Dubai-based online learning and personal development platform Almentor has raised $4.5 million in a Series A round led by Sawari Ventures, the Egyptian VC announced today. The round that was also joined by Egypt Ventures, Endure Capital and angel investor Mohamed El Amin takes total capital raised so far by Almentor to $8 million.
Founded in 2016 by Ihab Fikry, Ibrahim Kamel, Abdelrhman Fahmy, Hesham Heikal and Husni Khuffash, Almentor’s online video learning platform offers users exclusive video courses and talks in Arabic and English to help them learn and improve skills in different areas including health, technology, humanities, entrepreneurship, and business management.
The talks are available for free for anyone to watch on Almentor’s platform but the courses have to be purchased (either in bundles e.g. business bundle or a single course). A quick scan of the website revealed that the courses start from $15.
Ihab Fikry, co-founder and CEO of Almentor, commenting on the occasion, said, “We already have more than 10,000 videos [on our platform] and we hope to use this investment to [add more for] our audience to [offer them] even more enriching learning experience and help young people enhance their personal development and confidence, while also increasing their knowledge.”
Wael Amin, Partner at Sawari Ventures, said, “We are very pleased to have led this latest round. From the beginning, we have supported Almentor’s mission to expand the personal development options available to young Arabic-speaking professionals in the MENA region.”
“Filling this gap in the area of knowledge development and laying the foundation for a rich online learning ecosystem is crucial to the development of the next generation of empowered leaders. We are impressed with what the team has achieved in the last two years and are excited to be part of its future journey,” he added.
Almentor that also has an office in Egypt plans to use the investment to accelerate course development and expand the roster of mentors who it says are recruited using a strict criterion with a 10 percent acceptance rate.
Latest posts by Zubair Naeem Paracha (see all)
- Saudi’s Dailymealz expands its subscription-based food delivery service to Kuwait - October 14, 2019
- Wamda X, the grant-based idea-stage program for entrepreneurs in MENA is now accepting applications for its second cohort - October 14, 2019
- Jumia’s stock has lost more than half of its value since going public six months ago, market cap is down to $520 million - October 13, 2019