Almentor Raises $6.5 Million in a Series B Round Led by Partech

Almentor Raises $6.5 Million in a Series B Round Led by Partech
Source: TechCrunch

Almentor, a leading video e-learning platform in the MENA region, has secured $6.5 million in a funding round led by Partech with participation from Sawari Ventures, Egypt Ventures, and Sango Capital.

Even though there are over 400 million Arabic speakers globally, it can be hard to find tailored Arabic content. Dr. Ihab Fikry and Ibrahim Kamel founded Almentor.net in 2016 as an online video learning platform to compensate for this 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.

In 2016, Almentor closed a $3.5 million seed round and two years ago raised $4.5 million Series A led by Egypt’s Sawari Ventures. With this Series B investment, the Dubai-based edtech company has raised $14.5 million in total. San Francisco and Paris-based VC firm Partech led the financing round.

Almentor provides Arab learners with the necessary skills crucially needed to advance their professional careers and personal lives. The platform claims to have the biggest continuous learning library in the region and one of the biggest worldwide. With offices in Dubai, Cairo, and Saudi Arabia, its video content is developed in-house in both Arabic and English.

Almentor’s business is an intersection of education, media, and technology. Its offerings are dissected into three: the flagship B2C product, a white-label B2B model for blue-chip companies, and the last, which Fikry calls the ‘special project’ for governmental bodies. The startup has successfully delivered more than 2 million learning experiences across the three categories.

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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