San Francisco-based edutech e-learning company has raised $40m in Series A funding as it seeks to expand into emerging markets.
The funding round was led by Sanabil Investments, with other investors such as 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.
According to Classera, it intends to use the recent funds raised to target more growth in the Middle East and North Africa region (MENA), and other parts of Africa, and also to accelerate its global expansion, especially into Asia Pacific (APAC) via direct sales, channel partners, and acquisitions.
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The proceeds will also aid the company via its specialized platform for corporate e-training “LeadXera” to expand into the corporate sector.
Classera also intends to use the proceeds 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.
Speaking on the recent funds raised, CEO and co-founder of Classera Mohammad 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.
“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.
“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.”
Founded in 2011 by Mohammad Alashmawi and Mohammad Almadani, Classera offers an ecosystem that includes a gamified learning management platform based on AI and social learning, as well as payment solutions for these courses. Classera delivered one of the highest engagement metrics in the e-learning industry globally in the last academic year.