Nexford University Secures $10.8M pre-Series A funding from Global Ventures And Future Africa.

Washington-based online university Nexford University has secured a $10.8 million Series A funding to scale its flexible remote learning platform.

The round was led by Dubai-based VC Global Ventures and other investors, including Future Africa’s new thematic fund (focused on education), angel investors and family offices. Unnamed VCs from 10 countries, including the U.S., U.K., France, Dubai, Switzerland, Qatar, Nigeria, Egypt and Saudi Arabia, also took part.

To date, Nexford has raised $15.3 million, following the first tranche of $4.5 million in seed funding raised two years ago.

Launched in 2019 by Fadl Al Tarzi, Nexford University is a tech-enabled institution that leverages machine learning and Artificial Intelligence to create a data and skills-driven curriculum.

The online school offers undergraduate degrees in business administration; 360° marketing; AI & automation; building a tech startup; business analytics; business in emerging markets; digital transformation; e-commerce; and product management.

The university was founded on the beliefs that a lack of education is the root cause of most world challenges and that people should be able to access economic opportunities irrespective of physical location.

In a statement, Fadl Al Tarzi said: In 2021, it is not acceptable for less than 10% of the world population to have a college degree or for student debt in the US to be over $1.6 trillion. With additional funding, we can invest in the technology and teams required to address these challenges.

Nexford University has learners from 70 countries, with Nigeria being its biggest market yet. The school also has blue-chip partnerships with Microsoft, LinkedIn Learning, and IBM to access tools, courses, and programs to improve the learning experience.

Also commenting on the round Iyin Aboyeji, CEO of Future Africa, shared: During the pandemic. At the same time, many universities in Nigeria were shut down due to labour disputes. Nexford was already delivering an innovative and affordable new model of online higher education designed for a skills-based economy. Nexford is an absolute game-changer for higher education in Africa. We are excited to make this Future Africa’s first investment out of its soon-to-be-launched fund focused on the future of learning.