MENA learning platform raises $10m
Almentor, an online video learning platform in Arabic, has raised $10 million in growth capital in a pre-series C round led by e& Capital, the tech investment arm of e&. The proceeds will be used to accelerate Almentor’s growth towards its goal of serving 10 million learners in the MENA region. In particular, the company will use the funds to increase its investment in the B2C segment and to expand in Saudi Arabia. e& Capital joins existing investors Partech, Sawari Ventures, Egypt Ventures, Sango Capital and Endure Capital.
Almentor targets a market of more than 400 million Arabic speakers with underserved educational needs. The MENA region’s population is growing at a faster pace than the populations of developed markets, however, the region remains lagging in its spending and investment in education. Almentor bridges the gap by providing affordable education and improving learners’ access to the employment market.
Since 2016, Almentor has worked with more than 950 mentors to create over 1,000 online courses for individuals, corporations, and government entities. The start-up recently launched its monthly and annual subscription plans where 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.