Education technology has been steadily gaining traction over the last few years, and Noon, an EdTech startup based in Saudi Arabia, is at the forefront of this revolution. The company recently announced that it has successfully raised $41 million (SAR 153 million) in its Series B funding round, led by Wa’ed Ventures and Raed Ventures.
Noon provides peer-to-peer social learning for students in the MENA region. Founded in 2013 by Mohammed Aldhalaan and Abdulaziz Alsaeed, the platform allows students to engage with lecturers in real-time, join study groups, and participate in courses. Noon has served more than 12 million students across Saudi Arabia, Iraq, Egypt, and Pakistan, and is now looking to support 190 million students in these markets.
Speaking about the company, Co-founder & CEO Mohammed Aldhalaan said: “We exist to change how people learn radically. As we extend our presence into physical classrooms, our goal is to introduce unparalleled engagement levels within the classroom while providing students with the opportunity to learn from exceptional educators.”
The company aims to enhance the traditional classroom experience by bringing its tried-and-true methodology into physical classrooms. The funds raised will also be used to take advantage of the latest developments in generative AI, and Noon is well-positioned to achieve this goal.
Commenting on the fundraising, Fahad Alidi, Managing Director at Wa’ed Ventures said: “Noon has become one of the very few emerging companies to establish a lasting impact on the regional startup ecosystem by being both a successful business model in a typically challenging sector and a trustworthy agent of change.”
Raed Ventures Founding Partner Omar Almajdouie added: “We’re proud to double down on our investment in Noon and co-lead its Series B Round. The company has built an exceptional platform experience for students and teachers that delivers new approaches to learning and has demonstrated the ability to scale in various markets across multiple geographies.”
By incorporating AI-powered solutions into their platform, Noon is well-positioned to provide personalized learning experiences and identify knowledge gaps. The company is now looking to expand internationally in the next two to three years, offering a high-quality education to students all over the world.
