Classera, a MENA EdTech platform, has raised $40 million in EdTech Series A funding. This is also the most significant financing round in Edtech, the Middle East, and most of Africa.
The investment was headed by Sanabil Investments, a wholly owned subsidiary of the Public Investment Fund (“PIF”), and was joined by Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture, and Seedra Ventures. The round was also attended by a diverse mix of investors from Silicon Valley, underdeveloped nations, and global family offices.
Classera intends to use the proceeds to extend its Learning Super Platform (“LSP”) for the education and corporate training sectors, as well as to strengthen its position as a global leader in e-learning and EdTech.
Additionally, the investment will be used to seek additional growth in the MENA area and the rest of Africa, as well as to accelerate its global expansion, notably into Asia Pacific (APAC) and elsewhere, through direct sales, channel partners, and acquisitions.
The money will also help Classera expand faster into that large business, which is one of the investment’s main aims, by utilizing its specialized platform for corporate e-training “LeadXera.”
Classera is the Middle East and Sub-Saharan Africa’s largest Edtech company, educating millions of students in 30 countries.
The Company’s LSP is a fully integrated eco-system that 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 specialized educational marketplace for Edtech and educational supplies products “Edumalls.”
All under one roof to simplify the process and increase student engagement, hence improving the entire learning experience.
Over ten Ministries of Education, private K-12 schools, colleges, and corporations are among Classera’s thousands of customers for e-training.
It has formed over 100 strategic alliances with global and regional companies such as Microsoft, Zoom, Amazon, Intel, Udemy, and HP. Last year, the business created a co-branded solution with HP called “HP-ClassEasy by Classera,” which is currently available in numerous countries across the world.
