Sprints, an Egypt-based digital talent education business, has secured $3 million in a bridge deal.
The investment, led by Disruptech Ventures and supported by EdVentures, CFYE, and other investors, is intended to propel the startup’s development into ten new markets.
Founded in 2020 by Ayman Bazaraa and Bassam Sharkawy, the firm aims to close the tech talent gap in the MEA area by preparing skilled personnel for the labor market through a guaranteed hiring program.
Speaking about the fundraising, CEO Ayman Bazaraa praised his team, characterizing them as the “beating heart of this success.”
“We are a proud group of dedicated trailblazers, comprising of over 100 employees and 300 trainers from 12 countries, united by a common mission: to revolutionize education through AI.
This investment is a powerful confirmation of the team’s tireless efforts and unshakable commitment.
Today, I am pleased of what we have accomplished collectively and excited about the future we will create together,” he remarked.
Sprints is an artificial intelligence-powered education technology that claims to be changing education for the future.
The founders claim it is the first end-to-end platform to overcome the IT talent gap, offering talent evaluation, personalized learning paths, and a top-paying job guarantee.
The company also claims to be the first edtech startup in the MEA region to provide guaranteed hiring programs, allowing graduates to pay only after successful hiring for three years.
Sprints claims to have given more than 2.5 million learning hours and achieved graduate employment with over 300 tech businesses worldwide since its inception in 2020.
It also claims to be on a mission to educate 1 billion learners in ten years by providing world-class, agile-based learning journeys that enable organizations to build top-tier tech teams in a variety of fields, including but not limited to artificial intelligence, data science, mobile, web, IoT, cloud computing, and security.
The corporation believes that by doing so, it will be contributing to a vital economic and social purpose while also developing a generation of digitally competent individuals who will be able to succeed in the future labor market.
Yehia Abouelwafa, Cofounder and Chief Investment Officer at DisrupTech Ventures, commented on the successful funding round, saying that they are proud of Sprints.ai for decoding the growth dilemma with their all-in-one tech talent platform, which seamlessly integrates talent assessment, hiring, payroll, and upskilling to empower companies and governments alike to build world-class teams more efficiently than ever.
“We are firm believers in Sprints’ mission, and will continue leveraging our 70 years of combined know-how to unleash the potential of regional talent to develop the necessary calibre for digital economies,” he went on to say.
With an average program rating of 4.8, the startup claims to have successfully delivered over 52,000 learning experiences while collaborating with the governments of Egypt, Saudi Arabia, the UAE, the Netherlands, Germany, and the United States, as well as key UN organisations, to implement nationwide initiatives focused on tech talent development and employment.
The company also claims that it has gained international recognition from Africa’s Business Heroes, GSV, and Holon IQ.
The company claims that this strategic bridge financing will boost its growth trajectory as it doubles down on its impact on the tech talent landscape by expanding into ten new markets.
Sprints’ geographical growth will not only bridge the regional talent gap, but will also establish MEA as a regional talent hub, as they intend to equip more than 200,000 learners with the skills and knowledge needed to flourish in the face of tomorrow’s tech workforce issues.
