Klas – Nigerian EdTech Secures $1M Funding for Global Expansion in Online Education

Klas – Nigerian EdTech Secures $1M Funding for Global Expansion in Online Education

Nigerian edtech startup Klas has successfully secured $1 million in pre-seed funding in a round led by Ingressive Capital, with contributions from Techstars, HoaQ Capital, and various angel investors.

Founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas provides a platform that facilitates the creation and sale of ebooks, courses, and live classes. The platform encompasses essential class components such as scheduling, payments, community features, analytics, and video conferencing, catering to a diverse range of subjects from coding and design to finance, art, and languages.

Co-founder Nwachuku, who started Klas at the age of 18 following a personal experience, where he lost an eye due to an accident three years ago, compares the platform’s role in online education to what Shopify does for online stores. The idea for the company originated from his desire to create an online physics class after recovering from a life-changing accident. Faced with complexity in existing platforms, Nwachuku envisioned a streamlined solution, leading to the inception of Klas.

Unlike established platforms like Kajabi and Thinkific, which can be overwhelming for first-time users due to the maturity of their products, Klas positions itself as a late mover with a focus on simplicity. The startup aims to provide a user-friendly experience, making it accessible for beginners to effortlessly host engaging online classes. Nwachuku emphasized their closed ecosystem, building everything, including the virtual classroom tool called KlasLife, from the ground up.

As of now, Klas boasts a user base of over 5,000 online schools and 300,000 learners in over 30 countries. While the majority of its users are based in Nigeria, the company has ambitious plans to expand internationally, with a specific focus on India and North America. To address currency concerns, Klas intends to introduce localized currency options in various countries.

Looking ahead, Klas aims to power up to 100,000 online schools globally by 2027. Currently offering a free plan with a 5% transaction fee, the startup is contemplating introducing an enterprise product priced at $199 per month to further boost its revenues.

The investment in Klas, supported by Techstars, reflects confidence in the founders’ core abilities and their vision for the company. Klas’s innovative approach, coupled with its late-mover advantage, positions it as a compelling option in the ever-growing online education market.

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