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In an effort to empower youth and connect them to employment opportunities; EdVentures announced a $200K investment in Career 180 with the aim of developing a new employment platform and merging it with the Freelance Yard to create an integrated platform that provides employment and qualifying services to youth covering all job types.
Since its establishment, Career 180 has worked to provide a variety of professional counseling services through its platform that is aimed at preparing youth for the labor market. It offers career counseling videos on its website, as well as a variety of additional services such as workshops and theoretical or practical training programs for young people in their various specialties. It also holds career guidance sessions and meetings to gather youth and connect them with senior experts in different specializations and professions through one-day activity.
Given the remote and hybrid lifestyles adopted globally due to the pandemic, EdTech ecosystems in Emerging Venture Markets have been observing growing investor traction. This feat could be spotted in Saudi Arabia for example, where VC funding backing EdTech ventures grew by 30% YoY in 2020, with Aaanab and Noon Academy raising major EdTech rounds in 2020. Similarly, 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. This latest investment comes amidst a wave of EdTech investments in MENA in the past week, including major rounds closed by Jordan-based Abwaab and Egypt-based Educatly, added to an early stage round by KSA-based Algooru earlier this week.
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The company organizes the Egypt Career Summit every year, which is one of the largest events attended by thousands of youth, numerous multinationals, local companies and startups, and hundreds of experts in various business sectors in Egypt. It is full of lectures, interactive panel discussions, and workshops that aim to elevate career awareness and prepare more qualified highly demanded calibers. The founders of Career 180 stated, “We aim to create a comprehensive online platform that qualifies youth to the job market and facilitates their hiring at multinational, local companies and startups, through offering hundreds of online courses and programs, in addition to offering thousands of jobs at Career 180 and Freelance Yard."
Career 180 plans to channel its newly acquired funds to further enhance its career advising services and increase its training programs; reaching a greater number of users, as it seeks to train one million trainees and assist 300,000 users in finding suitable job opportunities.“We constantly aim at empowering youth, and that’s why we were excited to do a new round of investment in Career 180. Their new platform will enable youth to find job opportunities while helping them develop their skills and capabilities through the various training programs offered by this platform.” concluded Dalia Ibrahim, the Founder & CEO of EdVentures.
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