GoMyCode, a Tunisian edtech startup has secured $850k in pre-series A funding round, with a view to continuing its geographic expansion but also to strengthen its platform.
“As we move forward, we continue to execute on our vision of providing a high-end digital education with a unique learning experience that leaves a positive impact on our students. We are investing significantly in our technology, our team and will subsequently strengthen our operations, ” Amine Bouhlel, Co-founder and COO of GoMyCode said.
Here Is What You Need To Know
- The investment came from Wamda Capital, who is investing for the first time in Tunisia, alongside Jasminium Capital, Meninx Holding and Anava Seed Fund, with Dali Kilani, Bechir Tourki and Houssem Aoudi as business angels.
- With the new funding, GoMyCode will continue to build its vision of significantly impacting people’s lives by providing them with quality digital education.
- GomyCode also wishes, in the long term, to launch its presence on the African and Middle Eastern markets, where 42% of businesses are strongly impacted by digitization and where 65% of workforce does not yet have the requisite skills.
Why The Investors Invested
Wamda Capital is the Middle East and North Africa region’s leading venture capital firm investing in exceptional entrepreneurs. The VC has made has made 67 investments, with their most recent investment being on Sep 21, 2020, when penny software raised $1.4M. This is the first investment the Saudi Arabia-based VC will be making in a Tunisian startup. The VC has also had 2 exits, the most notable exits including Careem and littleBits Electronics.
“At Wamda Capital, we invest in transformational businesses and create meaningful partnerships with entrepreneurs. Our experience in launching and growing MENA businesses, together with a community of experts and mentors at the Wamda Platform, mean our entrepreneur partners are uniquely placed to realize their vision,” the startup noted on its website.
On the other hand, Jasminium Capital is a venture capital fund focused exclusively on Tunisian startups.
GoMyCode funding
Read also: Nigerian Bus-hailing Startup Plentywaka Joins Innoson Vehicle To Explore Nigeria’s South East
A Look At What GoMyCode Does
Launched in 2017 by Yahya and Amine Bouhlel, GoMyCode wants to be the school of the 21st century providing training in web development, web development, video game development, Artificial Intelligence, Data science, UX Design, or even Business Intelligence intended for all. Generally, the GoMyCode educational platform gives students and teachers digital tools for training, content creation, skills management, technical assessment and training, independently on a wide range of skills, thus offering great flexibility to its students.
In addition to Tunis, Sousse and Sfax, GoMyCode is internationalizing by opening its doors in Algiers and Paris, inside the prestigious Station F.
New Hackerspaces will also soon see the light of day in Tunisia with the upcoming opening of ‘a new space in downtown Tunisia, but also in Egypt, Nigeria and Morocco.’
By 2030, the African Venture & Startup Funding Report 2018 estimates that the number of young people in Africa will increase by 42%. This will represent a market of young talents, for the majority unfamiliar with the digital evolution. In total, this market is made of 1.2 billion people, including 700 million under 25 years old.
“We launched this business 3 years ago with an incredible team, and on a very fulfilling, difficult and unpredictable journey. We have built a business, trained more than 5,000 students, opened more than 4 sites, recruited a team of 62 full-time employees, built an educational platform and have and have had a strong impact on people’s lives,’’ co-founder Yahya Boulel said.
The startup also secured support from USAID in the launching launch the program, “Reskill, Upskill,” an initiative intended to fight unemployment in Tunisia. The program seeks to help 2,000 young graduates actively seeking employment to benefit from a 4-month training course guaranteeing their professional integration into innovation professions.
“We continue day after day to develop our training offers by adapting to market demand, particularly to our network of partner companies. This matching between the training provided at GoMyCode and the demand on the employment market is very important for us, because beyond training, we really aimed to have a positive impact in the fight against unemployment by preparing as well as possible, young people — like the not so young — generations for the jobs of tomorrow, “concluded the CEO of GoMyCode, Yahya Boulel.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer