Investments

Dubai’s Almentor raises $6.5 million Series B to grow its online video learning platform

Almentor, a Dubai-based online video learning platform has raised $6.5 million in a Series B round led by Parth, it announced today. The round also included the participation of Sawari Ventures, Egypt Ventures, and Sango Capital. The edtech had raised its $4.5 million Series A led by Sawari Ventures in October 2019. With this latest round of financing, Almentor has raised $14.5 million to date.

Launched in 2016, Almentor’s online platform offers thousands of courses on a variety of topics for Arabic speakers across the world. The courses are available in form of video lessons, which are produced in-house by the company using a network of experts and instructors. In addition to professional development courses that can help users with their careers, the platform also features courses on topics like kids development, parental and relationship management, health and fitness, and lifestyle.

Some of the courses can be purchased for as little as $5 (discounted priced), a quick scan of the website revealed. The website also features talks which are basically free-to-access video lessons on different topics. As the content is produced in-house, the quality of the videos is as good as anything you’ll see on the internet. Since its launch, Almentor claims to have offered over 2 million successful learning experiences.

The platform also serves corporates, enabling their employees to receive trainings at work. Its corporate clients can customize the video library according to their needs. In a statement, Almentor said that it has over 80 enterprise partnerships in the region.

Dr. Ihab Fikry, co-founder and CEO of Almentor, said, “We are now leading the continuous video learning industry in the Arab region, and we have a responsibility that goes beyond our ambitions for Almentor Company. Our responsibility now is to work unceasingly to improve the industry as a whole in the Arab region, and this can only be achieved through gaining the confidence of the Arab learners in the value, professionalism, and impartiality of the content provided by the platform, and working in line with the global learning trends.”

Cyril Collon, General Partner at Partech, said, “We are very proud to lead this latest round of financing. Since our first interaction, we have been very impressed by Ihab & Ibrahim, two fantastic mission-driven entrepreneurs who have been executing on a bold vision since 2016, and who built the leading Arabic self-learning go-to content provider in the Middle East and Africa. We are looking forward to supporting the company in its next phase of growth to serve the 430 million Arabic-speaking population and expand access to on-demand cutting-edge personal learning & development options.”

Wael Amin, Partner at Sawari Ventures, added, “We have supported Almentor’s  mission from its beginning and are pleased to participate in this latest round. Almentor has achieved notable traction in a space where there has been limited success for regional players, and have managed to efficiently deliver during the pandemic. We are impressed by what the team has achieved and are excited to be part of the journey.”

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