A digital educational company, Classera Inc. has disclosed that it raised $40m for its global expansion in its Series A funding round.
The edutech firm expressed readiness to enlarge its e-learning platform scope to further penetrate into more African nations.
Investors King learnt that Classera engages the world’s latest technology to bring about a positive transformation in the educational system. It encourages the use of digital communication systems instead of the traditional learning methods at all levels of education.
A statement by the company explained that the Series A funding round was embarked on by the Public Investment Fund-owned Sanabil Investments, in collaboration with Global Ventures, Seedra Venture, Endeavor Catalyst, Sukna Venture and 500 Global Company.
Classera averred that the fund gathered would be used to expand into Asia Pacific and other parts of the world, selling more educational solutions and partnering with other organisations.
The company said in a release that the round was led by the Public Investment Fund-owned Sanabil Investments, accompanied by Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture, and Seedra Ventures.
According to the Strategic Partnerships Director of Classera Inc., Mahmoud Gabry, the firm has its focus on Africa in its scope expansion.
He expressed excitement with the company’s new partnership with TD Africa which has a rich database and records on e-learning solutions in Nigeria and Ghana.
Gabry said, “As we just completed one of the largest funding rounds a company with no prior funding had done in the EdTech industry, we are determined to extend our worldwide presence focusing on Africa to accomplish our vision.
“Today, I am very excited about our new partnership with TD Africa to empower the learning journey of our clients in Nigeria and Ghana benefiting from the innovation brought by Classera and its globally recognized and awarded learning solutions spearheaded by its state of art Learning Super Platform.”