Ed-tech startup Klas has successfully raised $1 million in pre-seed funding to expand its online teaching platform globally. The funding round was led by Ingressive Capital, with participation from Techstars, HoaQ Capital, and several angel investors. Founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas offers users the ability to create and sell ebooks, courses, and conduct live classes.
Klas operates within Nigeria’s thriving edtech landscape, alongside other notable players such as ULesson, Edukoya, Utiva, and Alt School. Its platform provides essential class components like scheduling, payments, community features, analytics, and video conferencing, covering a wide range of subjects from coding and design to finance, art, and languages.
Previously, Klas secured an angel round of $180,000 in 2021, using the funds to launch the platform and gain entry into the Techstars Accelerator program the following year. Notable investors in the angel round included founders of Nigerian tech startups such as Odun Eweniyi from Piggyvest and Tola Adesanmi from Spleet.
Commenting on the funding, Sunil Sharma, Managing Director of Techstars Toronto, expressed confidence in Klas, citing the exceptional abilities of its co-founders and their vision for the company. He emphasized the rewarding experience of investing in Klas and highlighted Techstars’ commitment to supporting exceptional opportunities.
Co-founder and CEO Nathan Nwachuku shared insights into Klas’s business, noting that the platform currently serves over 5,000 online schools (creators) with hundreds of thousands of dollars in earnings and boasts 300,000 learners across 30 countries. While the majority of its users are based in Nigeria, Klas aims to strengthen its international presence, particularly in India and North America. To address currency devaluation concerns, the startup plans to offer localized currency options in various countries, enhancing user experiences and expanding its global reach.
With ambitions to empower up to 100,000 online schools worldwide by 2027, Klas offers a free plan with a 5% transaction fee, aligning its strategy with the goal of democratizing access to quality education globally.
