Classwallet.Com Secures Funding From Kaplan Inc., NewSchools Venture Fund and MaverixLab

Matt Tumbleson joins as CMO

MIAMI, FL September 9, 2013: ClassWallet.com, a tool designed to make it easier for teachers to raise, manage, track and spend money for the classroom, has secured separate investments from Kaplan Inc. and NewSchools Venture Fund, as well as an investment from MaverixLab.

Kaplan is the global education company and largest subsidiary of the Graham Holdings Company (NYSE: GHC). NewSchools Venture Fund is a venture philanthropy that partners with entrepreneurs to provide all students, especially those most underserved, with an excellent public education. MaverixLab is a Miami-based business accelerator and early-stage investment fund that assists tech startups by linking entrepreneurs, their ideas, products and services with capital, mentorship, education and business relationships.

“ClassWallet.com has a unique opportunity to finally evolve the historically antiquated approach to funding discretionary spending in K-12 classrooms,” said MaverixLab founder & CEO Joe Morgan. “Jamie has assembled a great team and instilled a great sense of discipline to their idea of bring about true change. That is a rare trait and one that we feel will lead to ClassWallet enacting that change on a global level.”

“The support of Kaplan, NewSchools and MaverixLab validate our efforts to create a cashless paradigm within K-12 education funding,” said ClassWallet.com Founder and CEO Jamie Rosenberg.

In addition to the two investments, ClassWallet.com announced Matthew Tumbleson as Chief Marketing Officer. In this role, he will focus on developing a marketing strategy to propel ClassWallet.com towards accelerated growth and increased brand awareness.

“Matthew is a great addition to the ClassWallet team,” said Rosenberg. “His background is truly unique. He understands complex problems and uses creative thinking to solve them. We look forward to his innovation and fresh approach to marketing.”

Tumbleson joins after successfully taking Seamless.com and GrubHub.com through a merger and subsequent IPO with the New York Stock Exchange. As Creative Director, he and his team launched successful marketing strategies nationwide, while creating brand affinity that bordered on religious. Tumbleson is an advisor to multiple New York-based tech companies, and one of the tech industry’s top people to watch.

At ClassWallet.com, teachers are provided an e-wallet to collect funds for on-going classroom needs, special projects and to purchase supplies within ClassWallet.com’s ecommerce marketplace. The marketplace includes Office Max, School Specialty, Scholastic and other trusted retailers. Parents, foundations and corporations, as well as school and district administrations, can contribute directly to a ClassWallet.com account and designate and track how funds are used to support the classroom. ClassWallet.com can also be used by PTA administrators or parents to collect, manage, and use funds for activities and programs.

To learn more or to sign up for a free account, visit www.ClassWallet.com.

ABOUT CLASSWALLET.COM

ClassWallet.com is a tool that allows teachers to raise, manage, spend and track funds in a cashless, transparent environment using a virtual e-wallet and ecommerce marketplace.

By streamlining the collecting, spending and tracking of funds, ClassWallet.com brings efficiency, transparency and savings to a system that for years has relied on cash, checks and brown envelopes. ClassWallet.com enables teachers to make budgeting and purchasing decisions for the classroom while affording administration and funders appropriate transparency and control.

To learn more, visit www.ClassWallet.com or find us on Twitter @classwallet.

ABOUT KAPLAN VENTURES

Kaplan, Inc. (Kaplan.com) is a leading international provider of educational and career services for individuals, schools, and businesses. Kaplan serves students of all ages through a wide array of offerings including higher education, test preparation, professional training, and programs for kids in grades K through 12. Kaplan is a subsidiary of Graham Holdings Company (NYSE: GHC) and its largest division.

ABOUT NEWSCHOOLS VENTURE FUND

NewSchools Venture Fund is a venture philanthropy that partners with entrepreneurs to provide all students — regardless of where they come from or live — with an excellent public education and the promise of a bright future. Since NewSchools’ founding in 1998, more than $200 million have been raised and invested in a national portfolio of entrepreneurial ventures, including charter management organizations, teacher preparation programs and educational technology companies. These investments have improved educational outcomes for more than 15 million students. To learn more, please visit www.newschools.org.

ABOUT MAVERIXLab

MaverixLab is a Miami based business accelerator and early-stage investment fund that assists tech startups by linking entrepreneurs, their ideas, products and services with capital, mentorship, education and business relationships. By revolutionizing the nature and method of support delivered to startups, MaverixLab drives the entrepreneurial ecosystem towards better decisions and therefore more likelihood of success. Companies that are accepted into the program will receive seed funding, office space, 3 months of regimented business support in Miami and the opportunity to pitch to follow-on funders, strategic partners and potential clients/customers. In addition, the MaverixLab headquarters will serve as an education campus by delivering 21st century skills such as coding, web development and digital marketing for the weightless technology economy.

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