Local Tech Startup Kaleidoscope Closes $1.3m Equity Round

Local startup Kaleidoscope has closed on a $1.3m equity funding in an over-subscribed round, says the founder & CEO Greg Dehn.

The round was led by Gopher Angels and application of funding is sales & marketing, in addition to R&D product development.

“Gopher Angels was phenomenal to work with as an entrepreneur” Dehn says of the experience. Also participating in the round was Yono Ventures in NYC, while gener8tor converted debt into equity from their accelerator program (final pitch above).

Local CFO Jeff Peterson & Livio Health Founder/CEO Mike Nathan will be joining the Kaleidoscope board.  It was just last month that Gopher Angels announced a number of new startups in their portfolio and Kaleidoscope is the latest tech firm.

The company has a created a SaaS platform for students to find scholarships more efficiently and for those granting them to further their investments through branding. The scholarship space is a $250-$200 billion dollars per year industry with over $100 billion of that money sourced from the private sector, which Keleidoscope is focused on.

Dehn declined to get into specifics yet about the number of paying customers or sizes of any accounts, but did mention recently signing ECMC Group. They generate revenue by collecting a price per application paid by administrators for their branded and hosted scholarship marketplace.

“We have exceeded 20,000 student profiles on our platform, which has been great for us in terms of proving product-market fit,” Dehn says about the student side of things,

Since introduction, Kaleidoscope has raised ~$1.75m total and grown to five employees.

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Comments

  • Daren Cotter

    Congrats Greg & team! The marketplace you’re building is going to be a great value-add to all stakeholders. Congrats also to gener8tor MN!

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