for their kid that is properly trained to handle the children. The software will provide communication, payroll, taxation, pension, holidays etc.
According to her, the resulting platform aims to help out parents to ease off their pressure and will produce a large team of trained nannies across the world that can provide their services whenever required. She added that currently parents lack affordable yet dependable childcare and their platforms aim to bridge that gap. The customer base aimed by the company comprises of working parents who have children between 4 and 10 years of age.
In her speech, Carell mentioned that earlier parents didn’t have much choice than to hire a full time nanny which meant added expenses and arranging a room for the nanny as well. She added that by availing their service, parents can ease off and relax as no other service can satisfy their needs Like Koru Kids.
Koru Kids has managed to keep their commission charges down by taking small per hour commissions which are great when you compare it to the nanny agencies upfront fee. She says that the platform wins only when the parents win, showcasing the customer centric approach that the company is trying to go for.