MINNEAPOLIS, June 30, 2017 /PRNewswire/ -- Kaleidoscope Group, an edtech public benefit corporation, today announced an investment deal with GoKart Labs, LLC, a digital innovation lab that uses collaboration and human centered design to further disrupt ideas in education, healthcare and financial services. GoKart Labs' investment contributes to Kaleidoscope's total capital raise of more than $650,000 to support the launch of a new cloud-based scholarship management platform.
"We are proud GoKart Labs has chosen to partner with Kaleidoscope. GoKart's experience inventing, making and launching innovative products and companies in edtech is a winning combination for us," said Greg Dehn, Founder and CEO at Kaleidoscope. "With GoKart, we will create an experience scholarship funders and students love, accelerating our growth and boosting the impact of every single one of the billions of scholarship dollars granted each year."
A divergence in real wage growth and tuition costs is intensifying burdens on families and widening the workforce skills gap. Kaleidoscope applauds efforts by the private sector to support students with scholarship, tuition reimbursement and student loan repayment programs. By significantly reducing scholarship program administrative costs, Kaleidoscope ultimately aims to help return over $1B to students in the next 5 years.
"Incubating ideas and inventing business is baked into GoKart's DNA. We are eager to share our experience and expertise with the team at Kaleidoscope," said Scott Jagodzinski, GoKart Ventures team lead and co-founder of Alchemy365. "Kaleidoscope’s innovative platform and mission to bring modern, enterprise technology to scholarships will radically transform how education is funded."
Kaleidoscope Group (www.mykaleidoscope.com) is a public benefit company that helps visionary organizations and advocates fund the next generation of leaders, artists, entrepreneurs, coaches, doctors and others on journeys to change the world. Kaleidoscope's software platform supports each funder's unique scholarship program design, creating access through low administrative cost and student choice through innovative and impactful program design solutions.
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SOURCE Kaleidoscope Group