EGYPT – Sanabil Investments, a wholly owned company by Public Investment Fund, has led a US$40 million Series A investment round in Classera, a global EdTech e-learning company focused on emerging markets.
“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,” Sanabil Investments said.
“We are fully committed to enabling Classera to further expand its reach to learners across all socio-economic backgrounds.”
Other investors in the round included Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture, and Seedra Ventures.
The round additionally included a diverse set of investors from Silicon Valley, emerging markets, and global family offices.
Proceeds will be used by Classera 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, and the rest of Africa, and to accelerate its global expansion into Asia Pacific.
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.
Classera is 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”.
“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,” Mohammad Almadani, CEO and co-founder of Classera, said.
“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 providing its members with a unique learning experience that enables them to reach their full potential.”