Source: MAGNiTT
almentor, a UAE-based online video learning platform has closed a $6.5m Series B funding round led by Partech Partners, with participation from Sawari Ventures, Egypt Ventures and Sango Capital, thus bringing the total financing that the company has garnered since its inception to $14.5m.
The startup raised $3.5 million in Seed funding in 2016, then raised $4.5 million in Series A funding in 2019.
Launched in 2016, Almentor’s e-learning and professional people development network aims to address the lack of online learning content for Arabic speakers. The startup offers video courses and talks in Arabic for speakers of the language across the world, with courses available in video form. The platform also features courses on topics such as the development of children, parental and relationship management, health and fitness, and lifestyle.
Dr. Ihab Fikry, CEO and co-founder of almentor commented “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 added “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 mentioned "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."
