Nexford raises $8 million to scale its online university offering

Oluwajuwonlo Afolabi -

Nexford, an online university based in the US has raised $8 million in its Series A funding round led by New Markets Venture Partners and Learn Capital, edtech investment firms based in the US.

  • As part of the investment deal, Jason Palmer, general partner at New Markets Venture Partners and Greg Mauro, managing partner at Learn Capital will join Nexford's board, the edtech says.
  • The funding will be invested in widening the edtech startup's educational offerings, including career pathways programmes, and enhancing its technology stack, it claims. The fund will also enable the edtech to expand its product base geographically and improve its technology. With existing learning spaces in Nigeria, it aims to launch centres in Kenya and the Philippines.
  • Launched in 2019 by Fadl Al Tarzi, Nexford is increasing relevance and access to education through its varying offerings. It offers self-paced online education focused on learners with contents that are affordable, accessible, and relevant.
  • The edtech offers courses such as bachelor's degrees in business administration, AI and automation, business analytics, advanced AI, e-commerce, and sustainability. It plans to add 6-12 months of on-demand courses in data science, clean energy, digital marketing, and project management.
  • It last raised $10.8 million in its pre-Series A round in June 2021. Learn's Emerging Market Funds managed by the International Finance Corporation (IFC), Bisk Ventures, Global Ventures, Future Africa, AMK Investments, and Future of Learning Fund participated in the Series A funding round of the edtech.