-CLASSERA CLOSES ONE OF THE LARGEST EDTECH A SERIES IN THE WORLD, A 40 MILLION DOLLAR ROUND LEADED BY SANABIL
SAN FRANCISCO, Oct. 27, 2022 /PRNewswire/ -- Classera, a global edutech e-learning company focused on emerging markets, has raised $40 million in a Series A round, the largest in EdTech globally for a company without prior financing. The round also marks the largest funding round ever in EdTech, in MENA and most of Africa.
The round was led by Sanabil Investments, a company owned by the Public Investment Fund ("PIF"), joined by Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture and Seedra Ventures. The round also included a diverse set of investors from Silicon Valley, emerging markets and global family offices.
Proceeds will be used by Classera to further develop its Learning Super Platform ("LSP") for the education and corporate training sectors, and consolidate its position as a world leader in e-learning and EdTech. Additionally, the investment will be used to target further growth in MENA, the rest of Africa, and to accelerate its global expansion, especially in Asia Pacific (APAC) and elsewhere, through direct sales, channel partners and acquisitions. The proceeds will also help Classera - through its specialized platform for corporate e-training "LeadXera" - to expand more rapidly in this huge sector, which is one of the main objectives behind this investment.
Classera is the largest educational technology company in the Middle East and North Africa and most of sub-Saharan Africa, educating millions of students in more than 30 countries. The company's LSP is a fully integrated ecosystem that includes a gamified learning management platform based on Artificial Intelligence and social learning, an augmented reality learning application "C-Reality", a complete ERP for educational institutions "C -Smarter", an integrated electronic payment gateway "C-Pay" for pocket money, tuition payments and financing, and a specialized educational marketplace for Edtech products and educational supplies "Edumalls". All this under the same umbrella to facilitate the process and enhance commitment to learning and, therefore, the educational experience in general.
Among the thousands of Classera clients are more than 10 Ministries of Education, private primary and secondary schools, universities and e-training companies. It has developed more than 100 strategic partnerships with global and regional players such as Microsoft, Zoom, Amazon, Intel, Udemy, and HP. Last year, the company launched a co-branded solution with HP, under the name "HP-ClassEasy by Classera", which is now offered in several countries around the world.
Mohammad Almadani, CEO and co-founder of Classera, said:
"Today marks a milestone in Classera's journey. I am honored to be endorsed by such an esteemed group of global investors, and I am immensely proud of our team, whose passion has always been to revolutionize the learning experience. Together, we have grown Classera from limited resources to a leading global EdTech platform I am glad we have impacted and empowered the learning journey of millions of people, I hope our evolving story inspires others, and we are optimistic that the best is yet to come."
"The funding will help us take our 'LSP' to the next level, making it smarter, more inspiring and easier for our customers and partners globally. Many teaching institutions, especially after the pandemic, are convinced that they need the next generation e-learning solutions This is where Classera comes in as we aim to expand our offering to more global markets and become the partner of choice for education and training institutions, covering all their needs in one turnkey solution. hand in hand and providing its members with a unique learning experience that allows them to reach their full potential."
Commenting on the announcement, Sanabil Investments said:
"Classera has successfully developed and deployed a platform that reaches millions of users and has grown to become one of the world's leading providers of e-learning solutions for emerging markets. We are fully committed to enabling Classera to further expand its reach students from all socioeconomic backgrounds.
Classera achieved one of the highest engagement metrics in the e-learning industry globally in the last academic year. Along the way, the engaging gamified platform enabled the company to secure close to 70% market share in various markets in the region, generating high engagement, leading to over 10 billion page views. Throughout its history, Classera has also received several global awards in the Edtech industry, including Bett, The Learning Award, GESS, Microsoft's Best Global Partner award and many more.
Acerca de Classera
Classera was founded in Silicon Valley by entrepreneur Mohammad Almadani and his partner Mohammad Alashmawi - both of whom started their first company at the age of 18 - with a vision to revolutionize e-learning and enable learners in emerging markets to reach their full potential. They started by focusing on MENA and Africa to make the biggest impact. The cornerstone of Classera's technology is its LSP, which is powered by a gamified learning management platform built with cutting-edge technologies. Its principle-based approach revolves around: inspiration through gamification, personalization through artificial intelligence, and collaboration through social learning - with the ultimate goal of achieving better engagement and therefore better engagement. better learning experience. Then, to complete the ecosystem, the ERP, the payment gateway and the marketplace come into action to make the LSP a complete turnkey solution.
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About Sanabil Investments
Sanabil is a financial investment company, wholly owned by the Public Investment Fund (FPI), with a paid-up share capital of 8,000 million dollars. We commit more than $2 billion of capital a year in global private investments including venture/growth capital. We are a team of dynamic, agile and highly experienced investment professionals. We provide partners with patient capital, the ability to invest in multiple funding rounds, and access to the region. At Sanabil, we invest in great ideas, great minds, and great companies.
For more information, visit www.sanabil.com
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