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
Ice Cream BAE founder turns to Laotian home-cooking, offering up Mama’s egg rolls from new Lenexa noodle spot
Lenexa Public Market will soon be home to a new kitchen serving a mix of authentic flavors from Laos and Thailand — an authentic-to-home concept from an entrepreneur known for bringing fresh culinary experiences to diners from North Kansas City to South Johnson County. Chef and owner Adison Sichampanakhone plans a January opening for Saap…
Just funded: KCMO unveils $200K in grants for nearly two dozen restaurants, bars, coffee shops
Kansas City has an “enormous appetite” for outdoor dining, said Wes Rogers, highlighting the growing need for city leaders to be responsive to evolving industry and small business trends — and championing KCMO’s new outdoor dining grants program. Officials on Tuesday announced 20 inaugural recipients of the Outdoor Dining Enhancement Grant. It’s an initiative —…
How one hard-wearing menswear brand designed a new KC denim story fit for global appeal
Stepping into Guevel is a little like peeking behind the scenes into Cameron Niederhauser’s own wardrobe, the designer said — at least when it comes to the menswear store’s in-house line. “We make a couple of shirts that are inspired by old, vintage pieces in my own closet,” the Guevel owner explained. “Our denim is…
Startup: Holiday season gift card boom needn’t skip small biz; this discrete digital wallet-ready option keeps giving local
Gift cards are convenient — and the No. 1 most-requested present — Nicole Glass said, but there’s frequently just something impersonal and disconnected about them that makes many people feel bad about slipping one into a card or gift box. “It’s like, ‘I didn’t really know what you wanted. Here’s Starbucks,’” said Glass, president of…