Education Technology Startup Kleo, Inc. Closes $635,000 Series A
Kleo, Inc., which has a first-to-market, proprietary funds management, philanthropy and ecommerce platform for the K-12 education space, has closed its $635,000 Series A. The round was led by El Paso Advisors, and includes such luminaries in the education technology space as Blackboard co-founder Dan Cane.
Kleo was started by James Rosenberg, a pioneer in the crowd funding space. His first venture, AdoptAClassroom.org, started in 1998, is the first crowd funding site in education and, according to many, the first crowd funding site on the Internet.
Kleo is often described as PayPal™ plus Amazon™ for education. The company establishes virtual wallets, like PayPal™ accounts, for schools, teachers, students and parent teacher organizations, through which users centralize and aggregate philanthropic and administrative dollars in one place, online. Kleo’s integrated ecommerce engine, like Amazon™, but specific for education, enables users to purchase resources without the need of a credit card or requisition form. Because all transactions occur within the Kleo ecosystem, all purchases are transparent back to the funding sources and donors.
Kleo offers a suite of crowd funding tools as well, combining the power of funds distribution and fund raising within a single, industry-disruptive platform.