FutureFit AI Raises $ 5.7 Million to Expand Career Navigation Platform

JPMorgan Chase and Acumen America co-led the round.

Toronto-based FutureFitAI (formerly AudaciousYou) has secured C $ 5.7 million in a wholly-owned round. Closing the salary increase in December, this represents the company’s first institutional funding round.

The funding was jointly led by American investment companies JPMorgan Chase and Acumen America. Carlyle Singer, President of Acumen, will join Future Fits’ board of directors as part of the investment.

FutureFit will accelerate its product innovation efforts and expand its workforce, backed by the initial organizational funding.

In what FutureFit described as an oversubscribed funding round, the other investors who participated were Juvo Ventures, Sorenson Impact Foundation, Emerge Education, Techstars, and Plug & Play Ventures. Angel investors Martin Basiri (Co-founder and CEO of Applyboard), Blair Miller (founder of Nextwork), and Warren Valdmanis (founding partner of Two Sigma Impact) have also invested in FutureFit.

A FutureFit spokesman chose not to label the funding round as a seed or Series A, etc. to BetaKit, given the characteristics that FutureFit may be associated with different round labels with the liquidity of the border market. He said he did.

Founded in 2019 by CEO Hamoon Ekhtiari, the Future Fits platform uses labor market data and machine learning algorithms to identify the starting point of the workforce, recommend optimal career path destinations, and learn, resources, and more. And build a personalized roadmap for work opportunities. The company claims that the technology focuses on individual workers through a fair lens.

When Ekhtiari moved to Canada 20 years ago, not knowing English became a barrier and only added to the challenge of navigating the labor market. Not only did he have to face his own struggle abroad, but his parents, his skilled professionals, named in his resume to be considered for entry-level work. I explained that I had to see the change.

The opportunity to build systematic solutions to support people of all backgrounds and maximize their economic potential is very important to me and is part of FutureFit AI’s core mission and values. He said it was influential.

Related: FutureFit AI, Canada Learning Code receives $ 1 million from TD Ready Challenge

FutureFit said the COVID-19 pandemic had a disproportionate impact on underserved people. In response, the company is investing more in ways that can support a fair economic recovery.

FutureFit will accelerate its product innovation efforts, expand its workforce, and meet the demand for career navigation and skill upgrades as people return to work, supported by initial organizational funding. ..

FutureFits’ past funding includes a $ 1 million prize from the TD Ready Challenge. It allocates $ 10 million annually to US and Canadian initiatives.

Feature image courtesy of Future Fit

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