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
‘We are each other’s bootstraps’: Pay-It-Forward cafe says pressure to serve neighbors is back
The reopening of Thelma’s Kitchen — a pay-it-forward restaurant on Troost Avenue — not only flips the menu on the “soup kitchen” concept, but serves as an anchor of compassionate, community-focused care in the face of neighborhood gentrification, said Father Justin Mathews. “We view what we’re doing here as kind of like urban acupressure,” said…
KC-infused Rally Gin pours capital investment into plans for expanding the brand south
A liquor brand distilled from the vision of three Kansas City natives is expanding to Texas after landing national exposure and a key investment meant to elevate minority-owned spirit and beverage companies. Tim McCoy, co-founder of Rally Gin, shared his excitement and the impact of capital investment firm Pronghorn’s backing. “Pronghorn is just awesome. Their…
Union Station tapped for GEWKC base camp; training for treps arrives Nov. 19-21 in KC
When GEWKC pulls into Kansas City this fall, the metro’s largest educational entrepreneurship event will be stationed within one of the community’s crown jewels — a link to the past that points to a brighter future for the regions’ innovators, said Chante Keller. KCSourceLink on Thursday formally announced Union Station as the 2024 base camp…
NXTSTAGE announces trio of KC ventures tapped for latest Enterprise Engagement cohort
A record number of Kansas entrepreneurs joining the NXTSTAGE Enterprise Engagement Series means the program’s latest cohort will scale up its impact, said Amber Dunn. “It’s exciting to witness the relationships formed and the knowledge gained among cohort members and our enterprise partners, both new and returning,” said Dunn, program manager at Wichita-based NXTUS, which…