Investment & Fund Management

Classter, a cloud-based platform providing management solutions for academic institutions, faced significant challenges as it sought to expand beyond its initial focus on the Greek market, where it primarily served private schools. By 2015, the company had begun to branch out, selling to over 400 academic institutions across the Balkans, southern Europe, Africa, and more recently, the UK and Germany. However, this internationalization effort coincided with a peak in the economic crisis in Greece, characterized by capital controls and political instability, which severely impacted their clients.

To address these challenges, Classter received financial backing from Odyssey Venture Partners and the European Investment Fund (EIF) through the JEREMIE Greece initiative. This investment was crucial for advancing product development and enhancing the user interface, as well as for expanding sales efforts abroad. CEO Nikolaos Nikou emphasized that the investment allowed Classter to maintain its workforce during a tumultuous period, avoiding layoffs and even hiring three new employees. The financial support enabled the company to focus on product growth and adapt its sales strategy for international markets, which he described as a "different ballgame."

As a result of these tailored solutions, Classter not only stabilized its operations during a crisis but also positioned itself for future growth. The company aims to expand its team to 15-20 employees over the next 18 months while refining its product to offer a more self-service model. Despite ongoing challenges in finding skilled software developers, Classter remains committed to innovating within the education sector, with aspirations to significantly impact the industry.