Sawari Ventures, Egypt’s leading venture capital firm today announced that it has led a $4.5 million Series A investment round for e-learning platform, almentor.net with participation from Egypt Ventures, Endure Capital and angel investor Mohamed El Amin. This brings the total funding raised by the company to USD $8 million to date.
almentor.net was launched in 2016 with a mission to address the lack of online personal development content for Arabic-speakers. The platform offers a catalogue of exclusive training videos and expert talks, introducing unique knowledge development solutions for the region in areas including health, technology, humanities, entrepreneurship and business management.
“We are very pleased to have led this latest round. From the beginning, we have supported Almentor’s mission to expand the personal development options available to young Arabic-speaking professionals in the MENA region. Filling this gap in the area of knowledge development and laying the foundation for a rich online learning ecosystem is crucial to the development of the next generation of empowered leaders. We are impressed with what the team has achieved in the last two years and are excited to be part of its future journey,” said Wael Amin, Partner at Sawari Ventures.
almentor.net plans to use the funding to accelerate course development and expand the roster of mentors who are recruited through a vigorous selection criterion, with a 10% acceptance rate in order to maintain the highest quality offered in the market.
“Already we have more than 10,000 videos online and we hope to use this investment to further avail our audience to even more enriching learning experiences, in the process helping young people enhance their personal development and confidence, while increasing their knowledge base,” said Ihab Fikry almentor.net CEO and co-founder.
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almentor.net is an online video e-learning platform, established by five prominent Arab professionals, whose objective is to develop and provide Arab users with the necessary skillset to advance in their careers. almentor.net has partnered with prominent leaders in the fields of human resources, management, sports, business, corporate communications and digital media. The platform currently has the biggest continuous learning library in the region, and one of the largest worldwide.
Sawari Ventures is a leading venture capital firm based in Cairo. It invests in people turning visionary ideas into market-leading companies in the MENA region, believing in the transformative power of entrepreneurial thinking.