EdTech startup Classera raises $40M Series A for the largest education platform in the Middle East and North Africa
Classera, the largest EdTech in the Middle East and North Africa(MENA), has raised $40 million in series A funding led by Sanabil Investments, wholly owned company by Public Investment Fund (“PIF”), with participation from Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture, and Seedra Ventures.
Classera will use the new capital infusion to continue to build out 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.
The startup will also use the funding proceeds to accelerate further growth in the MENA region, and to fuel its global expansion, including in Asia Pacific, via direct sales, channel partners, and acquisitions, it said. Other backers in this round include a diverse set of investors from Silicon Valley, emerging markets, and global family offices.
The proceeds will also help Classera – via its specialized platform for corporate e-training “LeadXera”- to expand faster into that huge sector – which is one of the primary target post this investment.
The San Francisco-based Classera was founded by the CEO Mohammad Almadani and his partner Mohammad Alashmawi – who both 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 greatest impact.
Classera is currently the largest Edtech company in MENA and most of sub-Saharan Africa, educating millions of learners in over 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 “C-Reality”, a full ERP for educational institutions “C-Smarter”, an integrated e-payment gateway ”C-Pay” for pocket money, tuitions payments and financing, and a specialized 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.
Commenting on the funding, Almadani said: “Today is a milestone in the Classera journey. I am honored to receive the backing of such an esteemed group of global investors and immensely proud of our team whose passion has always been to revolutionize the learning experience. Together, we scaled Classera from limited resources to become a leading global EdTech platform. I am glad that we impacted and empowered the learning journey of millions, I hope our evolving story will serve as an inspiration to others, and we are optimistic that the best is yet to come.”
Almadani added: “Many learning institutions, especially after the pandemic, are convinced they need the next generation of e-learning solutions.”
Sanabil said in the same statement it was “fully committed to enable Classera to further expand its reach to learners across all socio-economic backgrounds.”
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. Last year, the company launched a co-branded solution alongside HP, under the name “HP-ClassEasy by Classera” which is now offered in several countries globally.