Jordan’s Abwaab raises $20 million Series A round
- Jordan-based e-learning platform Abwaab has raised $20 million in a Series A funding round, led by existing investor BECO Capital (UAE) and joined by 4DX Ventures (US), GSV Ventures (US), Watar Partners (KSA) and others.
- Founded in late 2019 by Hamdi Tabbaa, Sabri Hakim, and Hussein AlSarabi, Abwaab is an e-learning platform directed at secondary school students, offering content tailored to local curricula to fill the gaps in educational resources available online.
- Abwaab claims to have grown by 10x in the number of active users throughout the 2020/21 academic year. It has expanded its services to Egypt and Pakistan through acquiring the Pakistani edtech startup Edmatrix after raising $5 million in its Seed round earlier this year.
- The new investment will be used to fuel its expansion plans.
The Jordan-based EdTech and online learning platform Abwaab has successfully raised $20M in its latest funding round. The Series A funding round was led by existing investor BECO Capital (UAE) and joined by 4DX Ventures (US), GSV Ventures (US), Watar Partners (KSA) and others.
Founded in late 2019, by Hamdi Tabbaa, Sabri Hakim, and Hussein AlSarabi, Abwaab positions its platform at secondary school students, offering content tailored to local curricula to fill the gaps in educational resources available online. Through Web and native apps, students participate in lessons, get feedback, and join discussion boards making alternative education highly accessible while tackling the region’s high dependence on offline tutoring.
Since its launch, the Jordan-based edtech has expanded from Jordan into Egypt and Pakistan, and following a $5 million seed round in March of this year, this investment puts Abwaab as one of the most-funded regional edtech startups across MENAP, a region that encompasses 160 million students. Abwaab has experienced strong growth during the pandemic-halted lockdown where children were unable to attend normal schooling.
Hamdi Tabbaa, Abwaab’s Co-founder & CEO highlighted “Our mission since inception has been to make learning more accessible, affordable, and fun, by building a comprehensive ecosystem that changes the way students learn, while also equipping them with the tools needed to get ahead in life.”
Peter Orth, Managing Partner at 4DX Ventures added “We believe very much in Abwaab’s mission to make high quality, outcome-driven education more affordable and accessible, and we believe that they are poised to become dominant in the MENAP region.”
In Jordan, where it has an active freemium subscription model, students are paying a one-off subscription to unlock access to the platform for the whole academic year. Abwaab stated that it has grown by 10x in the number of active users throughout the 2020/21 academic year.
With the acquisition of Pakistani edtech startup Edmatrix, Abwaab is competing on a regional level offering micro-lessons that match every country’s national curriculum in bite-sized content, test preps, and assessment, and extremely affordable annual subscriptions. The Jordan-based edtech plans on channelling its newly acquired funds to continue its expansion into new markets.
BECO Capital’s Abdulaziz Shikh Al Sagha concluded “Abwaab is on a clear path to establishing themselves as market leaders within the region and we are proud to have had the chance to further deepen our partnership with Hamdi, Sabri, Hussein, and the whole Abwaab team.”