Kaleidoscope Group, a Minneapolis-based company that has developed a software platform for the management of private scholarships and grants, secured $3m in as part of its series A financing round.
Rally Ventures made the investment. In conjunction with the funding, Justin Kaufenberg, Rally Ventures, will be joining the Kaleidoscope Group Board of Directors. A total of $6 million in capital has been invested in Kaleidoscope Group since 2016.
The company plans to use the funds to accelerate the expansion of its sales and marketing efforts in the United States.
Led by Greg Dehn, Founder and CEO, Kaleidoscope provides a proprietary platform used by private scholarship and grant sponsors to host their branded online applications, empowering them with an entire suite of integrated tools. These tools power everything from online fundraising and donor relationship management, to applications, recommendations, scoring, selection, and award disbursement; it is also already used by hundreds of thousands of students to access education funding. Clients include corporations, foundations and individuals.