ClassWallet Company Research Report

Company Overview

• Name: ClassWallet

• Mission of the Company: To eliminate the burden of the purchasing and reimbursement process, allowing customers to focus on their mission of making a difference in schools, students, teachers, the community, and beyond.

• Founded By: Founded by Jamie Rosenberg.

• Headquarters: Hollywood, Florida.

• Key People: Jamie Rosenberg (Co-Founder and CEO).

• Number of Employees: No information is available.

• Revenue: ClassWallet ranks as the 88th fastest-growing software company on the Inc. 5000 list and has seen significant revenue growth, including a 610% increase over a three-year period.

• What the Company is Known For: ClassWallet is known for being a leading digital wallet provider for public funds, serving public agencies across 35 states and having delivered more than $4 billion in public funds to millions of citizens.

Products

Digital Wallet Platform

• Description: ClassWallet offers a patented digital wallet technology platform designed for use by schools, state and local agencies to improve the management and distribution of public funds.

• Key Features:

• Comprehensive Platform: Provides a seamless digital solution for recipients to use public funds, online or in-store.

• Total Transparency & Compliance: Includes spending guardrails and audit-ready reporting to meet auditor expectations.

• Painless Implementation: Offers end-to-end services and support for an industry-leading implementation process.

• Exceedingly Secure: Features unparalleled security models and regular audits to ensure high-level cybersecurity.

Solutions

• K-12 Education: Streamlines the purchasing and reimbursement process, with increased transparency and reduced processing time in schools.

• State Agencies: Facilitates fund distribution to numerous users, promoting enhanced compliance and reducing administrative costs.

• Family Scholarships: Supports organizations in disbursing payments and centralizes record-keeping for grant fund distribution, tracking, and reporting.

Recent Developments

• New Products Launched:

• ClassWallet has formed an Early Care and Education "Center of Excellence" to focus on helping child care providers and families.

• Recent Partnerships:

• ClassWallet has been awarded new contracts to manage education programs in various states such as Arkansas, Idaho, Alabama, North Carolina, and others.

• Recognition and Achievements:

• Achieved A+ rating and accreditation from the Better Business Bureau (BBB).

• Ranked number 114 on the 2023 Deloitte Technology Fast 500 list.

• Recognized by J.D. Power for providing "An Outstanding Customer Service Experience."

• Made the Inc. 5000 list of fast-growing private companies for the third consecutive year.

• Key Corporate Developments:

• Closed a $95 million funding round to continue reshaping the way state and local government agencies do business.

• ClassWallet has been selected by multiple states to manage large public funding programs, such as the LEARNS Act Education Program in Arkansas and the ESA+ Program in North Carolina.

Summary

ClassWallet stands out as a pivotal financial technology company that simplifies the efficient distribution of public funds via its robust digital wallet platform. With continual recognition and partnerships, it is an influential player in the edtech and govtech fields. However, specific details such as number of employees and a comprehensive product list remain undisclosed in the available data.