Guidepost Growth Equity led the raise which included Education Growth Partners (EGP) and Lazard Family Office Partners. The investment builds on ClassWallet's rapid growth and supports its continued efforts to reshape the way government agencies do business.

Founded in 2014, ClassWallet is the leading purchasing and reimbursement platform for public funds. The company's patented digital wallet technology ensures that public funds reach the correct recipients and are used for the intended purpose - at a fraction of the time and cost of existing technology solutions with full compliance safeguards. ClassWallet is used by state government agencies and school districts across 32 states, helping those clients realize the full potential of over $2.7 billion in public funds. Its integrated marketplace of top retailers and service providers includes Amazon, Best Buy, Home Depot, Michaels, Office Depot, Scholastic, Staples, Varsity Tutors and more.