Class Raises $105 Million in Series B Funding Led by SoftBank Vision Fund 2
New Funding to Accelerate Growth and Fuel Global Expansion
WASHINGTON, July 28, 2021 /CNW/ -- Class Technologies Inc., the company enhancing virtual and hybrid classrooms by adding teaching and learning tools to Zoom, has raised a $105 million Series B funding round led by SoftBank's Vision Fund 2*.
Additional investors participating in this round include: 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 Super Bowl champion and entrepreneur Tom Brady. The financing will be used to accelerate the company's growth and expand globally into new markets and brings total funding to over $160 million in under a year.
"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," said Michael Chasen, education software pioneer and Class co-founder and CEO. "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.
"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," said Kristin Bannon, Investment Director, SoftBank Investment Advisers. "We're excited to partner with Michael and the Class team to support their ambition of enhancing virtual and hybrid learning around the world."
In conjunction with the funding, Kristin Bannon, Investment Director, SoftBank Investment Advisers will join the Class board of directors.
"Over the past year, students and instructors around the world have been using Zoom to power remote and hybrid classes," said Audrey Witters, Managing Director, Online & Entrepreneurship Programs at Stanford Graduate School of Business, and Class strategic advisory board member. "Class offers features designed to make virtual classrooms around the world feel more like real classrooms."
Class is built on the Zoom Meetings platform and provides everything needed to facilitate instruction and improve learner engagement in virtual and hybrid classroom settings. The software adds teaching and learning tools to Zoom that enable instructors to perform many of the activities that happen in a real classroom. Class helps instructors at educational institutions and corporations take attendance, hand out assignments, give a quiz or test, grade work, proctor exams, talk one-on-one with a learner, and more. Since launching less than a year ago, Class is already deployed in the United States and in over 20 countries worldwide.
The latest fundraising comes just one month after full general availability was announced across Windows, Mac, Chromebook, iPad and Android tablets.
To inquire about Class or schedule a demo please click here.
About Class Technologies Inc.
Class is software developed by Class Technologies Inc., a company founded by education software pioneer Michael Chasen. Class adds teaching and learning tools to Zoom and makes the virtual classroom feel like a real classroom. It helps teachers take attendance, hand out assignments, give a quiz or test, grade work, proctor exams, talk one-on-one with a student, and more. Class is headquartered in Washington, DC with staff around the world. Schedule a demo at class.com and follow us on Instagram and Twitter at @WeAreClassTech.
Zoom is a trademark of Zoom Video Communications, Inc. Class Technologies Inc. and its product Class are not sponsored, endorsed, or otherwise affiliated with Zoom.
*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 ("SVF 2") in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.
SOURCE Class Technologies Inc.
For Class Media Relations contact: Desiree Rosa, MULTIPLY | [email protected], http://www.class.com
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