Silicon Valley-based Classera, a global edtech e-learning company focused on emerging markets, has landed $40 million in a Series A round. This is the largest in the edtech industry globally for a company that has not prior funding and it marks the largest funding round ever in edtech, in MENA and most of Africa.
Who invested in Classera?
The financing round was led by Sanabil Investments, a wholly-owned company by Public Investment Fund (PIF) alongside Global Ventures, Endeavor Catalyst (which invested in Talk360, iPronics and Casavo), 500 Global, Sukna Venture, and Seedra Ventures. Additionally, the round saw participation from a diverse set of investors from Silicon Valley, emerging markets, and global family offices.
Classera will use the investment 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. In addition, the investment will be used 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.
Furthermore, the proceeds of the round will also help Classera via its specialised platform for corporate e-training LeadXera to expand faster into that huge sector, which is on of the primary target post this investment.
Mohammad Almadani, CEO and co-founder of Classera, said: “The funding will help us take our “LSP” to the next level, making it smarter, inspiring and simpler, and for our clients and partners globally. Many learning institutions, especially after the pandemic, are convinced they need the next generation of e-learning solutions. This is where Classera comes in; as we aim to expand our offerings to more global markets and become the partner of choice for education and training institutions covering all of their needs in a turnkey solution and provide its members with a unique learning experience that enables them to reach their full potential.”
Commenting on the announcement, Sanabil Investments said: “Classera has developed and successfully deployed a platform that reaches millions of users and has grown to become one of the leading emerging market e-learning solution providers globally. We are fully committed to enable Classera to further expand its reach to learners across all socio-economic backgrounds.”
Classera was founded in Silicon Valley by the entrepreneur Mohammad Almadani and his partner Mohammad Alashmawi. They started their first company at the age of 18 with a vision to revolutionise e-learning and enable learners in emerging markets to reach their full potential.
Classera is the largest edtech company in MENA and most of sub-Saharan Africa, educating millions of learners in over 30 countries. The cornerstone of Classera’s technology is its LSP, which is powered by a gamified learning management platform built with cutting edge technologies.
AI-based gamified learning management platform
The company’s LSP is a fully integrated eco-system that includes a gamified learning management platform based on A.I and social learning. It also includes an augmented reality learning app C-Reality, a full ERP for educational institutions C-Smarter, an integrated e-payment gateway C-Pay for pocket money, tuition payments and financing, and a specialised educational marketplace for Edtech and educational supplies products Edumalls. All under one umbrella to ease the process and boost learning engagement and thus the overall learning experience.
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