Image Credits: Bryce Durbin / Bryce Durbin (opens in a new window) Class , a virtual classroom that integrates exclusively with Zoom, announced today that it has raised $105 million in a financing led by SoftBank Vision Fund II. The 10-month old startup has now raised a total of $146 million in known venture funding to date, which eclipses the amount of capital raised by founder Michael Chasen’s now-public previous company, Blackboard.
Despite its infancy, Class is rapidly nearing unicorn status, confirming that it currently sports a post-money valuation of $804 million. Other investors in Class include GSV Ventures and Emergence Capital, who led the startups’ pre-seed round, as well as top U.S. edtech funds including Reach Capital, Owl Ventures, Insight Partners and Learn Capital.
Class, formerly Class for Zoom, uses management and instruction tools to bolster the video conferencing call experience. Since launch, Class has integrated exclusively with the videoconferencing giant, which rose to household name prominence during the initial months of the pandemic and continues to be a mainstay in synchronous communication. It’s part of a wave of Zoom alternatives and enhancements that have launched over the past year – and to date has over 250 customers. Today’s announcement of the SoftBank stamp of approval means that Class is making two statements: one, that it’s taking global expansion seriously, and two, I’d argue that it’s signaling that it is not looking to be just an acquisition target for Zoom. Globalization of edtech
SoftBank likes to back what it […]
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