Allovue builds education finance tools and services to help K-12 school districts and state education departments budget, track spending, and allocate resources. Its flagship product, Balance, is an online platform that integrates with existing accounting systems to enable collaborative staffing and spending plans, view account balances, track expenditures, and connect budgets to performance metrics. The company supports budgeting approaches including zero-based budgeting, weighted-student funding, and priority-based budgeting, and emphasizes real-time collaboration and data quality control. Allovue has helped districts uncover unspent grants and accounting errors, reallocate millions of dollars, and redistribute hundreds of millions to the school level to increase principal autonomy and resource equity. The company serves systems covering over one million K-12 public school students and offers supplemental services such as funding equity analysis, diagnostic surveys, and financial management training. Founded in 2013 and based in Baltimore, Allovue has 25 employees and has raised a total of $13 million to date. Allovue builds budgeting and finance software for school districts, including its Balance product. The company has focused on district budgeting since releasing a dedicated budget module for Balance in 2017. It plans to expand product offerings related to ESSA finance regulations and will use new funding for those product efforts as well as general growth and expansion. Allovue raised bridge financing to capitalize on short-term opportunities and high customer demand driven by the regulatory environment. The company is considering a larger Series B as part of its long-term growth strategy. Allovue provides K-12 public school districts with Balance, a financial analysis platform that consolidates budgets, vendor transactions, general ledger balances and other accounting data into a single dashboard. The platform also enables district leaders to analyze spending alongside non-financial metrics such as attendance, student achievement and demographics. Clients named in the article include New Haven Public Schools, Indianapolis Public Schools, Pueblo District 70 and Santa Ana Unified School District. The company recently partnered with Pivot Learning Partners as part of the Bill and Melinda Gates Foundation’s Smarter School Spending initiative to assist districts with LCFF and LCAP allocations. Led by CEO Jess Gartner, Allovue intends to use the new funds to expand its customer success and leadership teams and accelerate product development. The company reported having 10 employees and plans to add 35 people in 2016 while expanding nationally with new offices in Denver and the Bay Area. Allovue builds Balance, a software product that connects with K-12 school financial systems to allow administrators and other school employees to track financial information daily. The platform surfaces finances alongside education performance indicators such as test scores and attendance, enabling decision-making that weighs spending against outcomes. Balance is being piloted in Baltimore city schools and New Haven Public Schools. Allovue is rolling out a diagnostic and training program to help principals manage their own budgets. The company says it will use new funding to expand its reach and add additional features to the platform. CEO and founder Jess Gartner framed the work as giving school leaders the tools and training to make better spending decisions for students. Allovue builds education resource planning and analytics software that lets district officials, principals and school administrators visualize, analyze and optimize the impact of spending on educational outcomes. Its 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. The company is led by CEO and founder Jess Gartner. Allovue closed an $800k seed funding to support product development. The funds are intended to launch a district-level product and to enhance the school version in 2014. The company graduated from the 2013 AccelerateBaltimore cohort run by the Emerging Technology Center and the Abell Foundation.

Total raised

$13M

Funding rounds

5

Latest round

Series A

Latest activity

Feb 2019