Allovue nets $800K

Allovue has secured $800,000 in seed funding. The investors included Maryland Technology Development Corp., Baltimore Angels, and Shulman Ventures. Based in Baltimore, Allovue is an education resource planning platform for K-12 schools.

PRESS RELEASE

BALTIMORE (February 5th, 2014) – Allovue LLC, a Baltimore-based education technology company, celebrated its first birthday and announced the closing of an $800k seed investment round. Founded by former Baltimore City teacher Jess Gartner, Allovue is a graduate of the 2013 AccelerateBaltimore cohort, an initiative of the Emerging Technology Center and the Abell Foundation. In addition to the initial
$25,000 investment from the accelerator, Allovue’s investors include the Maryland Technology Development Corporation (TEDCO), Baltimore Angels, and Shulman Ventures.
Allovue, an education resource planning and analytics platform for K-12 schools and districts, has grown rapidly in its first year of operation. “Closing this seed round in the first month of the new year marks a critical shift for Allovue,” said CEO Jess Gartner. “We’re transitioning away from a year of intensive research, development, and testing, and into the next growth phase of scaling our products to school districts across the county.” After piloting their school level product in 2013, the startup will use its funding to launch their district level product, with robust enhancements to the
school version, for the 2014 fiscal year.
“There’s a lot of momentum in the Baltimore edtech ecosystem right now,” said Gartner, “and we’re excited that Allovue is part of this emerging economic sector in the region.”
Allovue is an education resource planning platform for K-12 schools and districts that empowers educators at every level to allocate resources to best support the needs of students. Their user-friendly software applications allow district officials, principals, and other school administrators to visualize, analyze, and optimize the impact of spending on outcomes in education. Allovue’s flagship product, Balance: The Education Finance Suite, contains applications to analyze school budgets, track and forecast expenditures, identify trends over time, and plan for future capital investments.

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