Almentor.net, a fast-growing Egyptian e-learning platform, has reportedly received new funding worth $4.5 million in its Series A round. The round was led by Sawari Ventures with significant contributions coming from Endure Capital, Egypt Ventures, and angel investor Mohamed El Amin.
With the success of the latest Series A round, the net capital raised by Almentor has shot all the way up to $8 million — a pretty impressive feat for a startup that had a modest start in 2016.
For those of you unfamiliar with the company, Almentor is a platform dedicated to helping the Arabic-speaking population to receive quality online personal development content. The startup goes about its objective by providing in-depth videos and expert talks, alongside a host of other knowledge-driven solutions.
Almentor also focuses on providing quality educational content on physical and mental health, entrepreneurship, business management, technology, and humanities.
Elaborating the company’s move to back Almentor, Wael Amin, Partner at Sawari Ventures, commented: “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.
He added: “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.”
With already more than 10,000 online videos up and running on the platform, Almentor plans on utilizing the newly raised capital to further expand its content portfolio while simultaneously adding more mentors and trainers to its faculty.