Educatly, an Egyptian edtech company, has announced the closing of a $1 million investment from Enterprise Ireland, Fala startups, and other Angel investors. The pre-Seed round follows the launch of the platform in late 2020.
Educatly is an educational technology platform that allows students to search, compare, and apply to over 120,00 live and current higher education options throughout the world.
Since its launch in 2020, the user base has grown to over 100,000 people from 190 countries, with over half a million programs seen.
The startup is working to digitally map and connect the globe’s education ecosystems in order to make them more accessible.
The startup claims to be doing for education what LinkedIn has done for jobs.
Educatly’s mission is to create the world’s most flexible educational network, showcasing all learning institutions, programs, scholarships, language courses, professors, students, and graduates.
The firm uses technology to bring all educational stakeholders together in a digital world.
Mohammed El Sonbaty, the CEO and owner of Educately, spoke about the issues facing the education ecosystem, adding that the problem the company is trying to solve impacts millions of students and instructors throughout the world.
He stated that while the world has seen the incredible speed in digital transformation across every sector, some of those sectors are lagging behind, and the startup is particularly worried because the global education ecosystem is fragmented and largely dependent on infrastructure built decades ago that no longer fits the current operation, which has a number of negative implications in how transparent and effective people access their lifelong learnings.
The Co-Founder and CCO, Joan Manuel said: “At the same time, COVID-19 has put institutions under enormous pressure to digitize not only their educational programs but also the manner they offer them and communicate with prospective students.”
She went on to say that student recruitment is already a costly burden for universities all across the world, with many relying on outside help from local businesses to fill their classes.
Most individuals are unaware that universities pay between 10% and 30% of a student’s cost to these firms as a commission per enrollment, which in most cases steer students to their partners irrespective of their potential.
Abdelrahman Ayman, Co-Founder and COO explained that students desire open access to all relevant possibilities while receiving as much tailored assistance as possible to help them make the best selection possible.
He explains that users can search the most up-to-date database in the world, with over 120.000 higher education possibilities, and filter results based on their profile and preferences to locate the programs that are most relevant to them at educatly.com.
“We use the most up-to-date technologies to help them narrow down the most appropriate programs and provide individualized support through our network of advisors and ambassadors.”
Educatly had been bootstrapping from its inception until they completed this pre-Seed Round. The company gained significant traction during this time, onboarding over 450 schools from around the world to work with, as well as over 45,000 student profiles on the site.
The startup plans to capitalize on this success by using the funds to further develop their product, hire key personnel, and increase their advertising and marketing operations.
With the help of Falak Startups and Enterprise Ireland, the startup will be able to accelerate its growth goals by incorporating new technologies such as AI and Blockchain, which will allow them to provide more value to its consumers.
Educately’s wants to provide every student with transparent access to and assistance in the world of education, and their goal is to be able to tap into the complete student educational journey and use technology to help them have the greatest possible experience.
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