Almentor, Egypt’s top online video learning platform in Arabic, has secured a $10 million pre-Series C round of funding to help it reach its objective of reaching 10 million learners in the MENA region.
Since its inception in 2016, Almentor has collaborated with over 950 famous experts to develop over 1,000 online courses for people, corporations, and government bodies. It blends individualized learning with high-quality Arabic content.
Learners have unrestricted access to a library of over 700 courses on themes as broad as health, humanities, technology, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media with a monthly or annual subscription.
The startup’s goal is to reach 10 million learners across the MENA area, and it has now secured a US$10 million pre-Series C round headed by e& capital, the company’s innovation investment arm.
Existing investors include Partech, Sawari Ventures, Egypt Ventures, Sango Capital, and Endure Capital. The money will be used primarily by Almentor to enhance its investment in the B2C segment and to develop in Saudi Arabia.
According to Dr. Ihab Fikry, co-founder and CEO of Almentor, and Ibrahim Kamel, co-founder, and COO, empowering ten million learners is a significant milestone in Almentor’s greater aim of providing hope and development possibilities to people in MENA.
The organization is extremely proud and excited to collaborate with an institution like e& to further improve Almentor’s experience.
Eddy Farhat, vice president at e& capital, believes education is at a tipping point in terms of how it is offered and consumed.
“Our investment in Almentor intends to capitalize on this economic opportunity while driving significant educational impact in our fast-growing region.
We feel that Almentor’s customized learning experiences and high-quality Arabic content will help us reach this aim. We are pleased by the founding team’s experience and the fresh perspective that the new senior recruits bring to the table, and we will work with them to support their vision and help them achieve their goals,” he said.
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