Unifonic, a Saudi company specializing in cloud communications, has announced the successful completion of a Series A round that added $21 million to its funds. Led by STV, the round also saw contributions from Raed Ventures, Endeavor Catalyst, ELM, and Riyad TAQNIA.
Co-founded by Ahmed and Hassan Hamdan, Unifonic is a relatively familiar name in the cloud industry — especially in the Middle East. The company has been around for more than 10 years and is deemed one of the leading providers of API-powered SMS and voice services. Because of its market reach and affordable packages, Unifonic is often dubbed the Twillo for emerging markets.
Speaking of the rich offering by the company and its future potentials, Abdulrahman Tarabzouni, CEO of STV, said: Unifonic is a great example of the type of founder-driven, capital-efficient business we want to invest in. It has rapidly developed a leadership position in the fast-growing cloud communications market,” said Abdulrahman Tarabzouni, CEO of STV. “The founders have created a profitable and growing technology company, and we look forward to working together to take this to the next level.”
According to the Unifonic website, the company currently serves more than 5,000 clients including some corporate heavyweights such as the Arab National Bank, HSBC, Careem, Uber, Toyota, Avon, Samsung, FedEx, Bank Albilad, Alinma Bank, and Easy Taxi, to name a few.
The company has offices in multiple global cities including Riyadh, Cairo, London, and San Francisco. Unifonic plans on using the newly raised funds to accelerate the company’s growth and expand its portfolio of cloud-powered communications solutions.