An Edutech firm, Classera, said it has raised $40m in a Series A funding round to advance its Learning Super Platform and further expand its global expansion into new markets in Africa.
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.
The firm also added that the fund would allow it to also expand into Asia Pacific and elsewhere. It said its expansion plans would be driven by direct sales of its learning solutions, through channel partners, and via acquisitions.
The Strategic Partnerships Director of Classera Inc., Mahmoud 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.”
According to the firm, part of its footprint in Africa involves partnering with TD Africa. It stated that the partnership would see it leverage TD Africa’s growing database, a network of resellers/partners as well as its reach to grow the adoption of e-learning solutions among users across Nigeria and Ghana.
The coordinating Managing Director, TD Africa, Mrs Chioma Chimere, stated, “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.
SOURCE: THE PUNCH
