June 21, 2020 / 6:05 AM / 18 days ago

CORRECTED-STV leads funding for Saudi educational tech firm

(Corrects number of users to six million, not three million, in third paragraph)

DUBAI, June 21 (Reuters) - Noon Academy, an educational technology company in Saudi Arabia, has raised $13 million in a funding round led by Riyadh-based venture capital fund STV, it said.

Noon Academy will use part of the capital in the “pre-B” fundraising to open a hub in London, where its product, design and data teams will be based.

It said it had effectively doubled its user base to over six million during the global coronavirus pandemic.

​Alturki Holding and NFX Ventures also took part in the funding round, it said. (Writing by Alexander Cornwell; Editing by Muralikumar Anantharaman and David Goodman )

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