Thursday, June 10, 2021 / 04:00 PM / Nexford University / Image Header
Credit: Nexford University
Nexford University ("the Company"), a next-generation online university based in Washington D.C., announces the successful completion of a $10.8 million Pre-Series A funding round. The capital 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. 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 skills. 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. Nexford's curriculum is also specifically designed to match employers' needs with its graduates' skills.
The Company leverages machine learning and Artificial Intelligence to create a data and skills-driven curriculum. Access to Nexford's quality, yet affordable education, empowers learners with these skills which 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.