Blackboard’s Former CEO Attracts More Millions for Its Zoom-Based Startup

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IBL News | New York

ClassforZoom.com, now rebranded as Class.com, announced yesterday it raised an additional $12.25 million in funding.

This startup led by Blackboard co-founder and former CEO Michael Chasen has raised $58 million in the last 12 months ($30 million Series A in February 2021 and a $16 million seed round in September 2020), despite its limited number of clients: 125 paying clients, according to Techcrunch.

“In the seven months since Class has launched, over 7,500 K-12 and Higher-Ed institutions, as well as corporations, around the world have reached out interested in using Class,” said the company – now called Class Technologies Inc.

Investors in the last round included Salesforce Ventures and American quarterback and Super Bowl champion and entrepreneur Tom Brady. Also, this financing included Sound Ventures and entrepreneur Guy Oseary. Exact investment amounts were not disclosed.

Tom Brady — who debuts as a VC — praised Michael Chasen as a proven education and technology pioneer and fellow father of three, to bring the promise, potential, and power of the digital classroom to people around the world.”

Class.com is built on the Zoom Meetings platform. Its software adds teaching and learning tools to Zoom. Features include:

  • Present from the front of the class
  • Take attendance
  • Track participation
  • Hand out assignments and quizzes
  • Proctor exams
  • Grade work
  • Talk one-on-one with a learner

The price for Class’ services ranges from $10,000 to $65,000 annually, depending on the number of students.

A number of EdTech companies are building their platform on top of Zoom, given the fatigue caused by video conference-based classes. Engageli, Top Hat, and InSpace are some of those companies.

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