Klas Raises $1M in Pre-Seed Funding to Revolutionise Online Education

The Nigerian online teaching platform Klas has raised $1 million in pre-seed funding. This was led by Ingressive Capital and included contributions from Techstars, HoaQ, and several angel investors. Established in 2022 by entrepreneurs Nathan Nwachuku and Lekan Adejumo, Klas has been designed to facilitate the creation and sale of ebooks, courses, and live classes by its users.

The platform offers a suite of tools essential for online education, such as class scheduling, secure payment processing, community engagement features, detailed analytics, and integrated video conferencing. This diverse functionality caters to a wide range of subjects, spanning from coding and design to finance, art, and languages, thereby addressing the varied needs of its global user base.

Drawing an analogy to Shopify's impact on e-commerce, Nathan Nwachuku, co-founder and CEO of Klas, described the platform's mission to TechCrunch, stating, "What they are doing for online stores where anyone can set up their stores and sell anything online is what Klas is trying to do for its users by helping them set up online schools and run classes."

Klas's inception traces back to Nwachuku's personal challenges and aspirations. Following a severe accident that led to a prolonged absence from school, he envisioned creating an online physics class to engage with his passion for the subject and to provide education while overcoming the barriers he faced with existing platforms. This vision, coupled with his determination, saw him forgo a scholarship to Canada to develop Klas alongside his co-founder and CTO, Adejumo.

Klas positions itself as a user-friendly alternative to more established platforms like Kajabi and Thinkific, which can be daunting for novices due to their complexity. By focusing on simplicity and ease of use, Klas aims to attract and support first-time online educators, contributing to the burgeoning demand for online learning resources.

A key differentiator for Klas is its closed ecosystem approach, which avoids reliance on third-party applications like Zoom or Google Meet for virtual classrooms. Instead, the platform has developed its proprietary tool, KlasLife, featuring a unique video architecture designed from the ground up to enhance the online class experience.

Currently, Klas supports over 5,000 online schools, with creators earning substantial revenue through the platform, and serves 300,000 learners across more than 30 countries. With a significant portion of its user base in Nigeria, it is also expanding its reach to other markets, including India and North America, focusing on localised currency options to facilitate easier transactions.

The platform offers a free plan with a 5% transaction fee, with plans to launch an enterprise product aimed at reskilling employees in large companies. This move is anticipated to further Klas's revenue streams while maintaining its commitment to affordability and accessibility.

Reflecting on the investment, Sunil Sharma, Managing Director of Techstars Toronto, praised the co-founders' vision and capabilities, stating, "It has been a rewarding experience to have invested in Klas at the earliest stage of the company based on the core abilities of the co-founders Nathan and Lekan and the vision they set for the company."