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
Small biz makers worry Trump tariffs could be ‘recipe for recession’; Economists, farmers share concerns about trade war
An enthusiastic smile spreads across Katie Mabry Van Dieren’s face as three small groups of new customers flow into her Brookside Plaza shop — a space filled as high as the Shop Local KC owner can reach with colorful, off-beat, and functional goods and gifts from Kansas City makers. “We smelled something wonderful from outside…
Sustainable data center near downtown KCMO to help power capacity with $143M investment
Kansas City is building on its reputation as a hub for partners looking to tap into a region rich with infrastructure built for the future, said Steven Anthony, announcing the grand opening of another major, sustainable data center in KCMO. Edged — a vertically integrated global platform of on-demand data centers with operations designed to…
Potato Potatas grows the business of comfort food from the ground up (and in a pot pie)
Two years ago, Trine’ce Brown took note of restaurant chains like Chipotle and Qdoba, and wondered why there wasn’t already a fast-casual potato bar concept. She decided to start her own — but taking small steps, first working out of a Northland kitchen commissary, the Culinary Center at the Mid-Continent Public Library, starting in May.…
KC2026 team hires cybersecurity, explosives expert for key World Cup ops-planning role
In its latest high-profile move, the team behind Kansas City’s 2026 World Cup planning has tapped a former U.S. Secret Service special agent — notably the veteran of a years-long United Nations General Assembly assignment — to lead KC2026’s safety and security efforts. Kyle Postell already has led critical infrastructure protection efforts, conducted comprehensive vulnerability…