Koru Kids, the platform for finding and managing childcare, has announced a £10m Series A investment to scale the company’s childcare offering, in keeping with the company’s mission to profoundly 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.”
Niall Wass, Partner at Atomico, added: “Solving childcare for working parents is painful, time-consuming and expensive. We are backing Rachel and the Koru Kids team to build the digital solution to match families & their kids with top quality, trusted care – making it simpler, safer and cheaper for the family, whilst creating flexible and higher earning opportunities for childcare professionals. We believe in their goal of becoming the most trusted name in childcare.”
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 an increasing headache 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 outpaced 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, expand the offering with new products & services, expand to new cities and expand their team.