Nigerian Ed-tech Startup, Klas, Raises $1Million in Pre-seed Funding
Klas: Nigerian Ed-Tech Startup Raises $1 Million in Pre-Seed Funding.
In a significant development for Nigeria’s education technology sector, Klas, an innovative ed-tech startup, has successfully secured $1 million in pre-seed funding. This injection of capital is poised to propel the expansion of Klas’s online teaching platform on a global scale.
Led by prominent investors including Ingressive Capital, Techstars, HoaQ Capital, and a cohort of angel investors, this funding round underscores the growing confidence in Klas’s mission. Co-founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas offers a versatile platform that empowers users to create and market ebooks, courses, and live classes.
Amidst a vibrant landscape of ed-tech pioneers in Nigeria, such as ULesson, Edukoya, Utiva, and Alt School, Klas stands out for its comprehensive suite of features. From scheduling and payments to community engagement tools, analytics, and seamless video conferencing capabilities, Klas caters to a diverse array of subjects including coding, design, finance, art, and languages.
Building on its earlier success with an angel round of $180,000 in 2021, Klas gained entry into the esteemed Techstars Accelerator program the following year. Notable investors from the previous round include industry luminaries like Odun Eweniyi of Piggyvest and Tola Adesanmi of Spleet.
Sunil Sharma, Managing Director of Techstars Toronto, emphasized the rationale behind their investment in Klas, citing the exceptional capabilities of the co-founders and the company’s compelling vision. He expressed confidence in Klas’s potential, underlining Techstars’ commitment to backing outstanding opportunities through follow-on investments.
Expanding Global Reach
Nathan Nwachuku, co-founder and CEO of Klas, revealed the company’s impressive growth trajectory, boasting a user base of over 5,000 online schools (creators) and 300,000 learners spanning more than 30 countries. While Nigeria remains a key market, Klas is strategically positioned to capitalize on international opportunities, particularly in India and North America.
To facilitate seamless transactions, Klas currently supports payments in naira for Nigerian users and dollars for international customers. The company aims to further enhance its global footprint by introducing localized currency options and optimizing user experiences in various markets.
Looking ahead, Klas is poised for exponential growth, with plans to empower up to 100,000 online schools worldwide by 2027. With a compelling value proposition and a commitment to innovation, Klas offers a free plan supplemented by a modest 5% transaction fee, ensuring accessibility for creators and learners alike.