GOMYCODE Raises $8M in Series A with Wamda Participation

0
  • Wamda has invested in the $8m Series A of Tunisia-based edtech GOMYCODE, led by Proparco and AfricaInvest in France through the Cathay AfricInvest Innovation Fund (CAIF).
  • Founded in 2017 by Yahya and Amine Bouhlel, GOMYCODE offers a wide range of creative and technical courses ranging from coding, data analysis, digital marketing and web development to content creation. It also matches interns on its website with potential employees.
  • GOMYCODE currently operates in eight countries in the Middle East and Africa (MEA) region.
  • The funding will allow the startup to expand its operations in existing markets as well as venture into new markets across MEA.

Press release

Tunisian edtech startup GOMYCODE recently closed an $8 million Series A funding round led by AfricInvest, through the Cathay AfricInvest Innovation Fund (CAIF), and Proparco; Wamda Capital also continued to invest, having invested in the Seed funding round. The funds will help carry out the startup’s mission to democratize technology education in the MEA (Middle East and Africa) region.

GOMYCODE started in Tunisia and is now present in eight countries across MEA. Every month, more than 1,000 new students enroll in one of GOMYCODE’s 30 training courses with the aim of acquiring in-demand digital skills. The company’s mission is to bridge the skills gap between the existing educational infrastructure in MEA and the digital skills needed in today’s global job market. The startup will open 50 new locations in 12 countries in MEA by 2024. “We are meeting demand that almost no other company captures at our scale,” said Yahya Bouhlel, CEO and co-founder of GOMYCODE.

“Traditional local training centers offer outdated content and methodology, and international online players find it difficult to enroll African students, due to their lack of understanding of local markets and unaffordable prices. coeducation, we teach in twelve local languages ​​and we “position ourselves as a regional leader. I want to thank our investors for believing in what we’re doing, and I’m excited for what’s to come.”

A unique blended education model “This fundraising will allow us to continue to fulfill our mission to build a sustainable, scalable and affordable educational platform in the Middle East and Africa”, explains Amine Bouhlel, co-founder and COO of GOMYCODE . “We operate in a region where 50% of young graduates are unemployed because university programs fail to provide the digital skills needed in today’s job market. Population growth is far outpacing the existing educational infrastructure, and there is a vibrant youth eager to learn and acquire new skills. GOMYCODE provides a solution through the innovative combination of an e-learning platform, instructor support and physical centers, which makes us relevant and efficient. »

GOMYCODE courses use an innovative blended education model: a combination of instructor-led training and self-directed active learning, designed to challenge students with clear checkpoints while giving them the flexibility to learn content at their own pace. This blended model effectively teaches students the skills most in demand in the job market, offering over 30 learning tracks, ranging from web development to digital marketing, data science to artificial intelligence, in addition to be affordable and accessible to all. GOMYCODE has successfully placed 80% of its students through a work placement program and facilitated career changes, upward mobility and diversified sources of income for thousands of graduates. Greater presence in Africa and the Middle East With seed funding from investors like Wamda capital and Flat6labs etc – USD 850,000 in October 2020 – GOMYCODE opened in Morocco, Egypt, Ivory Coast, Senegal and Nigeria.

The Series A funding will drive the startup’s presence in twelve countries, including South Africa, Kenya, Ghana and Saudi Arabia, and expand its presence in countries where it already has a presence, including two of the largest major African markets: Egypt and Nigeria by 2024.

Khaled Ben Jilani, Senior Partner at Africinvest, added: “We are delighted to be part of this incredible journey with the GOMYCODE team. And we are proud to see them grow in this new phase of their development. The model they have built – scalable, affordable and highly relevant – solves one of Africa’s most complex and important problems.

The edtech market is untapped in Africa, and solutions like GOMYCODE will have a huge positive impact on everyone in the tech and education ecosystem.

Fadi Ghandour Founder of Wamda Capital “After meeting Yahya and his team during a visit to Tunis a few years ago, I knew we had to invest in the company and be part of the story of preparing and training students for the future of work in a very innovative and relevant way, we are proud to continue to invest in GOMYCODE”

Khaled helioui, investor and board member “In just a few years, GOMYCODE has grown from a small bootcamp of 15 students coming out of a coworking space in Tunisia to the fastest growing education platform, training thousands of people on the continent, providing a platform for young men and women to pursue careers in technology. It is hard to imagine the impact GOMYCODE is having locally, training over ten thousand students to date, and l “elegance of their model now allows them to expand sustainably into neighboring countries to address Africa’s talent shortage. What Yahya and the team are doing is setting a precedent on the continent of what can be done and what young people must indeed be trustworthy and empowered.

Share.

About Author

Comments are closed.