Founded in Lebanon in 2017 as Synkers, by Audrey Nakad, Zeina Sultani and Sibylle Nakad, the company connects students with the most relevant, trusted and qualified private tutors to help them complete their learning goals and supports them throughout their academic journey starting from school (8+ curricula) to official exams (Baccalaureate, IB, A-levels, SAT, IELTS and more) and college admission.
The successful journey of Ostaz started in Lebanon when the team joined Speed@BDD, a Beirut-based startup accelerator. Following its graduation from Speed@BDD’s acceleration program in July 2017, Ostaz closed a seed funding agreement with Phoenician Funds. The investment provided Synkers with the opportunity to build a stronger product and scale its seamless technology in Lebanon and across the UAE.
By September 2020, the Lebanese-based start-up had already acquired over 35,000 learners and 1,000 tutors and successfully raised a $1.8M Pre-Series A funding round, led by Dr. Lama and Dalia Al Sulaiman. 500 Startups, Phoenician Funds, ISME Kafalat, Mulcan International, Seeders, CE-Ventures , and Dubai Angel Investors.
The recent acquisition comes at a pivotal time for the education industry, with an increasing adoption of online learning, as it offers flexibility, accessibility to global subject matter experts, along with affordable and convenient solutions for private tutoring.
Ostaz has so far concentrated its efforts in the Middle East and North Africa (MENA) region, where it has partnered with leading educational institutions and will now seek to expand globally by leveraging Inspired presence around the world.
Audrey Nakad, Co-Founder & CEO of Ostaz added: “We are excited that Inspired is now our partner and will invest in the future of Ostaz. However, this would not have been possible without the support of our investors who believed in us from the start and offered us their full support amidst the most critical circumstances. I would like to thank each and every one of them not only for their funds but also for their guidance and patience.”