Bonsal Capital

Bonsal Capital is a family private equity firm based in Baltimore, Maryland, founded in 1999 by Frank A. Bonsal, Jr., a co-founder of New Enterprise Associates. The firm focuses on mission-driven investments primarily in the Capital Region, targeting technology-enabled services in education and workforce development, as well as the information technology and life sciences industries.

Frank A. Bonsal

Founding Partner

Frank Bonsal III

Managing Partner

Past deals in Maryland

Allovue

Series A in 2015
Allovue, Inc. is a Baltimore-based company that specializes in financial software solutions for K-12 education departments and school districts across the United States. Its flagship product, Balance, integrates with existing accounting and data systems to assist educators in budgeting, managing, and evaluating expenditures. The platform offers tools for analyzing school budgets, tracking expenses, forecasting future spending, and planning for capital investments, enabling district officials and school administrators to visualize and optimize the impact of their financial decisions on educational outcomes. Allovue also provides supplemental services such as funding equity analysis and financial management training, catering to superintendents, CFOs, budget directors, and other stakeholders within the education sector. Originally founded as Allovue, LLC in 2013, the company rebranded in 2014 to reflect its mission of connecting finance and education to support strategic resource allocation.

Terbium Labs

Seed Round in 2015
Terbium Labs, Inc., founded in 2013 and based in Baltimore, Maryland, specializes in data intelligence solutions for information security. The company offers Matchlight, a comprehensive and fully private dark web monitoring system designed to detect stolen data and mitigate the impact of data breaches. This automated platform monitors for leaks of sensitive information, providing organizations with real-time alerts when their data appears in unauthorized locations on the internet or dark web. By enabling proactive risk management, Terbium Labs helps organizations safeguard their high-value data against theft and misuse.

Sickweather

Seed Round in 2015
Sickweather Inc. is a company that specializes in sickness forecasting and mapping through its innovative mobile application. Founded in 2011 and headquartered in Windsor Mill, Maryland, Sickweather utilizes patented social listening technology to scan social networks for indicators of illness, allowing users to receive real-time alerts and check the likelihood of sickness in their area. The platform operates in over 120 countries and provides users with 15-week forecasts and a threat level index known as the SickScore. By crowdsourcing data about illness trends, Sickweather aims to deliver precise and meaningful insights, making it easier for individuals to understand public health risks, similar to checking weather forecasts.

Allovue

Seed Round in 2014
Allovue, Inc. is a Baltimore-based company that specializes in financial software solutions for K-12 education departments and school districts across the United States. Its flagship product, Balance, integrates with existing accounting and data systems to assist educators in budgeting, managing, and evaluating expenditures. The platform offers tools for analyzing school budgets, tracking expenses, forecasting future spending, and planning for capital investments, enabling district officials and school administrators to visualize and optimize the impact of their financial decisions on educational outcomes. Allovue also provides supplemental services such as funding equity analysis and financial management training, catering to superintendents, CFOs, budget directors, and other stakeholders within the education sector. Originally founded as Allovue, LLC in 2013, the company rebranded in 2014 to reflect its mission of connecting finance and education to support strategic resource allocation.

Calvert Learning

Series A in 2013
Calvert Learning offers a comprehensive homeschool curriculum that combines traditional textbooks with online learning, serving English-speaking students from pre-kindergarten to eighth grade worldwide. The curriculum covers a wide range of subjects, including history, mathematics, science, literature, and foreign languages, as well as various enrichment programs in arts, music, and writing. Founded in 1906 and based in Hunt Valley, Maryland, Calvert Learning has a long history of providing educational resources for nontraditional learning environments. The company operates as a subsidiary of Edmentum, Inc. and focuses on delivering high-quality educational experiences through a flexible, modular approach tailored to the needs of schools and districts. Additionally, Calvert Learning provides advisory teaching and technical support services to enhance learning outcomes for students.

Curiosityville

Seed Round in 2011
Curiosityville LLC, founded in 2010 and located in Cockeysville, Maryland, operates an interactive educational website designed for children aged 3 to 8 years. The platform offers a variety of animated video games and engaging activities that focus on mathematics and other subjects, providing a playful learning environment for young learners. Through its innovative approach, Curiosityville aims to enhance early childhood education by making learning both enjoyable and accessible.

Spectrum K12 School Solutions

Series A in 2001
Spectrum K12 School Solutions, Inc. specializes in software and services for special education programs within K-12 schools in the United States. Founded in 1996 and based in Towson, Maryland, the company offers Encore, a web-based data management system designed to facilitate the individualized learning process for students receiving special services. This includes support for special education, 504 plans, limited English proficiency (LEP/ESL), and pre-referral response to intervention (RTI) programs. Spectrum K12 School Solutions aims to enhance educational outcomes for students with diverse needs through its tailored software solutions.
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