ClassBank

ClassBank provides a digital platform for K-12 schools designed to teach students financial literacy and foster positive behavior through a classroom economy. It was founded in 2021 by former middle school teachers Abby Cole and Katie Gracey, who experienced a lack of engaging resources for teaching real-life skills in underserved communities. They created a tool that merges financial education with classroom management.

The platform allows teachers to create a customized classroom economy where students can open a digital bank account, apply for jobs, earn virtual salaries, pay bills like desk rent, and manage their money by saving or spending it in a teacher-managed store. This system is designed to teach concepts like budgeting, money management, and delayed gratification in a practical way. The platform also supports Positive Behavioral Interventions and Supports (PBIS) frameworks by allowing teachers to award monetary bonuses for positive actions, which can help improve student engagement and reduce behavioral issues.

ClassBank operates on a freemium model. A basic version with core features is available for free to individual teachers. The company generates revenue through premium subscriptions for teachers ('Pro Teacher') and custom plans for entire schools and districts, which offer advanced features like co-teacher access, student "banker" roles, and school-wide implementation to ensure consistency and track data. The company secured $1 million in pre-seed and grant funding in September 2024 to expand its marketing and sales efforts, aiming to increase its impact in underserved communities.

Keywords: financial literacy education, edtech, classroom management, digital currency, school economy, student engagement, K-12 education, positive behavior support, PBIS, experiential learning, classroom rewards, student bank accounts, budgeting for students, Abby Cole, Katie Gracey, behavior management, SaaS, educational software, financial skills