Almentor, Egypt’s leading online video learning platform in Arabic, has raised US$10 million in a pre-series C funding round to accelerate its growth towards its goal of serving 10 million learners in the MENA region.
The round was led by e& capital, the tech investment arm of e&. With the investment, e& capital joins existing investors Partech, Sawari Ventures, Egypt Ventures, Sango Capital, and Endure Capital.
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 a 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.
Commenting on the funding, Dr. Ihab Fikry, Co-founder & CEO of Almentor, and Ibrahim Kamel, Co-founder & COO, said in a joint statement,
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.
Eddy Farhat, Vice President at e& Capital, said,
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 onboard, and we will collaborate with them to support their vision and help them realise their aspirations.
Almentor plans to use the funds to increase its investment in the B2C segment and to expand in Saudi Arabia.
