AstrumU, a Bellevue, Wash.-based startup that developed a employee expertise knowledge platform, is closing.
Adam Wray, the corporate’s CEO and founder, confirmed the shutdown and mentioned the corporate is bancrupt.
Based in 2018, Astrum bought off the bottom with a platform that aimed to calculate the worth of a person’s expertise and experiences within the labor market. It initially generated income from faculties and employers.
Wray advised GeekWire in 2018 that his aim was to be the “true North Star for college students and universities,” serving to match expertise and expertise with impactful careers.
Wray mentioned on Thursday that the corporate was attempting to use AI to extract and confirm a person’s expertise from a number of knowledge sources. However he mentioned the corporate was too early to market by a number of years and ran out of capital “earlier than we may apply the learnings at scale.”
The corporate raised greater than $50 million so far, Wray mentioned, and employed greater than 70 individuals at its peak. It had 30 staff as of this week, in keeping with LinkedIn.
Kingdom Capital led a $7.6 million spherical in 2020. Different traders embrace Ignition Companions; Correlation Ventures; the College of Kansas; KC Rise Fund; ASU ScaleU; Metropolis Mild Capital; Heidrick Struggles chairman Adam Warby; Docusign founder Court docket Lorenzini; and the College of Kansas, the place the corporate was initially incubated.
Wray beforehand served as CEO of Tier 3, a Bellevue-based cloud computing firm that offered to CenturyLink in 2013. He later was CEO of Seattle-area database firm Basho Applied sciences.
Kaj Pedersen, CTO at AstrumU since 2019, is retiring, in keeping with a submit on LinkedIn.
