BY TOM JACKSON
Egyptian startup Almentor, the leading video e-learning platform in the MENA region, has raised US$6.5 million in Series B funding to expand operations.
Launched in 2016 to compensate for the lack of online learning content for Arabic speakers, Almentor offers courses and talks in various fields such as human resources, management, lifestyle, drama, sports, business, corporate communication, and digital media.
With over two million successful learning experiences, and more than 80 enterprise partnerships in the MENA region, the startup has seen good traction, and is now planning on further growth after banking US$6.5 million in Series B funding. The round, which takes Almentor’s total raised capital to US$14.5 million, was led by Partech with the participation of Sawari Ventures, Egypt Ventures and Sango Capital.
“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. 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,” said Dr Ihab Fikry, chief executive officer (CEO) and co-founder of Almentor.
“Almentor has an abundance of courses and talks that are capable of nurturing Arab youth, enhancing their personal experiences, and serving their career paths by providing them with what they deserve to advance their careers on all fronts.”
Cyril Collon, general partner at Partech, said his firm was proud to lead Almentor’s latest round of financing.
“Since our first interaction, we have been very impressed by Ihab and Ibrahim, two fantastic mission-driven entrepreneurs who have been executing on a bold vision since 2016,” he said.
“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 and development options.”