Egypt’s almentor, the leading online video learning platform in Arabic, has raised $10 million in pre-Series C funding to expedite its growth towards its goal of serving 10 million learners in the MENA region.
The funding was raised through a round of funding called a pre-Series C round of funding. Since its inception in 2016, almentor has collaborated with more than 950 well-known experts to develop over 1,000 online courses for individuals, businesses, and governmental organisations. It blends an individualised learning experience with content that is of a very high standard in Arabic.
Learners have the option of subscribing on a monthly or annual basis, and either option grants them unrestricted access to a library containing more than 700 different courses covering subjects as varied as medicine, the humanities, technology, entrepreneurship, business management, lifestyle, theatre, sports, corporate communication, and digital media.
With the goal of providing services to 10 million students across the MENA area, the firm has just closed a pre-Series C funding round for the amount of US$10 million, which was headed by e& capital, the technology investment arm of e&. e& capital joins current investors Partech, Sawari Ventures, Egypt Ventures, Sango Capital and Endure Capital. Aimentor plans to put the majority of the cash towards expanding its operations in Saudi Arabia and increasing its investment in the business-to-consumer market.
Read also: Qualcomm Launches Africa Innovation Platform For Training, Mentorship, And Education
Remark from the Executives
Dr Ihab Fikry, co-founder and CEO of Almentor, and Ibrahim Kamel, co-founder and COO said, “Empowering ten million learners is a key milestone in almentor’s broader vision of creating hope and development opportunities for the people in MENA. We are very proud and excited to partner with an institution such as e& to create further impact in almentor’s journey.”
According to Eddy Farhat, vice president of e& capital, who believes education is currently at an inflection point in terms of how it is delivered and consumed, the phrase “inflection point” is used.
“Our investment in almentor aims to capitalise on this economic opportunity while driving tangible educational impact in our fast-growing region. We believe that almentor’s personalised learning experiences and high-quality Arabic content will be instrumental in achieving this goal. We are impressed with the experience of the founding team and the fresh perspective that the new senior hireas bring onboard, and we will collaborate with them to support their vision and help them realise their aspirations,” he remarked.
Impacc gGmbH provides $150k in funding to East African social entrepreneurs
About almentor
Almentor is a disputed online learning platform with video content that can be accessed through B2C and B2B channels. It was founded in 2016 by Abdelrhman Fahmy, Hesham Heikal, Husni Khuffash, Ibrahim Kamel, and Ihab Fikry.
Almentor equips those learning in Arabic with the knowledge and abilities that are critical to the advancement of their professional careers as well as their personal life. The platform asserts that its library of continuous learning resources is the largest of its kind in the region and among the largest in the world. It has offices in Dubai, Cairo, and Saudi Arabia, and all of its video material, both Arabic and English, is produced in-house.
The companies that Almentor merges can be likened to the confluence of education, the media, and technological advancement. Its products may be broken down into three categories: its core business-to-consumer (B2C) product, a white-label business-to-business (B2B) model for blue-chip firms, and a third category that Fikry refers to as the “special project” for governmental entities.
Users can purchase courses from Almentor for $20 to $30, and they are theirs to keep permanently as part of the company’s B2C offering. According to Fikry, the company has plans to launch a subscription-based business model in June. Under this model, the company’s more than one million registered users will be able to pay a fee to gain unrestricted access to all of the company’s 12,000 pieces of video material.
