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Nathan Nwachuku (CEO) and Lekan Adejumo (CTO) co-founded Klas in 2022 with the aim of establishing a platform for creating and selling courses, ebooks, and live classes across various disciplines, from coding to finance. Their platform encompasses features like payments, scheduling, analytics, video conferencing, and community options, catering to subjects like design, finance, art, and languages.
Nwachuku compares Klas’ mission to what Shopify accomplishes for online stores, aspiring to enable anyone to establish an online school and conduct classes. In 2021, Nwachuku collaborated with Adejumo and secured a $180,000 angel round. The subsequent year, they launched Klas and gained admission to Techstars.
Klas aims to simplify online education, addressing the complexities of existing edtech platforms. Nwachuku emphasizes the importance of facilitating the creation of online classes to promote economic inclusion amid the rising demand for online education.
The platform opts not to integrate third-party tools like Google Meet or Slack, opting for a closed-system model where every feature is developed in-house.
Klas presently serves over 300,000 learners from 30+ countries attending more than 5,000 online schools. Users have generated significant earnings through the platform’s classes, with Nigeria being its primary market.
Transactions in Nigeria are conducted in Naira (₦), while those outside the country use dollars ($). By 2027, Klas targets to serve 100,000 virtual schools globally, focusing on North America and India, its second-largest user base, with the recent funding set to expedite this expansion.
The startup applies a 5% transaction fee for its free plan and plans to introduce an enterprise option priced at $199 to assist large businesses in upskilling their employees.
Sunil Sharma, Managing Director of Techstars in Toronto, expresses confidence in Klas and its founders, reaffirmed by Techstars’ follow-on investment in the company.
Source: Techpoint