Almentor bags $6.5 Mn fund, round led by Partech
By MYBRANDBOOK
The video e-learning platform, Almentor has raised $6.5 million in a funding round led by Partech with participation from Sawari Ventures, Egypt Ventures, and Sango Capital. The company has raised $14.5 million since inception.
Speaking about the company's goals and endeavors, Dr. Ihab Fikry, CEO and co-founder of Almentor, stated, “ 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.” He added, “almentor.net library 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.”
Almentor.net was founded by Dr. Ihab Fikry and Ibrahim Kamel in the year 2016 as an online video learning platform to compensate for the lack of online learning content for Arabic speakers. In collaboration with hundreds of leaders, educators, and experts, the platform offers courses and talks in various fields. These include health, humanities, tech, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media.
With this investment, the company wants to improve content production and quality and educate people in the MENA region on why they need the product.
“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,” Fikry, Almentor’s CEO states.
Speaking on the investment for Partech, general partner Cyril Collon said, “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, 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 & developments options.”
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