ClassWallet.com revolutionizes the way teachers get and spend money for their classrooms. Instead of dealing with cash, checks, and paper forms, teachers establish online accounts through ClassWallet.com. With ClassWallet.com, they can collect and manage money, shop for education products, and keep track of spending—all on one integrated platform.
ClassWallet.com was developed by Kleo™, an education technology company dedicated to improving education by advancing teacher access to critical resources.
Founder Jamie Rosenberg, 15 years experience in the space
Launched company under Kleo brand in Summer 2012 as SaaS technology model
Pivoted to direct-to-teacher model under ClassWallet.com brand. Launched July 28, 2014
The suite of ClassWallet.com services is designed to help teachers get more money and make it easy for them to use the money in the most impactful and transparent way.
The ClassWallet: A single online e-wallet account where teachers can easily receive money from parents, donors, and administration and track, manage, and spend money without handling cash or paperwork.
Integrated eCommerce marketplace: Teachers can shop for innovative products without using cash or credit cards—the money comes right out of their ClassWallet.
CrowdFunding Tools: It’s easy for teachers and schools to post their needs online and for parents, friends, foundations, and partners to donate.
Data Tracking and Accountability: With funding and spending centralized in one ClassWallet, all activities are transparent and data is easy to track, aggregate, report, and analyze.
Smartboards, e-books, electronic notepads, and other technologies have transformed the classroom. But one area has been left behind: supplemental money for supplies, enrichment materials, and field trips is still handled with cash. Even small amounts of cash are cumbersome, hard to track, and subject to theft and fraud… a headache for teachers, parents, administrators, and funders.
ClassWallet.com brings efficiency, transparency and savings to a system that for years has relied on cash, checks, and brown envelopes for managing community funding.
ClassWallet.com has stepped into a huge gap in education technology. More than a product, ClassWallet.com is a whole platform where all aspects of classroom funding and spending are handled electronically. When teachers establish a ClassWallet, parents and other funding sources such as education foundations, corporations, and government can easily donate, transfer, distribute, and deposit funds to classrooms online.
Teachers can then access their ClassWallet to shop through an integrated e-commerce marketplace, fund a reloadable prepaid debit card (coming soon), or transfer to another account holder. Because all transactions occur within one platform, all transactions are fully transparent and trackable.
Classroom-related, supplemental funding and purchasing
Adjacent to the $600 billion K-12 superintendent budget market
Mostly untethered to school administration
3.5mm teachers
Two primary revenue drivers:
Projected average spend per teacher: $475
Projected average gross margin per teacher per year: $73
Product roadmap and marketing designed to capture more use cases and more spend
Saves time and cost
Funds go further
Drives trust and accountability
Applicable in other verticals
High potential for explosive growth
Strong strategic exit potential