UAE startup Educatly, a platform connecting students to global higher education opportunities based out of in5 Tech, a business incubator by TECOM Group PJSC, is implementing a blockchain solution for student data verification, which is essential for them to provide legitimate students records to relevant universities.
As per the announcement, the Blockchain data verification solution is also crucial for foreign students who want to further their education overseas because it might be challenging to obtain original copies of their degrees elsewhere.
In the third quarter of 2022 Educatly’s community of students increased by five times, from 100,000 to 500,000 in the past nine months and represents more than 150 countries and territories.
2022 has been marked by several milestones for the tech start-up, which was founded by former LinkedIn employees in 2020. Educatly has cast a wider net across the higher education industry to feature more than 3,000 universities on its platform and secured active recruitment agreements with 500. It also welcomed Head of LinkedIn’s MENA and EMEA growth markets, Ali Matar, to its Board of Advisors just last month.
Educatly Founder & CEO Mohmmed El Sonbaty stated, “We are thrilled that the global appetite for transnational student education has bounced back since the pandemic. Our unique platform is providing students with the opportunities to study abroad and enroll at leading international universities around the world. We have seen a spike in interest in students joining our platform from the UAE and we are witnessing further growth in Dubai emerging as the next international higher education destination.”
On behalf of in5, Majed Al Suwaidi, Senior Vice President of Dubai Media City, added: “At in5, we seek to foster a thriving community for smart individuals; a space where they can obtain valuable advice from mentors and advisors and transform their aspirations into businesses with sustainable growth. Expanding the reach and influence of start-ups is a top priority – that’s why one of our key goals is to facilitate access to potential investment. We are proud to have Educatly as one of in5 tech’s start-ups as they have demonstrated impressive growth despite launching their business amid a global pandemic. Educatly’s new software-as-a-service (SaaS) demonstrates their strategic alignment with UAE’s Digital Transformation, Sustainability, and other initiatives. Their presence at in5 gives us the opportunity to showcase the diversity of promising start-ups in our city and region, while providing the most extraordinary with a global platform for their unique ideas.”
Educatly’s new software-as-a-service (SAAS) had a helping hand in its growth by increasing the monthly recurring revenue for more than 28% month over month. Its built-in coding and design implements a smart recommendation feature using a special matchmaking algorithm that links students to relevant degrees, universities, and countries according to their requirements.
The system automatically informs the university partners of new leads and profiles to facilitate student recruitment. This unique feature is vital to the networking effect of building Educatly’s social media platform.
