Classera secures $40m Funding, Set to expand across Africa
January 30, 2023156 views0 comments
By Chisom Nwatu
Global EduTech learning management platform, Classera has successfully raised $40 million in a Series ‘A’ round, the largest in EdTech globally for a company with no prior funding, to further deepen its footprint and expand across Africa.
The Series ‘A’ round, which represents the largest funding round ever in Edtech in the Middle East and North Africa (MENA) region and most of Africa, is expected to advance Classera’s Learning Super Platform (LSP), affirm its position of leadership in e-learning and EdTech, in addition to further deepening its global expansion into new markets, especially in Africa.
The round was 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.Also involved in the round were other investors from Silicon Valley, emerging markets, and global family offices.
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The investment will see Classera accelerate on its global trajectory and target more growth in MENA, the rest of Africa, and to fast-track its expansion, especially into Asia Pacific (APAC) and elsewhere.
‘‘We are delighted to be associated with Classera, particularly in the light of this landmark fundraise and in view of the massive potential in boosting e-learning for a variety of key users across Nigeria and Ghana, said Chioma Chimere, Coordinating Managing Director, TD Africa, while expressing her excitement on the development.
“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,” she further added.
However these strategic expansionary plans will be driven by direct sales of its cutting-edge learning solutions, through channel partners, and via acquisitions.
Similarly, proceeds of the investment will also help Classera – via its specialised platform for corporate e-training – LeadXera – to expand faster into that huge sector – which is one of the primary targets of the investment.