- UAE-based venture capital firm Global Ventures has led a $10.8 million pre-Series A funding round for US-based digital university Nexford University.
- The round saw participation from Future Africa’s new thematic fund focused on education, angel investors, family offices and VCs from 10 countries including the US, UK, France, Dubai, Switzerland, Qatar, Nigeria, Egypt and Saudi Arabia.
- Launched by Fadl Al Tarzi in 2019, Nexford university was founded with the aim to provide equal learning opportunities for people across the world irrespective of physical location.
- Nexford will use the investment to fuel its regional expansion particularly in Asia, continue building products to upskill learners and expand its B2B offerings.
Nexford University (“the Company”), a next-generation online university based inWashington D.C., 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 byIyinoluwa Aboyeji, the co-founder of Flutterwave and Andela, plus angel investors, family offices and VCsfrom 10 countries including the US, UK, France, Dubai, Switzerland, Qatar, Nigeria, Egypt and SaudiArabia.
The global investor base reflects Nexford’s ambition to build an American university - designed for a global audience.Nexford is a tech-enabled online university. It was founded on two beliefs: a lack of education is the root cause of most world challenges; and people should be able to access economic opportunities irrespective of physical location.
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 65countries. 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.
Nexford’s curriculum is alsospecifically designed to match employers’ needs with its graduates’ skills.The Company leverages machine learning and Artificial Intelligence to create a data and skills-drivencurriculum. Access to Nexford’s quality, yet affordable education, empowers learners with these skillswhich can be deployed immediately, helping to address global unemployment.Nexford’s accredited degrees cost c. $3-4k paid in monthly instalments.
Learners choose when they study, have access to 24/7 support, and graduate at their own chosen speed. The monthly instalment structure means the faster a learner graduates, the less they pay.
In Nexford’s latest learner survey, 98% said they would recommend Nexford to others and 95% said they gained valuable workplace skills.