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EdTech platform Educatly announces that it closed Pre-seed funding for $1 M with contributions from Enterprise Ireland, the Falak Startups, and other Angel Investors.
Launched in 2020, Educatly is a digital platform that allows students to search, compare and apply to over 120,000 live and up-to-date higher education opportunities globally. Since their launch, Educatly aspires to build the world's most comprehensive educational network to showcase all schools/colleges, programs as well as scholarships, language courses, professors, students, and alumni.
Egypt has been observing its third consecutive year of funding growth backing EdTech startups and innovations. Despite closing 33% fewer deals in 2021 YTD than transactions closed in Full Year 2020, Egypt-based EdTech startups observed a 26% YoY growth in funding and an impressive 240% growth in funding since 2018. Across MENA, it is startups like Jordan-based Abwaab, Saudi-based Jeel Platform, and UAE-based almentor.net that have closed major rounds this year in light of the global movement for academic digitization.
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Educatly is on a mission to digitally map and integrate the world education ecosystems making it highly accessible for its users. Building for learning programs what Linkedin did for jobs, the Egypt-based EdTech leverages the power of technology to connect all educational stakeholders in a seamless digital environment. Mohammed El Sonbaty, CEO & Founder of Educatly, expands on the challenges facing the education ecosystem "the challenge Educatly addresses affects millions of students and educators globally. In the last few decades, the world has seen an incredible speed in digital transformation across every sector, however, some of those sectors are lacking behind this speed, and we are concerned about education as the global education ecosystems is fragmented and largely dependent on infrastructure we built ages ago which no longer fits the way we operate today and that has a lot of negative implications in how transparent but also efficient people access their lifelong learnings."
Since its launch, the Egypt-based EdTech was bootstrapping until they closed this pre-Seed Round. During this period, Educatly had impressive traction onboarding 450+ schools to work with globally, in addition, to over 45,000 student profiles on the platform. Educatl has set forth on a mission to tap into the entire student educational journey and help through technology to facilitate their experience in the best way possible. “ Student recruitment is already a very costly challenge for universities globally, where many universities rely on external support through local agencies to recruit students to fill their classes. 60% of Universities in the US rely on agencies to reach their recruitment goals, however, what is mostly unknown is that universities are paying between 10 and 30% of students fee as commission per enrollment to these agencies who at most time funnel students to their partners despite student potential and interest" says Joan Manuel, Co-Founder, and CCO.
Eductaly will channel its newly acquired funds to develop its product, bring core team members, and scale its marketing and sales operations. With the support of Falak Startups and Enterprise Ireland, Educatly will achieve its growth plans faster by integrating new technologies like AI and Blockchain that will lead to maximizing the value they offer to their customers. Abdelrahman Ayman, Co-Founder, and COO concludes “Students want to have transparent access to all relevant opportunities out there while getting as personalized support as possible to reach the best possible decision. At educatly.com, users can browse through the largest up-to-date database globally with more than 120.000 higher education opportunities worldwide and filter according to their profile and preferences to find the programs most relevant for them. We leverage the latest technologies to narrow down the most relevant programs to support the decision-making process for them and offer personalized support through our network of consultants and ambassadors.”
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