Class Technologies, which adds teaching and learning tools to virtual and hybrid classrooms on Zoom, has raised a $105 million Series B funding round led by SoftBank’s Vision Fund 2.
Additional investors included GSV Ventures, Emergence Capital, Maven Partners, Owl Ventures, Insight Partners, Swan & Legend Venture Partners, Revolution’s Rise of the Rest Fund, Learn Capital, Reach Capital, Slow Ventures, Sound Ventures, Chimera Investment, Daher Capital, Guy Oseary, Bill Tai, and American football star Tom Brady.
Class’s software enables instructors to perform many activities that happen in physical classrooms, including taking attendance, handing out assignments, conducting a quiz or test, grading work, proctoring exams, and talking one-on-one with a learner. A month ago, full general availability was announced across Windows, Mac, Chromebook, iPad and Android tablets. Since launching less than a year ago, Class has been deployed in the US and in more than 20 other countries.
The financing will be used to accelerate the Washington DC-based company’s growth and expand globally into new markets, and brings its total funding to more than $160 million in under a year.
Class’s co-founder and chief executive Michael Chasen said: “Class has a bold vision for changing the way the world learns, and we have experienced increased demand for Class not just in the United States, but around the world. This investment will be used to rapidly deploy Class domestically and globally. Reaching places where the need for online learning and corporate training is urgent and often touches places and populations that are the most underserved, difficult to reach, and are at different stages of mitigating the pandemic.”
Kristin Bannon, investment director at SoftBank Investment Advisers, added: “Throughout the pandemic, we’ve witnessed a dramatic acceleration in the adoption of digital services in education and training. We believe Class is using innovative tools to enhance the virtual and hybrid classroom experience by engaging learners more effectively. We’re excited to partner with Michael and the Class team to support their ambition of enhancing virtual and hybrid learning around the world.”
Bannon is joining the Class board of directors.
Date published: 17 August 2021