The next-generation online university platform known as Nexford University recently announced that its Series A capital raise of $8 million had been successfully concluded.
The round was co-led by New Markets Venture Partners and Learn Capital, two leading tech venture capital firms in the United States. Wexford will benefit from its many years of experience as an early investor in some of the most successful tech startups in the world.
Nexford University’s CEO and co-founder, Fadl Al Tarzi, said, “This milestone is more than just money for Wexford. Since we started our Company in 2019, my co-founder and I have seen the world moving toward a virtual grid where people with the right skills can get jobs no matter where they live, what race they are, or what gender they are.
Having such illustrious investors on board as partners presents a one-of-a-kind opportunity to construct a platform shaped by their many years of experience.
Nexford will speed up its quest to become the premier worldwide education-to-employment platform with the assistance of these investors, making it possible for talented people from all over the world to join the global virtual grid.
Other investors include Learn’s Emerging Markets Fund, which is led by the International Finance Corporation (IFC), Bisk Ventures, Global Ventures, Future Africa, the UK-based investment firm AMK Investments, and the Future of Learning Fund.
The money will be used to enter new markets, improve the Company’s technology infrastructure, and add to its academic offerings, such as career pathway programs. This Series A will complement Nexford’s rapid expansion, which is expected to double in 2021, with constant learner satisfaction statistics leading the industry.
The most recent alum poll by Nexford found that 92% of respondents had either achieved or were well on their way to earning a favorable return on their investment in a Wexford education.
Nexford was created to provide students with a fully online, next-generation university experience. The school’s mission is to provide a high-quality education within financial reach to previously underserved English-speaking areas worldwide.
Nexford’s tech-enabled business model enables it to deliver education efficiently without compromising on quality; the average annual tuition for a Master’s degree from Nexford is $2,400, which is a fraction of the average cost of obtaining a Master’s degree in the United States, which is $36,000.
Additionally, Nexford is pleased to announce the addition of Jason Palmer and Greg Mauro to the board of directors of the holding Company. Jason Palmer is a General Partner at New Markets Venture Partners, one of the best education-focused venture capital firms in the US. They focus on high-impact tech companies that improve student outcomes.
Jason has been an entrepreneur, leader, and investor in education technology for the past two decades. Before assuming his present position, Jason held the position of Deputy Director at the Bill & Melinda Gates Foundation. In this capacity, he was responsible for directing the foundation’s efforts to enhance the outcomes of disadvantaged college students through postsecondary innovation.
General Partner at New Markets Jason Palmer said, “Nexford has built an outstanding, mobile-first, online learning platform that has the potential to democratize Masters’s degrees and workforce credentials across Africa by giving flexible, affordable, and career-enhancing options to a rapidly upskilling global workforce.”
Greg Mauro, the founder, and managing partner of Learn Capital, which has the most extensive education technology investment portfolio in the world, is also joining the board. Mauro is a 20-year veteran of the education industry who has been committed to innovation and investment in the field.
Greg previously managed an affiliate of Founders Fund and co-founded multiple venture-backed enterprises. These companies have accumulated over $500 million in venture capital and are utilized by millions of people in the education, telecom, and media industries. Learn Capital’s Managing Partner, Greg Mauro, said, “At Learn Capital, we have a long history of supporting innovative postsecondary institutions that give learners everywhere access to highly effective, career-focused programs.
“The next-generation degrees offered by Nexford give students in developing countries the opportunity to fund their upward mobility by earning highly relevant degrees in cutting-edge fields.
We are excited to lend our assistance to the Nexford team at this momentous turning point in developing the Company’s global and programmatic expansion.”
At a fraction of the cost of its competitors, Nexford’s artificial intelligence-informed curriculum and tech-enabled platform produce learning outcomes that are on par with those expected in US universities.