Blooom wins Kauffman Foundation pitch bout, $10K
November 18, 2015 | Bobby Burch
Can anything stop Blooom?
Continuing its streak of wins and successes, the financial tech firm on Wednesday morning won a national pitch contest at the Ewing Marion Kauffman Foundation.
Leawood-based Blooom beat out four other finalists in the inaugural One in a Million pitch contest, which initially drew more than 350 applicants. Blooom survived several rounds of cuts to win $10,000, adding to its impressive resume of wins that includes the Finnovate Conference’s Best in Show, a $50,000 Launch KC grant and many others.
“We’re very grateful to win this award,” Blooom president Greg Smith said. “We’re trying to solve a problem that affects millions of middle-class Americans that have never gotten help before. I think that mission resonates with people. We like to get validation, but really what drives us is the ability to help people with arguably their biggest financial worry.”
Blooom created an online 401(k) management tool that helps users grow their account through professional management. The tool uses a flower in various growth stages to symbolize the health of one’s 401(k) and offers professional advice on how to allocate funds.
Blooom CEO Chris Costello said during his pitch Wednesday that his company has clients in all 50 states and manages more than $150 million. The company in October raised $4 million in a Series A round that will expand its staff and marketing.
As judges of the One in a Million contest deliberated, audience members issued Blooom CEO Chris Costello a barrage of questions, hinting that a win may be imminent. Costello also faced a judging panel full of esteemed businesspeople, including Sprint CEO Marcelo Claure, Techstars partner Nicole Glaros and Miriam Rivera, Google deputy general counsel.
San Antonio-based Drybox won the second-place of $5,000, while SwineTech of New Sharon, Iowa took the third-place prize of $1,000. The One in a Million competition, held during Global Entrepreneurship Week, allowed firms around the nation that participated in the foundation’s 1 Million Cups program to compete for the funds.
Featured Business
2015 Startups to Watch
stats here
Related Posts on Startland News
Dublin down on shenanigans: Smoke Brewing goes green with St. Patrick’s season pop-up
St. Patrick’s Day-themed Shenanigans is now open in downtown Lee’s Summit. But just until March 23. The owners of Smoke Brewing Company at 209 S.E. Main St. decked out the barbecue restaurant and brewery in floor-to-ceiling St. Paddy’s decor, and have food and drink specials to match. It’s a way to make St. Patrick’s Day…
How Trump’s win on DEI means fewer fresh foods for KC’s east side; USDA rakes back critical grant for farmers market
An ambitious plan to create greater food security through urban farming won’t be entirely uprooted by efforts to dry up federal funding for projects linked to equity and access, said Alana Henry — but its harvest likely will yield dramatically less. “Doing right by people is always the right answer,” said Henry, executive director of…
‘Black-owned dining passport’ launches in response to Trump’s attacks on diversity
A new effort encouraging support for local, Black-owned businesses — many in Kansas City’s historically redlined neighborhoods — is a timely reminder of the purchasing power in each diner’s hands, said Brandon Calloway. Kansas City G.I.F.T. on Friday launched the first edition of its “Savor The Flavor” Black-Owned Dining Passport, which features 13 restaurants. Diners…
As ICE threat scares customers, Kansas City businesses urged to ‘protect people working for you’
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. After a highly publicized raid on a Mexican restaurant in Liberty, Missouri, earlier this month, immigration advocates and attorneys are rushing…