Grace Ashiru
Classera, a global edutech e-learning company that focuses on emerging markets, has successfully closed a $40 million Series A round of funding, making it the largest funding round in EdTech history for a company with no previous funding.
This is also the largest funding round in Edtech, MENA, and most of Africa.
Classera will use the money to continue developing its Learning Super Platform (“LSP”) for the education and corporate training sectors and to solidify its position as a global leader in e-learning and EdTech.
Sanabil Investments, a company owned by Public Investment Fund (“PIF”), led the round. 500 Global Global Ventures, Sukna Venture, Endeavor Catalyst, and Seedra Ventures also participated. Various investors from Silicon Valley, emerging markets, and global family offices also participated in the round.
In addition to funding Classera’s new product, the investment will target more growth in the Middle East, North Africa (MENA), and the rest of Africa. Through direct sales, channel partners, and acquisitions, it will also speed up Classera’s global expansion, especially in Asia Pacific (APAC) and other places. The money will also help Classera grow faster in the huge corporate e-training market through its “LeadXera” platform, which is one of the main goals after this investment.
Classera is the biggest EdTech company in the Middle East, North Africa, and most sub-Saharan Africa. It educates millions of students in more than 30 countries. The Company’s LSP is a fully integrated eco-system that includes a gamified learning management platform based on A.I. and social learning, an augmented reality learning app called “C-Reality,” a full ERP for educational institutions called “C-Smarter,” an integrated e-payment gateway called “C-Pay” for pocket money, tuition payments, and financing, and a specialized educational marketplace called “Edumalls” for Edtech and educational supplies products. All under one roof to simplify the process and increase learning engagement, thereby improving the overall learning experience.
Over ten Ministries of Education, private K-12 schools, universities, and corporations are among Classera’s thousands of customers for e-training. It has formed over 100 strategic partnerships with global and regional companies like Microsoft, Zoom, Amazon, Intel, Udemy, and H.P. Last year; the company launched a solution with H.P. called “HP-ClassEasy by Classera.” It is now available in several countries around the world. Last year, the company launched a solution with H.P. called “HP-ClassEasy by Classera.” This solution is now available in several countries around the world.
Mohammad Almadani, the CEO of Classera and one of its co-founders, said: Today is a big step in the journey of Classera. I’m honoured to have the support of such a respected group of investors from around the world, and I’m very proud of our team, whose goal has always been to change how people learn.
Together, we grew Classera from a small company with few resources to a global leader in EdTech. I’m glad that we helped and inspired millions of people to learn, and I hope that our story will serve as an example to others. We presume that the best is still to come.”
The funding will enable us to take our ‘LSP’ to the next level, making it smarter, more inspiring, and easier to use for our clients and partners worldwide. After the pandemic, many learning institutions are sure they need the next generation of e-learning solutions. This is where Classera comes in. We want to expand our services to more global markets and become the partner of choice for education and training institutions by meeting all of their needs with a “turnkey” solution and giving its members a unique learning experience that helps them reach their full potential.
Commenting on the news, Sanabil Investments said that Classera has built and successfully launched a platform that millions of people use. It has become one of the world’s leading e-learning solutions providers for emerging markets. We are fully committed to making it possible for Classera to reach more students from all walks of life.
Classera had one of the highest engagement rates in the global e-learning industry in the last academic year. During the journey, the company’s gamified platform helped it get close to 70% of the market in several regional markets. This led to a lot of engagement, which led to more than 10 billion page views. Classera ere has also won several global EdTech awards, such as GESS, The Learning Award, Bett, Microsoft Best Global Partner Award, and more.
