Kira Talent, creator of a video admissions and talent assessment platform for higher education, announced the closing of its $5 million Series A financing round. Following two Seed rounds, totaling $1.8 million in 2013 and $1.2 million in 2014, Kira tripled its funding this year raising $8 million to date.
The company will use the funds to provide greater value for clients and develop technology focused on supporting the entire student journey from the admissions process through to job placement.
After tremendous growth over the last year, Kira secured increased contributions from investors Relay Ventures, BDC Capital IT Venture Fund, Globalive and Roger Martin. Kira is now used by more than 150 schools around the world including Yale, Northwestern, Imperial College London, and Hong Kong University of Science and Technology. More than 250,000 students from more than 110 countries are expected to have used the Kira platform by the end of 2016.
“We’re proud that this group of investors continues to share our vision. Their contributions prove that Kira is earning a reputation as the most modern, easy-to-use holistic admissions tool,” said Craig Morantz, CEO of Kira Talent. “We don’t expect grades to be thrown out the window, but we are seeing a trend that test scores and essays are becoming less relevant, while competency-based assessments focused on fit and potential are becoming far more important. This is an essential milestone along the path to achieving our long-term vision of helping students find their place in the world.”
Kira launched its academic solution in 2014 as a recruitment tool for general undergraduate programs and business school applicants. The company has since expanded its offerings in the post graduate space, providing a personalized platform for top law, medical and engineering programs. As these specialized programs are added to Kira’s repertoire, the company will continue to use the information collected to further enhance its Kira Methodology and help students along their academic journey as they search for the right career fit.
“Hundreds of academic programs have come to rely on Kira’s platform and our methodology. With a proven track-record of improving classrooms, we look forward to continuing to be trailblazers in this space,” adds Morantz. “Today, Kira is changing how higher education institutions assess applicants because the system is antiquated and schools are missing out on excellent students. Tomorrow, we plan to follow the entire student journey all the way through to employment.”