Bahrain-based Employee Training Platform Lumofy Raises $500k From Hope Ventures, Others
Lumofy, a Bahrain-based EdTech startup that provides employee training and targeted capacity-building announced that it has raised $500,000 in funding round led by several investors, including Hope Fund, JEO Capital Management, and the two angel investors, Yaser Alghamdi and Abdulrahman Al Jiffry.
Founded in 2020 by Ahmed Faraj, Lumofy helps organizations deploy the competency-based learning platform to map competencies, assess skills, accelerate personal development, and aligning the learning and development with the organization’s strategic priorities. The startup prides itself on offering edua data-backed digital learning platform with a unique methodology and approved scientific approach that resonates with the new world of work.
Lumofy is on a mission to provide competency-based learning experience dedicated to striving leadership traits, leading managerial skills, improving employees’ competencies, and uplifting intuitive minds through an effective application and integration of the instructional interactive platform with continuous deployment of innovative emerging technologies.
Commenting on the funding, Founder and CEO of Lumofy, Ahmed Faraj, said, “This investment will enable us to take important steps impacting the modern technology and EdTech industry. it will allow us to reinforce our growth significantly during the upcoming period to expand the business regionally and globally while ensuring sustainable growth.”
The company aims to lead transformative change across diverse learning environments to unleash, excel and maintain human potentials. Lumofy empowers the creation of a revolutionary lifelong learning journey to inspire people with dynamic future capabilities.
General Manager of Hope Ventures, Fajer Alpachachi, reflected on the funds’ first growth investment, saying, “Lumofy uses proprietary technology to solve a challenge that all large corporations face providing employees with targeted training based on individual needs. Lumofy team has been able to solve an ongoing problem and have proven the platforms’ effectiveness through their impressive portfolio of clients. By co-investing in Lumofy alongside the private sector, we trust that we will be able to jointly support in the acceleration of the business.”
Lumofy team has achieved growth in the region through partnering with leading governmental and private organizations. The platform was recognized as one of the 50 most promising EdTech Startups in the Digital Training industry on HolonIQ’s annual list in the Middle East and North Africa.
In the near future, Lumofy is keeping an eye on growing the number of learners on its platform by ten times, all while expecting to expand toward new countries.
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