IEG Middle East Advises Ula.me (Jo Academy) on Its Landmark Series B Funding to Power Expansion into Saudi Arabia.
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We are excited to announce that IEG – Middle East has successfully advised Ula.me (formerly Jo Academy), a leading EdTech innovator in the Middle East, on its Series B growth funding round, securing ~USD 28 million to fuel its ambitious regional expansion.
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IEG Middle East provided end-to-end advisory support, leading a highly strategic process that included deal structuring, financial documentation, investor outreach, and roadshow management. Our team played a pivotal role in negotiating investment terms and overseeing the due diligence process, ensuring a seamless and value-maximizing transaction.
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This significant funding round will accelerate Ula.me’s expansion into Saudi Arabia, reinforcing its position as a market leader while also supporting the launch of the region’s first Generative AI-powered EdTech platform—a groundbreaking step toward personalized, AI-driven learning experiences.
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This deal marks a major milestone in the transformation of education technology in the Middle East, and we are proud to have played a key role in making it happen.

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Executive Statements:

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Alaa Jarrar (Founder & CEO – Ula.me):

“This milestone marks a significant step forward in our mission to transform education through innovation and technology. We are committed to providing a customizable, balanced, and technology-enhanced educational experience tailored to the unique needs of students. By addressing the evolving demands of students, parents, and educators alike, Ula ensures that all stakeholders remain aligned with the ever-changing landscape of global education.

We would like to extend our heartfelt gratitude to IEG Investment Banking for their invaluable support throughout the entire process. Their expertise in structuring the deal, managing the investor negotiations, and guiding us through the complexities of the transaction has been instrumental to our success. We look forward to leveraging this capital to fuel our ambitious growth plans and bring our vision for AI-powered education to life.”

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Ala Qumsieh (Managing Director – IEG Middle East):

“We are thrilled to have advised Ula.me on their successful Series B funding round. We believe that their unwavering commitment to innovation and their relentless pursuit of excellence are set to revolutionize education in the region. With personalized, dynamic, and AI-driven learning experiences, Ula.me is positioned to reshape the educational landscape in the MENA region. We are proud to have witnessed firsthand the impact they are making in Ed-Tech and look forward to their continued success.”

Partners:
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‍IEG -Investment Banking Group is a leading global technology investment bank focused on M&A, financing, and asset management. With a local presence in key international growth regions and emerging markets, IEG serves as a unique, influential, and entrepreneurial partner for growth companies and large international corporations. Founded in 1999, IEG has successfully completed over 200 transactions with approximately 50 technology investment bankers worldwide.

Ula.me (formerly Jo Academy) is a pioneering Ed-Tech platform in the MENA region that delivers dynamic, technology-driven learning, with a focus on the active engagement of students, tutors, and content creators. The platform promotes collaborative, interactive, and innovative teaching, acting as a one-stop shop for all academic needs.

Foursan Capital Partners: Established in 2000, Foursan Group isa private equity specialist with a primary focus on the Middle East. Foursan has launched multiple growth capital funds in partnership with leading regional and global investors to invest across a broad range of industries and geographies. investments and portfolio companies have created thousands of direct and indirect jobs across the region including in Jordan, Algeria, Iraq, Morocco, Oman, Palestine, Saudi Arabia, and the UAE

JCIF: Jordan Capital and Investment Fund (JCIF), Jordan’s largest private sector investment fund, invests in promising Jordanian companies that have opportunities for growth and expansion, by providing fresh capital to support a transformational leap in their development. JCIF was officially launched in 2022 with a committed capital of JOD275 million (USD388 million) via two investment vehicles owned by 16 Jordanian commercial and Islamic banks and is managed by the Jordan Capital and Investment Fund Management Company.

Rua Growth Fund: Based in Riyadh, Rua is a VC fund dedicated to investing in visionary founders driving technological innovation in Saudi Arabia and the MENA region. Leveraging strategic partnerships with OBIC and iMENA, Rua provides not only capital but also strategic guidance and industry expertise to help startups scale and succeed. With a deep understanding of the local market and a commitment to fostering innovation, Rua is at the forefront of the tech revolution in the MENA region dedicated to building a vibrant ecosystem where founders can thrive and create a lasting impact

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