Toronto-based Kira Talent Inc. has closed a $5 million Series A round. The startup’s existing investors—Relay Ventures, BDC Capital IT Venture Fund, Globalive Capital and Roger Martin—all participated in the round.
Kira, creator of the first video admissions and talent assessment platform for higher education, says it plans to use the funds to improve its client experience and develop technology focused on supporting the entire student journey, from the admissions process through to job placement.
According to CVCA data, Kira closed its first undisclosed seed round, led by Relay Ventures, back in November 2012. It raised an additional $2 million in seed funding from Relay Ventures and 18 undisclosed angel investors in September 2013. Their most recent investment in January 2015 was a $1.5 million seed round backed by Relay Ventures, BDC Capital Inc., and Slaight Communications.
Kira says the ongoing support from these investors has enabled them to expand considerably. 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,” says Craig Morantz, CEO of Kira Talent.
Alex Baker, Partner at Relay Ventures, says the firm has backed Kira from the beginning for a multitude of reasons, including the team’s persistence, their ability to identify a market in academia where there was immediate product market fit, and being able to efficiently grow revenue since its very first seed investment after completing The Next 36 program.
Relay Ventures and BDC Capital IT Venture Fund are both members of the Canadian Venture Capital and Private Equity Association.