Nexford University announces the successful completion of a $10.8 million Pre-Series A funding round. Thecapital raise was led by Global Ventures, the UAE-based venture capital firm. Participating investors included Future Africa’s new thematic fund focused on education, which is led by Iyinoluwa Aboyeji, the co-founder of Flutterwave and Andela, plus angel investors, family offices and VCs from 10 countries including the US, UK, France, Dubai, Switzerland, Qatar, Nigeria, Egypt and Saudi Arabia.
From inception, the Company’s founders’ vision was of a world moving towards a virtual talent grid. As internet connectivity increases worldwide, the only barrier to accessing economic opportunity should be skilled. The right skills should provide access to this talent grid.
Nexford will use proceeds to fuel its regional expansion plans particularly in Asia, continue building products to deliver skills employers are looking for, and expand its B2B offerings. With employer funded education already accounting for a large percentage of Nexford’s revenue, the university aims to expand its offering to meet rising needs for re-skilling and up-skilling in a post-pandemic workplace.
Launched in 2019, Nexford’s revenues in 2020 grew by 300%, with learners enrolling from over 65 countries. Nexford also has blue-chip partnerships with Microsoft, LinkedIn Learning and IBM to provide access to tools, courses and programmes to enrich the learning experience.
