In a significant development for Nigeria’s burgeoning ed-tech sector, Klas, a prominent startup in the field, has secured $1 million in pre-seed funding.
Led by Ingressive Capital, the funding round also saw participation from Techstars, HoaQ Capital, and several angel investors, marking a milestone in Klas’s journey to expand its online teaching platform globally.
Founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas offers a versatile platform that allows users to create and sell ebooks, courses, and live classes.
Its comprehensive suite of features includes scheduling, payments, community engagement tools, analytics, and video conferencing, catering to a wide range of subjects from coding and design to finance, art, and languages.
Amidst a competitive landscape that includes other notable players like ULesson, Edukoya, Utiva, and Alt School, Klas has distinguished itself through its innovative approach and user-friendly platform. The startup’s previous angel round of $180,000 in 2021 facilitated the platform’s launch and entry into the prestigious Techstars Accelerator program.
Commenting on the latest funding round, Sunil Sharma, Managing Director of Techstars Toronto, expressed confidence in Klas, citing the exceptional capabilities of its co-founders and their compelling vision for the company.
Sharma emphasized Techstars’ commitment to supporting promising startups at early stages, reaffirming Klas’s potential for growth and impact in the ed-tech space.
Nathan Nwachuku, co-founder, and CEO of Klas highlighted the company’s impressive traction, with a user base of over 5,000 online schools (creators) and 300,000 learners spanning more than 30 countries.
While Klas’s primary user base is in Nigeria, the startup aims to expand its international presence, particularly in key markets like India and North America.
To facilitate its global expansion efforts, Klas currently facilitates transactions in naira for Nigerian users and dollars for international users.
The startup plans to further enhance its international presence by offering localized currency options in various countries, addressing currency devaluation concerns and improving user experiences.
With ambitious goals to power up to 100,000 online schools globally by 2027, Klas remains committed to democratizing access to education and empowering creators to monetize their expertise effectively.
The startup’s free plan, coupled with a 5 per cent transaction fee, makes it accessible to a wide range of users, fostering growth and innovation in the ed-tech ecosystem.