Educatly, a premier global network in higher education, has announced that it has secured a new funding round of $2.5 million led by TLcom Capital and Plus VC. The round also saw participation from Egypt Venture (Egypt) and the HBAN syndicate (Ireland). The funding is not only a testament to the company's achievements but also solidifies its presence in the Middle East and Africa, including key markets such as Egypt, Saudi Arabia, the United Arab Emirates, Nigeria, Kenya, and Ireland.
Launched in 2020, Educatly aims to assist students in answering the most critical questions of what and where to study to achieve a bright professional future. The platform provides information on all types of schools and universities worldwide, as well as various programs and scholarships. Educatly employs advanced artificial intelligence (AI) and large language models (LLM) to ensure the accuracy of information, allowing students to make informed decisions. Additionally, Educatly helps universities reach and engage with students seamlessly, and currently, the platform features over 1,100 universities in 90 countries around the globe.
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 connect 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."
It is worth noting that Educatly has experienced rapid and notable growth, particularly following its recent announcement of securing $1 million in a pre-seed funding round, which included participation from Enterprise Ireland, Falak Startups, among other investors. This funding came after the platform's launch in late 2020. In addition to that, Educatly has research and development centers in Cairo and Dubai with investments totaling $500K a year aimed at developing a digital platform that meets global standards to enable students to seamlessly access various tailored services.
