Kira Talent, which provides a video-based talent assessment platform for university and college admissions, announced the raise of a $5 million Series A.
The company’s total funding to date is $8 million, including a $1.8 million round in 2013 and a $1.2 million round in 2014. The company will use the funding to develop technology focused on the entire student journey, from admissions to job placement.
The round was led by investors Relay Ventures, BDC Capital IT Venture Fund, Globalive Capital, and Roger Martin.
“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 Talent is currently used by more than 150 schools around the world including Yale, Northwestern University, Imperial College London, and Hong Kong University of Science and Technology. The company said that it expects more than 250,000 students from more than 110 countries are expected to have used the platform by the end of 2016.
Kira launched its platform 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 specifically for law, medical, and engineering programs. The company plans to use the information collected from these specialized programs to develop its methodology.
“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,” said 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.”