EGYPT – Sprints, an Egypt-based edtech startup that offers guaranteed hiring programs has secured a US$1.2 million series A funding round to accelerate expansion in the country.
The funding round was led by Alexandria Angels Network as well as participating members of MED Angels and other investors such as AUC Angels, Cubit Ventures, Challenge Fund, EdVentures, Falak Start-ups, and Cairo Angels.
Sprints is the first end-to-end solution to bridge the tech talent gap. Starting from assessing talent pools, delivering a customized learning journey, guaranteeing a top-paying job, and supporting their alumni’s career growth.
The startup is the only EdTech start-up in MEA that offers guaranteed hiring programs. Graduates only pay upon successful hiring in 0% interest payments over three years.
Co-founded in 2019 by Ayman Bazaraa and Bassam Sharkawy, Sprints targets youths between 18 and 35 years of age who want to start or advance their software career in MEA, where the unemployment rate is 31%.
The platform delivers its programs by utilizing a holistic learning approach, which allows learners to meet role-played customers, gather design requirements, and deliver software products on a weekly basis.
This learning experience simulates the significant business environment and acts as a sandbox for learners to acquire both technical and business skills.
Through this distinctive learning journey, Sprints is growing at an exponential rate by leading a new generation of talent to transform the tech industry in MEA.
“I’m very proud to witness the growth rate and achievements of Sprints’ team over the past two years. Together, we succeeded in delivering 20,000 learning experiences, resulting in a more than 80% employment rate,” said Ayman Bazaraa, Co-Founder and CEO of Sprints.
“Over the upcoming three years, we aim to revolutionize the tech sector by upskilling and employing 1m youths.”
Before COVID-19, most start-ups in the North African country did not look different from how they did in the previous decades.
The transformation largely occurred during the Covid-19 pandemic period when the government tightened measures including limiting movements and encouraging virtual meetings in addition to paper transactions.
According to Tarek Al-Kady, Founder and Chairperson of Alex Angels and The Mediterranean Angel Investors, Sprints is an eye-catching example of a start-up that is paving the way for the future of education and job creation in the region.