Leading international network for higher education, Educatly, has announced that it has raised an additional $2.5 million in funding, with TLcom Capital and Plus VC leading the round. Egypt Venture (Egypt) and the HBAN syndicate (Ireland) also participated in the round. The financing not only validates the company’s successes but also strengthens its position in the Middle East and Africa, encompassing important markets like Egypt, Saudi Arabia, the UAE, Nigeria, Kenya, and Ireland.
Educatly was founded in 2020 with the goal of helping students find the answers to the most important questions regarding what and where to study in order to have a successful career. The website offers details on numerous programs and scholarships, in addition to information on all kinds of colleges and universities across the globe. Large language models (LLM) and sophisticated artificial intelligence (AI) are used by Educatly to guarantee information accuracy so that students can make wise decisions. Furthermore, Educatly facilitates easy communication between universities and students; at the moment, the platform includes over 1,100 universities in 90 different countries.
Engineer Mohmmed El-Sonbaty, Founder and CEO of Educatly, stated, “Today’s announcement marks a significant milestone for Educatly. When we first launched Educatly, our aim was to bridge the gap between students’ educational needs and the available educational opportunities to align with their capabilities and ambitions. Today, we are proud to receive this new investment, which reaffirms our commitment to continue working towards our vision and strategic goals through an ambitious plan aimed at increasing growth and expanding our operations in Africa and the Middle East. It will also enhance the services we provide to reach more students around the world and help them achieve their goals.”
Dr. Abdelrahman Ayman, Co-Founder, and Chief Operating Officer of Educatly, added, “This fund highlights the potential of educational technology in the region. Since the launch of Educatly, we have offered a wide range of services, with our business model focusing on three main pillars: helping students choose their fields of study, find the ideal programs and universities, and connecting with students and Alumni around the world. We provide a comprehensive digital map of educational institutions worldwide to assist users. We also offer financial support through diverse installment systems in collaboration with our partners, helping students access the best educational programs based on their needs. To date, we have reached over 3 million students and aim to increase this number to approximately 7 million by the end of 2024.”
Notably, Educatly has grown quickly and significantly, especially after announcing that it had raised $1 million in a pre-seed funding round that included participation from investors like Falak Startups and Enterprise Ireland. After the platform launched in late 2020, this funding was provided. Furthermore, with an annual investment of $500,000, Educatly maintains research and development centers in Cairo and Dubai with the goal of creating a digital platform that satisfies international standards and allows students to easily access a range of customized services.
