Classera, a San Francisco-based global EdTech e-learning company focused on emerging markets, has raised $40 million in its Series A round led by the Public Investment Fund (PIF)-owned Sanabil Investments, a Saudi-based investment giant, accompanied by Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture, and Seedra Ventures. The funding round was also backed by other investors including Silicon Valley, emerging markets, and global family offices.
With the new fundraising, the company plans to continue developing its Learning Super Platform (“LSP”) for the education and corporate training sectors, and cement its position as a global leader in e-learning and EdTech. It also plans to target more growth in MENA, the rest of Africa, and to accelerate its global expansion especially into Asia Pacific (APAC) and elsewhere, via direct sales, channel partners, and acquisitions. The proceeds will also help Classera – via its specialized platform for corporate e-training “LeadXera”- to expand into the corporate sector.
Co-founded by Mohammad Almadani and Mohammad Alashmawi, Classera is the largest EdTech company in MENA and most of sub-Saharan Africa, educating millions of learners in more than 30 countries. The platform’s LSP is a fully integrated eco-system that includes a gamified learning management platform based on AI and social learning, an augmented reality learning app known as C-Reality, a full ERP for educational institutions – C-Smarter, an integrated e-payment gateway – C-Pay – for pocket money, tuitions payments and financing, as well as a specialized educational marketplace for EdTech and educational supplies products tagged Edumalls. These platforms are housed under one umbrella to ease the process and boost learning engagement and thus the overall learning experience.
In addition, the startup delivered one of the highest engagement metrics in the e-learning industry globally in the last academic year. Classera’s thousands of customers include over 10 Ministries of Education, private K-12 schools, universities, and corporates for e-training. It has developed over 100 strategic partnerships with global and regional players including Microsoft, Zoom, Amazon, Intel, Udemy, and HP.
Commenting on the investment, Coordinating Managing Director of TD Africa, Chioma Chimere, said:
We are delighted to be associated with Classera, particularly in the light of this landmark fund raise and in view of the massive potential in boosting e-learning for a variety of key users across Nigeria and Ghana. Leveraging our army of resellers in these markets, we are confident that this strategic partnership will go a long way in expanding access to the suite of cutting-edge solutions from Classera for millions of new users.
As part of its growing footprints in Africa, Classera recently partnered with TD Africa, Sub-Saharan Africa’s leading distributor of tech, services, and lifestyle products. The partnership will see its leverage TD Africa’s growing database, network of resellers/partners as well as its considerable reach to grow the adoption of its bouquet of e-learning solutions among millions of users across Nigeria and Ghana. Specifically, through TD Africa, the firm will gain access to and introduce a range of smart learning tools to clients in the education sector, including schools at every level. Also, in line to benefit are large corporate organizations, as well as Small and Medium Enterprises (SMEs) desirous of adopting a digital learning platform to provide training for their employees. Consequently, its strategic partnership with TD Africa, arguably the biggest distributor of Microsoft’s products and services in Nigeria and beyond, will undoubtedly aid Classera to gain significant footholds across a wide range of target audiences in Nigeria and Ghana.
Mahmoud El Gabry, Strategic Partnerships Director of Classera Inc, added:
As we just completed one of the largest funding rounds a company with no prior funding had done in the EdTech industry, we are determined to extend our worldwide presence focusing on Africa to accomplish our vision. Today, I am very excited about our new partnership with TD Africa to empower the learning journey of our clients in Nigeria and Ghana benefiting from the innovation brought by Classera and its globally recognized and awarded learning solutions spearheaded by its state of art Learning Super Platform (LSP).
The company had earlier launched a co-branded solution alongside HP under the name “HP-ClassEasy by Classera” which is now offered in several countries globally, with an eye on accelerating its growing adoption in Africa as well. The solution is an Education Super App for K12 and Higher Education that leverages AI, gamification and social learning to bring new levels of learner engagement to life, break through the challenges of increasingly difficult online student engagement and go beyond ordinary learning management systems.