Educatly Closes $2.5 Million Funding Round

• Egyptian edtech company Educatly has raised a new round of funding of $2.5 million led by TLcom Capital and Plus VC. Egypt Venture (Egypt) and HBAN syndicate (Ireland) also participated in the round.
• Founded in 2020 by Mohamed ElSonbaty, Abdelrahman Ayman, and Joan Manuel, Educatly democratizes access to higher education opportunities.
• This funding will strengthen Educatly’s presence in the Middle East and Africa, including key markets such as Egypt, Saudi Arabia, the United Arab Emirates, Nigeria, Kenya and Ireland.

• In 2021, Educatly raised $1 million in pre-Seed funding from Falak Startups, Enterprise Island, and a group of angel investors.

Press Release:

Educatly, a leading global higher education network, announced that it has raised a new round of funding of $2.5 million led by TLcom Capital and Plus VC. The round was also supported by Egypt Venture (Egypt) and HBAN (Ireland). The funding not only underscores the company’s track record but also strengthens 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 help students answer their most important questions about what and where to study to achieve a bright professional future. The platform provides information about all types of schools and universities around the world, as well as various programs and scholarships. Educatly uses advanced artificial intelligence (AI) and large language models (LLM) to ensure the accuracy of the information, allowing students to make informed decisions. Additionally, Educatly helps universities reach and connect with students seamlessly, and the platform currently covers over 1,100 universities in 90 countries around the world.

Engineer Mohmmed El-Sonbaty, Founder and CEO of Educatly, said: “Today’s announcement marks a significant milestone for Educatly. When we first launched Educatly, our goal was to bridge the gap between students’ educational needs and the educational opportunities available to them to match 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 to drive growth and expand 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 COO of Educatly, added: “This fund highlights the potential of educational technology in the region. Since the launch of Educatly, we have been offering a wide range of services and our business model is focused on three main pillars: helping students choose their majors, finding the perfect programs and universities, and connecting with students and alumni around the world. We provide a comprehensive digital map of educational institutions worldwide to help users. We also offer financial support through various installment plans 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 around 7 million by the end of 2024.”

Notably, Educatly has experienced rapid and significant growth, especially after recently announcing that it had secured $1 million in a pre-seed funding round with Enterprise Ireland, Falak Startups, and other investors. The funding comes after the platform launched in late 2020. Additionally, Educatly has R&D centers in Cairo and Dubai with a combined investment of $500,000 annually, aimed at developing a digital platform that meets global standards to enable learners to seamlessly access a variety of customized services.