Moringa School, a Kenyan EdTech startup focused on developing and nurturing high potential individuals in software engineering and other tech-based skills, has raised an undisclosed amount in its pre-Series A round of funding from Proparco (AFD Group).
According to the company's statement, the fresh capital will be used to solidify its expansion to Ghana and soon, Nigeria. It also plans to scale across other African countries in the next 12 months.
Founded in 2014 by Audrey Cheng, Moringa School is a multi-disciplinary learning-accelerator committed to closing the skills-gap in Africa’s job markets by delivering transformative tech-based learning to high-potential jobseekers, and on graduation connecting them to local and international employers who desire high-quality tech talent. The company's vision is to connect its African people to the future they envision for themselves.
Earlier this year, the company announced Snehar Shah as new CEO while also signing a content partnership deal with Flatiron School, a leading US-based educational institution that organizes online and on-campus coding bootcamp.
Commenting on the funding, Chief Executive Officer of Moringa School, Snehar Shah, said:
"The investment comes at an exciting time for Moringa as the institution expands to Ghana and Nigeria. We are keen to leverage on this partnership to train many more students using the leading US Bootcamp’s curriculum from Flatiron School. In line with our vision of a world in which anyone can create their future, we welcome the support of Proparco to make our courses available in new markets in Africa."
The startup has trained over 4,000 students. About 85% of this number have secured jobs in companies across Africa and off the continent including Safaricom, I&M, Andela, Sanlam, Microsoft, Cybertek and Dalberg Data Insights. In 2020, Moringa School was listed among the top 50 EdTech companies in Africa by HolonIQ. The World Bank also cited Moringa School as a leader in the EdTech space following its research into technology boot camps.
Françoise Lombard, Chief Executive Officer, Proparco, added:
"Supporting the African tech ecosystem is one of Proparco’s key priorities. Through our investment in Moringa, Proparco is proud to support an ambitious Edtech in its expansion in Africa and thus contribute to bridging the skills gap that has been affecting the growth of startups on the African continent."
In October 2019, Moringa School had raised an undisclosed amount of funding from DOB Equity, a leading Dutch family-backed impact investor in East Africa.