Miami, October 12 December 2022 /PRNewswire/ — ClassWallet, the leading digital wallet technology for K-12 education and state agencies, ends its fiscal 2022 with significant growth July 31, 2022Book over $1 billion On the business side, transaction volume increased by 158% and revenue more than doubled.
“Despite economic uncertainty, and lingering challenges from the pandemic and inflation, ClassWallet continues to execute successfully and create value for our customers at federal and state agencies and school districts across the country,” said Jamie Rosenberg, CEO and Founder, ClassWallet. “Our work in supporting the allocation, tracking and reporting of funding and grants to government agencies has grown significantly and continues to illustrate the flexibility of our platform and the potential for new markets and applications.”
Headquartered in Hollywood, Florida Founded in 2014, ClassWallet is fast becoming the de facto standard in the education and state government markets. The company’s digital wallet and spend management technology is now used by 20 state agencies and 6,200 schools in 27 states, serving 4.1 million students to manage classroom supplies and facility maintenance purchases, emergency funding, state and federal grants, and Student Scholarship Program. ClassWallet handles purchasing, reimbursement, expense management and accounts payable automation.
In fiscal 2022, the company recorded more than $1.1 billion In terms of business, year-on-year growth was 59%. The company handles a 158% increase in transaction volume $585 million in payment with $227 million in fiscal 2021. Net income more than doubled from the previous year.
New offices and doubling of staff
Continued business growth has led to an increase in its hiring in fiscal 2022. ClassWallet adds 102 employees to 79 employees in 2021 – a 130% increase in fiscal 2021 Florida and the company’s sales and marketing office in Raleigh, North Carolina It also appoints Cary Scherner, a seasoned educational sales and market development specialist, in the newly created role of Vice President of Government Business Development. ClassWallet also promotes Brian Coble to the VP of Sales.
In response to the growth in human capital, ClassWallet moved its headquarters to a larger office in the same building in the first quarter of 2022. Hollywood, Florida The new facility features private offices, space for the company’s customer success team, expanded meeting rooms, two small spaces, a green room and editing suite for better viewing and editing of support videos, a kitchen and a community lounge.
Fiscal 2022 received from company Magazine. In March, ClassWallet was ranked 33rd on the publication’s list of the fastest-growing private companies in the Southeast. In August, the company earned Inc.’s No. 779. The Fortune 5000 list, the most prestigious ranking of America’s fastest-growing private companies, earned ClassWallet a 916% revenue growth between 2018 and 2021 while growing its workforce from 23 to 84 employees. an approval.In subcategories, the company ranks 74th and 39 companies are located in Florida and Miamiand 56 in the national financial services sector.
For more information on ClassWallet please email at [email protected] Or call 877-969-5536.
ClassWallet was established in 2014 (www.classwallet.com) is the leading digital wallet and automated accounts payable platform for federal, state and territorial education. Used by 27 states and 20 state agencies, ClassWallet reaches 6,200 schools and serves 4.1 million students, saving valuable time and overhead costs of tracking, paying, and reporting decentralized purchases. ClassWallet’s comprehensive marketplace of leading suppliers and learning programs includes top retailers such as Amazon, Office Depot, Staples, Scholastic, School Specialty, Lakeshore Learning, and more.Headquartered in MiamiClassWallet in the prestigious company 2022 Top 5000 List and Top 56 of America’s Fastest Growing Private Companiesth The fastest growing financial services company in the country.
Doug Wright / Liz Savery / Henry Feintucci
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