Arabnet Arabnet

Saudi Telecom Company and Iris Capital, STC Ventures' Fund Manager, just announced that STC Ventures Fund has recently concluded the acquisition of a significant minority stake in Acadox.

Founded by Mohammad Alhareeqi, Mustafa Nabulsi, and Nedal Mourad, Saudi based Acadox aims to be the educational hub for the Middle East by providing "tools and services to help reach the maximum of the academic goals." The company is also one of the early startup companies that have recently graduated from the New Ventures & Entrepreneurship Program of King Abdullah University of Science & Technology (KAUST).

“The idea started when we saw a need for an efficient tool allowing students to learn on their own terms & timeline,” explains Mustafa Nabulsi, Cofounder and CEO of Acadox. “We knew that the traditional course tools are increasingly irrelevant for today’s students and faculty.”

Acadox provides tools for both faculty and students to manage their academic lives through a web-based platform that facilitates and enhances the learning environment. Services include hosting, security, scalability, and cloud computing.

The company clusters its services under three main categories:

• Acadox for students is a free personal assistant that provides higher quality knowledge and resources, supports informal learning, provides a fun approach to get better grades and opens up more career opportunities.
  
• Acadox for faculty provides tools to help understand students better and create lively interactive classes while saving the time and effort associated with dealing with IT tools.
  
• Acadox for educational institutes enriches academic content and interactivity, provides smarter view over students, the faculty, & content while cutting cost on IT tools.

“The influx of new capital reflects the high potential of Acadox and is a testament to the innovativeness of Acadox’s technology platform, its exciting business potential and the strength of its team." - Teo Uysal, Acting Director of New Ventures & Entrepreneurship at KAUST.