Joonko

Joonko sold an AI platform that promised to surface diverse, pre-qualified job candidates into corporate hiring systems, and it raised about 38 million dollars, including a 25 million dollar Series B in 2022 led by Insight Partners, on the strength of a client list that named Adidas, PayPal, and others. In June 2023 the company's own board found that founder and chief executive Ilit Raz had fabricated customers, revenue, bank statements, and contracts; the real business was a fraction of what investors had been shown. Operations were wound down within days, and the company filed for bankruptcy in May 2024. The following month the SEC and the Department of Justice charged Raz with defrauding investors of more than 27 million dollars. Joonko is the archive's clearest case of a product that was less artificial intelligence than artificial traction.

Founded

2016-01

Shut down

2023-06-25

Funding raised

$38M

Years alive

7

Founders

Ilit Raz