Fundraiser Blankets Update | Shark Tank Season 17

Barbara Kent and Joanna Serra are sisters and moms who have spent years helping to fundraise for their local schools. With extensive backgrounds in public service and education, they both grew frustrated with the ineffective methods schools used to raise money. To fix this, they set out to create a solution called Fundraiser Blankets, which provides schools with a customizable, profitable option that helps raise funds. Let’s see if this ingenious idea will land a deal in our Fundraiser Blankets update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Fundraiser Blankets after Shark Tank.

Joanna and Barbara entered Shark Tank Season 17 to pitch their school fundraising brand. They sought $300,000 for 10% equity. After their pitch, they landed a deal with Lori Greiner and Barbara Corcoran for $300,000 for 20% equity.

In terms of a Fundraiser Blankets update, the recieved a massive boost in exposure from Shark Tank leading to more partnerships with schools.

Shark	Result
Lori Greiner and Barbara Corcoran	Accepted offer of $300,000 for 20% equity
Kevin O’Leary	$300,000 for 15% equity
Chip Gaines and Joanna Gaines	No offer
Daniel Lubetzky	No offer

Shark Tank Fundraiser Blankets Pitch

• Entrepreneurs: Joanna Serra and Barbara Kent
• Business: Blankets for School Fundraisers
• Ask: $300,000 for 10% equity
• Result: $300,000 for 20% equity
• Sharks: Lori Greiner and Barbara Corcoran

Sisters Joanna and Barbara stepped into the tank with a clear goal to reinvent school fundraising.

Joanna, a former public school teacher, and Barbara, a 15-year Army veteran and military spouse, had both struggled as PTO moms watching parents forced to buy chocolates and wrapping paper they didn’t need.

That frustration led them to create Fundraiser Blankets, a company offering schools and organizations a practical way to raise money through custom-designed, plush polyester blankets.

Their process was simple. A school uploads its logo on the website, receives four digital design options, and can either order in bulk or set up a pre-sale campaign.

Each fundraiser gets a custom webpage where the money goes directly to the school. Barbara said they had already helped over 4,000 schools sell millions of dollars’ worth of blankets.

Their pricing structure allowed schools to buy blankets for between $10.50 and $19.50, depending on size, and resell them for around $25. Production costs ranged from $5.30 to $13.80 per unit.

The founders explained that most of their clients were moms, teachers, coaches, and principals who manage PTO or PTA fundraisers.

During the pitch, the sharks examined the samples and noted the quality and weight of the blankets.

The entrepreneurs then shared their sales numbers and growth figures, which caught everyone’s attention.

Fundraiser Blankets had sold $3 million worth of products in 2023 and reached $8 million in 2024, with a projection of $10 million for 2025.

The company was completely bootstrapped and debt-free, achieving a 49x return on ad spend.

The sisters valued their business at $3 million and were seeking an investment to bring in a mentor who could guide them through responsible scaling.

The sharks were stunned. Kevin O’Leary made the first offer of $300,000 for 20% equity, including participation in future distributions.

Lori Greiner followed with an offer of $300,000 for 15% equity, pledging a portion of her profit toward scholarships for women.

Barbara Corcoran matched Lori’s equity offer and highlighted her mentorship network as an added benefit.

The sisters asked if Lori and Barbara would consider teaming up. Both agreed and jointly offered $300,000 for 20% combined equity.

At this point, Kevin revised his offer to $300,000 for 15% equity, but the founders had their sights set on the Queen of QVC and the Real Estate Queen instead.

Joanna and Barbara accepted the joint offer and left with two partners and a plan to expand their reach nationwide.

Let’s get a Fundraiser Blankets update about what happened after Shark Tank.

Shark Tank Fundraiser Blankets Update

In terms of a Fundraiser Blankets update, it looks like the deal with Barbara and Lori is on track. The official Shark Tank Instagram posted a video of Barbara and Lori talking about how much they loved the business and entrepreneurs.

Since their episode aired, Fundraiser Blankets has seen a significant increase in sales. Further, they now offer an exclusive Shark Tank-inspired blanket bundle priced at $9.50.

With the introduction of new offerings such as rush options for faster delivery and USA-based printing, Fundraiser Blankets continues to prioritize customer satisfaction while growing its presence.

Our Fundraiser Blankets update found that their website highlights a growing number of schools, sports teams, and community groups that use their customizable blankets for fundraising efforts.

With the exposure from Shark Tank, there’s no doubt that Fundraiser Blankets is going to grow like crazy.

We are going to let the dust settle and will circle back for another Fundraiser Blankets update in the near future!

For other company updates from Shark Tank Season 17 Episode 3, check below:

• GoodEgg Update
• Repaint Studios Update
• Pluck Seasonings Update

Before you go, be sure to check out our list of all the Shark Tank Season 17 episodes.