Funderbolt acquired by CampusLogic

CampusLogic has acquired Funderbolt (formerly USEED), the Delaware education fundraising software, the company announced Monday.

Based in Phoenix, CampusLogic is an integrated student financial management software company with a goal to improve financial barriers in student access. With the Funderbolt software, which the company is rebranding as SponsoredScholar, students can use the crowdfunding platform to help fund tuition costs, and colleges can use it to raise funds for scholarship programs.

Over the last few years, Funderbolt/USEED has partnered in fundraising projects for schools such as St. Elizabeth’s and Charter School of Wilmington, and nonprofits such as Wilmington Green Box.

“Most of the [Funderbolt] team moved out to Arizona several years ago,” said John Moore, chairman of the former Finderbolt/USEED, in an interview with Technical.ly. “Edtech companies like CampusLogic are able to thrive there.”

“Unfortunately,” said Moore, “while we hosted the world’s first student crowdfunding campaign on the University of Delaware and our cofounders created the precursor of the Horn Center of Entrepreneurship, we weren’t able to find any sponsors among the Delaware higher education bureaucracy.”

With the acquisition, Funderbolt will no longer have a presence in Delaware.