Dealflow | January 11, 2022

Career Karma raises $40 million to reskill workers for digitally-based careers

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, January 11 – Nine out of 10 employers see or expect to see skill gaps in their workforce. San Francisco-based Career Karma provides online and in-person job training in coding, web design, cybersecurity, data science and analytics for more than 25,000 monthly users, most of whom are people of color.

The company’s $40 million Series B round was led by Top Tier Capital Partners, with participation from GV, Softbank, Motley Ventures, Kapor Capital, Backstage Capital and Alumni Ventures Group.

Most of the Black-led company’s early investors are women and people of color, according to CEO Ruben Harris.

Quality jobs

Career Karma will offer courses in partnership with colleges and universities and with companies seeking to upskill and reskill their employees. The company is moving its headquarters to Miami to provide job training for tech workers.

“If the local people don’t get the skills to take advantage of the job opportunities provided by the VC’s and entrepreneurs that are also moving there, the cost of living will go up and the same gentrification situation that happened in San Francisco will happen there too,” writes Harris.