One of Technical.ly DC’s realLIST 2019 honorees is merging with another company after about a year in business.
Equiday, a Rockville, Md.-based edtech startup that created a SaaS solution to help district finance leaders model student-driven funding formulas, has been acquired by Baltimore, Md.-based edfintech startup Allovue. Terms of the deal were not disclosed.
Did you hear the news? Allovue and Equiday are joining forces in a singular mission to help districts spend money on the things that really matter. Read more about our exciting news here https://t.co/Cw8aJTI8oE and welcome again, Equiday!
— Allovue (@AllovueBalance) March 18, 2019
Equiday’s funding formula technology will be added to Allovue’s suite of budgeting and management tools for K-12 education administrators. Allovue recently raised a $4 million Series A-2 round and identified expansion of budgeting tools as an area of focus, our sister site Technical.ly Baltimore reported.
“Allovue and Equiday share a belief in the power of combining cutting-edge financial technology with education data,” Allovue founder and CEO Jess Gartner said in a statement. “The acquisition of Equiday is a natural extension of Allovue’s growth strategy — rooted in our commitment to helping districts improve resource equity and realize strategic priorities for students.”
Equiday was founded in 2018 by Justin Dayhoff to provide K-12 school district business offices with software and support that makes resource allocation less burdensome and more equitable, a press release states. The company’s flagship product is its SaaS solution called AllocatePro, a financial modeling tool for K-12 education administrators.
“Allovue is a natural home for Equiday. Together, we can improve the district budgeting process in its entirety — from strategic planning at district offices to transparent resource management at the school-level” Dayhoff said in a statement. “This will offer an unparalleled opportunity for districts to align budgets to strategic goals that best serve students.”
Dayoff and Equiday’s CMO Megan Rainbow will join the Allovue team.
WhyHotel is bringing a pop-up location to Maryland’s Merriweather District
Ordway plans to double its team this year after securing $10M in Series A funding
Mobile advertising platform company Mobile Posse is set to be acquired for $66M
M&A Moves: Fintech company Goodworld has acquired Cheerful Giving
Sign-up for daily news updates from Technical.ly Dc