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Arabian Business, Monday, Jun 22, 2020 | Zul Qaadah 01, 1441

Saudi education platform raises $13m in latest funding round

Saudi Arabia: Noon Academy, an education technology platform based in Saudi Arabia, raised $13 million in its latest funding round as more students turn to online education amid Covid-19-enforced school closures.

The pre-B funding was led by STV, the venture capital investor that backed Dubai ride-hailing firm Careem Inc. before its sale to Uber Technologies Inc. last year. Alturki Holding and Ahmed El Kalla’s NFX Ventures were part of the pre-B funding.

The initial target was to raise $5m, Noon Academy said in a statement. It had raised $8.6m in series-A funding.

Online education is booming as coronavirus-related lockdowns keep people at home, forcing schools and students to move online.

Noon Academy, which was founded in 2013 by ​Mohammed Aldhalaan and ​Abdulaziz Alsaeed, said since the virus outbreak it added three million students to its platform, doubling its registered users.

“We’re aiming to bring together 50m students and tutors from around the world by 2023,” CEO Aldhalaan said in the statement.

Noon Academy currently operates in Saudi Arabia, Egypt, India and Pakistan, and plans to open a hub in London.

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