AstrumU, an edtech startup based in Kirkland, Washington, has raised $7.6 million in a Series A funding round to fuel growth of its platform that aims to translate educational experiences into economic opportunity.
The round was led by Kingdom Capital, with participation from Heidrick Struggles chairman Adam Warby and DocuSign founder Court Lorenzini. KC Rise Fund and City Light Capital also invested in the round, according to reports.
Founded in 2017, AstrumU is on a mission to quantify the return on education investment for learners, education providers, and employers. It helps colleges and universities figure out how coursework translates into jobs after college, while assisting them in securing industry partnerships that lead students seamlessly into high-demand career pathways.
The Seattle-area startup crunches data from colleges and employers to help students find careers based on specific skills, courses, and extracurricular activities.
Commenting on the development, Adam Wray, Founder and CEO of AstrumU, said,
“They’re [Student] seeking an understanding of which skills are most relevant in the labor market and how those skills connect back to educational offerings, and they need that information in real time, not just through annual surveys.”
“Whether it’s a tough economy or a booming economy, talent strategy is ultimately what’s going to drive our long-term recovery, and the same is true for the large employers and universities who work with us. Investing and reinvesting in education and lifelong learning is particularly important at a time when jobs are scarce and workers need assistance to retool for new careers.”
AstrumU provides a platform for institutions to partner with it to drive enrolment and increase alumni and corporate engagement, while extending economic mobility opportunities to all learners, and employers to identify and recruit talents based on quantifiable skills from verifiable data.
The company said the latest funding will allow its team to focus on its mission of translating lifelong learners’ educational experiences into economic opportunity, and also give the company financial cushion amid the economic crisis. AstrumU, which currently employs 33 people, also plans to hire additional staff this year.
Meanwhile, the latest raise has taken AstrumU’s total funding to date to $13.2 million, according to the company. Its previous investors include Ignition Partners, Correlation Ventures, the University of Kansas, and ASU ScaleU.