Nexford University, a U.S.-based online education platform, has raised $8 million in its Series A funding round. The investment was co-led by New Markets Venture Partners and Learn Capital, two leading edtech-focused venture capital firms. Key investors from these firms will also join Nexford’s board to provide strategic guidance.Since its inception in 2019, Nexford has sought to address the gaps in affordability and relevance in higher education. The platform is designed to offer a learner-focused approach to education, equipping students with the skills needed to excel in today’s workforce.
Accessible and Flexible Learning
Nexford provides fully online, accredited degree programs, allowing students to progress at their own pace. The platform’s flexibility has attracted students from traditionally underserved markets, particularly in English-speaking countries such as Nigeria.
To combat challenges like limited internet access and transportation issues, Nexford has collaborated with local partners to create learning spaces in some regions, with plans to expand to Kenya and the Philippines.Nexford’s programs range from bachelor’s degrees in business administration, AI, and product management to graduate courses in advanced AI, e-commerce, and sustainability. The platform also plans to roll out new programs in fields such as software engineering, data science, and clean energy in the coming year.
Introducing Pathway Programs
In addition to degree courses, Nexford is launching pathway programs—short, six-month courses tailored to specific job skills in areas like digital marketing and project management. These programs are stackable, meaning students can transition seamlessly from a pathway course to a degree program if they choose to pursue further education.
“Our pathway programs are designed to give learners the skills they need for specific jobs and can also count towards a bachelor’s or master’s degree,” said CEO Fadl Al Tarzi. “This flexibility enables learners to upskill, enter the workforce, and return for further education as needed.”
Affordable Education for All
Nexford aims to make higher education accessible by offering programs at a fraction of traditional U.S. university costs. Tuition for Nexford’s degree programs ranges from $3,000 to $4,000, compared to the average annual tuition of $36,000 for a master’s degree in the U.S. This affordability makes it an attractive option for students looking for quality education without incurring massive debt.
Measuring Success Beyond Graduation
Unlike many institutions that primarily focus on job placements as a measure of success, Nexford evaluates outcomes based on job promotions, salary increases, and practical application of skills in entrepreneurial ventures. According to the latest data, 92% of Nexford’s graduates report achieving one or more of these outcomes.
Scaling and Sustaining Growth
Nexford has seen significant growth, with student enrollments expanding to over 90 countries. The company also reported a doubling of revenue in 2021, demonstrating strong market demand for its offerings. CEO Al Tarzi highlighted that the company is operating with positive margins, a key indicator of its financial health as it continues to scale operations.By addressing critical challenges in education, Nexford University is positioning itself as a transformative force in the global edtech landscape. Through its innovative approach, the platform is empowering learners to achieve their academic and professional aspirations while keeping education affordable and accessible.
