Almentor, the leading online video learning platform in Arabic, has secured $10 million in a pre-Series C round led by e& capital, the tech investment arm of e&.
The proceeds will be used to accelerate the company's growth towards its goal of serving ten million learners in the MENA region.
Almentor targets a market of more than 400 million Arabic speakers with underserved educational needs. Almentor bridges the gap by providing affordable education and improving learners' access to the employment market.
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. The start-up has worked with more than 950 mentors to create over 1,000 online courses for individuals, corporations, and government entities since 2016.
The company recently launched its monthly and annual subscription plans, where learners get unlimited access to a library of over 700 courses on diverse topics such as health, humanities, technology, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media.
The company plans to use the funds to increase its investment in the B2C segment and to expand in Saudi Arabia. Almentor's existing investors, Partech, Sawari Ventures, Egypt Ventures, Sango Capital, and Endure Capital, also participated in the funding round.