Egypt’s Almentor, one of the leading online video learning platforms in Arabic, has raised a US$10M pre-Series C round of funding to accelerate its growth towards its goal of serving 10 million learners in the MENA region.
e& capital, the tech investment arm of e&, led the round with participation from existing investors like Partech, Sawari Ventures, Egypt Ventures, Sango Capital and Endure Capital. The edtech plans to use the funds to increase its investment in the B2C segment and to expand in Saudi Arabia.
Founded in 2016, Almentor has worked with more than 950 prominent experts to create over 1,000 online courses for individuals, corporations, and government entities. It combines a personalised learning experience with high-quality Arabic content.
With a choice of the monthly or annual subscription, learners get unlimited access to a library of over 700 courses on topics as diverse as health, humanities, technology, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media.
“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,” said Dr Ihab Fikry, co-founder and CEO of Almentor, and Ibrahim Kamel, co-founder and COO.
Eddy Farhat, vice president at e& capital, said he believed education was at an inflexion point in how it is delivered and consumed.
“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 hires bring on board, and we will collaborate with them to support their vision and help them realise their aspirations,” he said.
