PR98514

SAN FRANCISCO, Oct. 27, 2022 / PRNewswire=KYODO JBN/ --

- Established in Silicon Valley with an Emerging Markets Focus, Classera is the

largest Edtech company in MENA and most of sub-Saharan Africa, educating

millions in more than 30 countries.

- Investment round led by Sanabil Investments, wholly-owned company by Public

Investment Fund (PIF), and joined by Global Ventures, Endeavour Catalyst, 500

Global, as well as investors from Silicon Valley, emerging market, and global

family offices.

- The investment will advance Classera's Learning Super Platform "LSP", cement

its position as a global leader in e-learning and accelerate its global

expansion into new markets.

Classera, a global edutech e-learning company focused on emerging markets, has

successfully raised $40 million in a Series A round, the largest in EdTech

globally for a company with no prior funding. The round also mark's the largest

funding round ever in Edtech, in MENA and most of Africa.

Classera founders: Mohammad Almadani and Mohammad Alashmawi

The round was led by Sanabil Investments, wholly owned company by Public

Investment Fund ("PIF"), accompanied by 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, the rest of Africa, and

to accelerate its global expansion especially into Asia Pacific (APAC) and

elsewhere, via direct sales, channel partners, and acquisitions. The proceeds

will also help Classera - via its specialized platform for corporate e-training

"LeadXera"- to expand faster into that huge sector - which is on 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". All under one umbrella to ease the process and boost

learning engagement and thus the overall learning experience.

Classera's thousands of customers include over 10 Ministries of Education,

private K-12 schools, universities, and corporates for e-training. It has

developed over 100 strategic partnerships with global and regional players

including Microsoft, Zoom, Amazon, Intel, Udemy, and HP. Last year, the company

launched a co-branded solution alongside HP, under the name "HP-ClassEasy by

Classera" which is now offered in several countries globally.

Mohammad Almadani, CEO and co-founder of Classera, 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 revolutionise 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 provide its members with a unique learning experience that

enables them to reach their full potential."

Commenting on the announcement, Sanabil Investments said:

"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. We are fully committed to enable

Classera to further expand its reach to learners across all socio-economic

backgrounds."

Classera delivered one of the highest engagement metrics in the e-learning

industry globally in the last academic year. In the journey, the engaging

gamified platform enabled the company to secure close to 70% market share in

several markets in the region, generating high engagement – leading to over 10

billion page-views. Along its path, Classera has also received several global

awards in the Edtech industry including Bett, The Learning Award, GESS,

Microsoft best global partner award and many more.

About Classera

Classera was founded in Silicon Valley by the entrepreneur Mohammad Almadani

and his partner Mohammad Alashmawi - who both started their first company at

the age of 18 - with a vision to revolutionize e-learning and enable learners

in emerging markets to reach their full potential. They started by focusing on

MENA and Africa to make the greatest impact. The cornerstone of Classera's

technology is its LSP which is powered by a gamified learning management

platform built with cutting edge technologies. Its principle-based approach is

cornerstoned around: inspiration through gamification, personalization through

artificial intelligence, and collaboration through social learning - with the

ultimate goal of reaching better engagement and therefore a better learning

experience. Then to complete the ecosystem the ERP, the payment gateway and the

marketplace comes in place all to make the LSP as a full turnkey solution.

For more info@classera.com

About Sanabil Investments

Sanabil is a financial investment company, wholly owned by the Public

Investment Fund (PIF), with USD 8 billion in paid-up share capital. We commit

more than USD 2 billion in capital per annum into global private investments

that include VC/growth. We are a dynamic, nimble, and highly experienced team

of investment professionals. We provide partners with patient capital, the

ability to invest across multiple funding rounds, and access to the region. At

Sanabil, we invest in great ideas, great minds, and great companies.

For more information, please visit www.sanabil.com

Photo - https://mma.prnewswire.com/media/1931323/Classera_founders.jpg

SOURCE: Classera