The online education platform, Noon Academy, has obtained series A funding worth $8.5m, only six months after expanding in the local market. The investment is the largest series A funding for a distance learning platform in the Middle East.
Noon Academy is a learning platform which includes a mobile application and a website for teaching academic curricula. It provides online classes for elementary, preparatory and secondary levels in all subjects.
In a press release, the company said that it had partnered with the Saudi government to reach 3 million students in the Saudi Noon Academy over a period of four years. This comes in addition to a partnership with the Takaful Foundation, participating in a community role in the education of the less fortunate.
Noon Academy launched its services on the Egyptian market in February 2019, initially reaching out to preparatory and secondary levels in Arabic.
As part of its services due to the coronavirus (COVID-19) pandemic, Noon Academy is providing content from primary to secondary levels in both Arabic and English. The company will further expand to provide university lessons in the coming period.
The company has attracted about one million students across Egypt so far through its online platform, with plans to double the number in the next academic year.
Since its launch, Noon Academy has expanded its educational services to new markets, including Jordan, Oman, Kuwait, and Iraq. The company also intends to expand in other Arab countries during the coming period, with further details on these plans to come soon.