ClassBank (formerly ClassEquity), an EdTech company that equips K-12 students with essential financial literacy skills through a digital school currency platform, is thrilled to announce that it has closed $ 1 million in pre-seed investment and grant funding. The backers include Brass Ring Ventures, led by exited edtech founder and CEO Miriam Altman-Reyes, Daniel Jhin Yoo, CEO of Goalbook, and The Yass Prize.
Launched in the fall of 2021 by former middle school math teachers Abby Coyle and Katie Gracey, ClassBank transforms classrooms into communities. Students are empowered to play an active role in their learning environment, take responsibility beyond themselves, and build financial commitment in a safe space. The company has helped hundreds of thousands of students succeed inside and outside the classroom, instilling a sense of hope and a brighter future. By integrating financial education into everyday learning, the platform empowers schools to foster positive behaviours and build stronger, more engaged communities.
Speaking on the fundraising, Abby Coyle, Co-founder and CEO of ClassBank, said:
This financing provides critical fuel to help us achieve our revenue and growth targets by investing in marketing and sales resources, ultimately empowering us to extend our impact in underserved communities.
ClassBank was established to address a problem that co-founders Abby and Katie experienced as educators in deprived communities. They believed that every student should be prepared to face the world after school. However, they also believed that they needed to provide an engaging and relevant learning environment for their students. To address this issue, Abby and Katie created a unique solution that blends financial literacy and classroom management into one simple system, making it seamless for teachers and entertaining for students.
Michael Ladipo, Senior Associate, added:
Ruthless for Good, a fund focused on investing in BIPOC and women-led companies in education and the future of work, contributed a significant portion of the raise. We were excited to invest in ClassBank because of its focus on student economic empowerment and its teacher-driven design. We strongly believe in their mission to take a community-driven, hands-on approach, helping students understand financial decisions before they face real-world challenges and ramifications.
With this funding, ClassBank plans to expand its work with schools and districts nationwide, seamlessly integrating financial literacy education into existing curricula while fostering a positive school culture and climate.
