Information on the target
Ostaz, originally founded in Lebanon in 2017 as Synkers, has emerged as a pivotal platform connecting students with qualified private tutors. The company was established by Audrey Nakad, Zeina Sultani, and Sibylle Nakad, with the mission of facilitating academic success through personalized tutoring. Ostaz has successfully built a robust network, amassing over 35,000 learners and 1,000 tutors, thereby establishing itself as a trusted resource for educational support.
The company’s journey was significantly bolstered by its participation in Speed@BDD, a startup accelerator funded by IM Capital, and the Confideo VM mentorship program. These initiatives provided essential resources and guidance that helped Ostaz navigate its early growth stages and secure a $1.8 million Pre-Series A funding round from various investors, including the Business Angels group managed by IM Capital.
Industry overview in the target’s specific country
The education technology sector in Lebanon and the broader Middle East and North Africa (MENA) region has witnessed substantial growth in recent years. The increasing demand for personalized learning solutions and the rise of digital platforms have transformed the educational landscape, making it more accessible and tailored to individual needs. This shift has been driven by a growing population of tech-savvy students and parents seeking effective educational support outside traditional classroom settings.
Moreover, the COVID-19 pandemic has accelerated the adoption of online learning solutions, highlighting the importance of flexible and adaptive educational tools. As schools transitioned to remote learning, platforms like Ostaz became vital in ensuring continuity in education, providing students with access to qualified tutors who could assist them in navigating their academic challenges.
The MENA region is characterized by a diverse educational ecosystem, with various stakeholders, including private institutions, government initiatives, and international organizations, all contributing to the development of innovative educational solutions. This collaborative environment has fostered a culture of entrepreneurship and investment in edtech, positioning companies like Ostaz for significant growth and expansion opportunities.
As Ostaz looks to expand its reach globally following its acquisition by Inspired Education Group, it stands to benefit from the extensive resources and expert…