Online banking solutions for schools that empower educators to improve the learning experience.

  • Education
  • Miami, FL
  • 7 employees

Kleo is raising $300,000 on EarlyShares.
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Who We Are

Kleo brings the 21st century convenience of cloud based virtual wallets to schools and classrooms, creating a whole new paradigm for the way teachers, administrators, and parents handle donating, collecting, and tracking the billions of dollars of discretionary funds that flow through the K-12 school system each year.

With virtual wallets - KLEOaccounts™ - for teachers and administrators, parents and other funding sources such as education foundations, corporations and government, can easily donate, transfer, distribute and deposit funds to schools and classrooms electronically.  

Teachers and administrators can then access their KLEOaccounts™ to shop through an integrated e-commerce marketplace, fund a reloadable prepaid debit card, or transfer to another account holder.  Because all transactions occur within the Kleo platform, all transactions are fully transparent and trackable.  

With increased efficiency, cost savings, and transparency, Kleo helps teachers and administrators save time and money, and enables supplemental dollars to go further for a bigger impact on student learning.

Why We're Here

Technology has transformed the classroom, from blackboards to smartboards, notebooks to iPads and textbooks to e-books. But one area of K-12 education has been overlooked: discretionary classroom cash.

There is a staggering amount of bureaucracy involved in managing even the most micro of funding and spending in K-12 education. Handling funds is cumbersome, finances are hard to track, and cash is subject to theft and fraud.

The K-12 education system is ready for a 21st century solution.

What We Do

Kleo enables teachers and school and parent teacher organization administrators to receive discretionary monies in one place, online through our proprietary KLEOaccounts™.

Building on the KLEOaccounts™, we have developed an industry-disruptive suite of funds management, e-commerce, and fund raising services on one platform, helping educators get more money and making it easy for them to use the money in the most impactful and transparent way possible.

The KLEOplatform™ is comprised of the following components:

  • KLEOaccounts™ - virtual ewallets where users can centralize and aggregate funds in one place, online
  • KLEOcard™ - an integrated reloadable, debit card
  • KLEOapps™ - applications that make it easy to donate, distribute, or transfer funds
  • KLEOnetwork™ - an integrated, proprietary, closed network of vendors and product

Who We Serve

The KLEOplatform solution streamlines ALL aspects of discretionary cash in the classroom, empowering educators, saving parents and funders time, satisfying administrators' need for accountability, and ultimately improving the learning experience for the students.

How We Make Money

Kleo derives revenue from multiple sources.

Our Potential

K-12 “micro-transact” adds up to a $23B potential macro market that has been virtually overlooked. Other markets exist in the philanthropy space ($300B) and greater K-12 space ($1.3T).

Our Advantages

Kleo is first-to-market with a proprietary suite of services that integrates crowd-funding and an e-commerce marketplace with virtual wallets and prepaid credit cards.

With Kleo, educators and parents eliminate

  • Cumbersome paperwork
  • Reimbursement hassles
  • Concerns about fraud and theft
  • Awkward asks for cash

Plus, with Kleo it’s easy to

  • Give and distribute funds
  • Buy innovative products at low prices online
  • Organize and fund field trips
  • Shop using the reloadable debit card
  • Track and control online accounts


Kleo has built an ecosystem of relationships and capabilities that would be hard for a competitor to replicate quickly.

Our Progress So Far

Current customers include

    • Large school districts in US: Los Angeles (2nd), Miami-Dade (4th), Jacksonville (15th), Albuquerque (28th),
    • Large student information system: Pearson’s Powerschool
    • Large nonprofits: Reading is Fundamental, AdoptAClassroom.org.  
  • Management
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      James Rosenberg

      CEO, Founder

      James has 15 years of experience in the space. Founded AdoptAClassroom.org in 1998 – country’s leading education philanthropy platform. Has raised $25M and distributed funds to 150,000 classrooms across US. Improved the learning environment for 3.5M students. No one knows philanthropy for educators better. Has won several awards for his work with schools and corporations.

    • Thumb michael karavolos

      Michael Karavolos

      Chief Product Officer

      Michael previously was a Director at Kaplan University where he led a product management team of direct reports to develop the product roadmap for the Custom Client services line. Michael also collaborated with a team of executives to build the business plan for an internal start-up initiative that won $6M in funding. Michael has a wealth of experience in product management, market research and analysis, and financial analysis and budgeting.

    • Thumb dave castella

      Dave Castella

      VP, Sales

      Prior to joining Kleo, Dave was National Sales Director at Blackboard, Inc. where he lead sales teams in North America across many verticals. Before Blackboard, Dave was Vice President of Partnerships at Learn.com managing the company’s largest relationships, including Taleo, which eventually acquired Learn.com.

    • Thumb andrew

      Andrew Latimer


      Prior to joining Kleo, Andrew was the founding CTO of 24/7 Prepaid Card. Previously he held key senior IT roles at PeopleSupport from startup to IPO to acquisition by Aegis.

  • Advisors
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      Michael Edell


      Michael is the founder and former CEO of eLabor.com which he sold to Microsoft. After exiting eLabor, Michael spent time coaching and mentoring entrepreneurs. He currently is CEO and Co-Founder of MaddieBrit Products, LLC, a manufacturer of ecofriendly household products.

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      Dan Cane


      Dan Cane is the co-founder and former CTO of the leading education company Blackboard, Inc, which he took public in 2004 and, in 2011, was purchased by Providence Equity for $1.64B. Dan is currently CEO and Founder of Modernizing Medicine, an electronic medical records system.

    • Thumb hans hickler

      Hans Hickler


      Hans Hickler is the former CEO of DHL Express USA and former CEO DHL Global Customer Solutions. Hans currently dedicates his time as a coach and advisor to CEOs and executives, startup entrepreneurs, social entrepreneurs.

You must be an accredited investor and request access from the company to access the confidential offering material and information.

You must be an accredited investor and request access from the company to access the confidential offering material and information.

You must be an accredited investor and request access from the company to access the confidential offering material and information.

You must be an accredited investor and request access from the company to access the confidential offering material and information.

You must be an accredited investor and request access from the company to access the confidential offering material and information.

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Quick Facts
  • Cloud based, online-only bank accounts and prepaid debit cards for discretionary classroom cash management
  • Potential $23B macro market of K-12 "micro-transactions"
  • 50,000+ teachers, parents, and administrators are current users
  • 50+ vendor partners including Best Buy, Office Max, Scholastic School Specialty
  • Large school districts and nonprofits already using the platform
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