Saudi Arabia’s trailblazing HRtech firm, Jisr, has successfully raised $30 million in a series A funding round, marking a significant milestone in the Middle East’s software-as-a-service (SaaS) sector. The funding was led by Merak Capital, a Saudi-based venture capital firm.
Founded in 2016, Jisr has become a leader in HR management, serving over 3,000 clients across 16 different sectors. This substantial investment will bolster Jisr’s operations and support its expansion into new business verticals.
Jisr’s founder, Mohammed Al-Johi, sees this funding as an opportunity to redefine HR software, emphasizing that their focus is now on building an ecosystem around employees. “With this investment, we will speed up delivering our mission of building the HR ecosystem for small and medium enterprises in the region, it will help us serve more customers and improve their productivity when it comes to managing their people,” he shared.
Abdullah Al-Tamimi, partner and CEO of Merak Capital, echoed this vision, emphasizing the importance of integrated solutions for businesses. He stated that Jisr’s role as a pioneer in the market positions it to drive innovation and expand its product offerings.
As Jisr continues to lead the HRtech sector in Saudi Arabia, it also plans to introduce fintech solutions and new products in the near future. With 350,000 registered employees already using the platform, Jisr aims to triple its user base in the coming years. The company’s ambitious growth plans align with the overall expansion of Saudi Arabia’s SaaS market, projected to reach $519 million by 2028. Merak Capital, with its deep expertise in SaaS, remains committed to investing in various SaaS verticals and promoting locally integrated products.
Jisr’s journey is characterized by innovation and transformation, poised to shape the HRtech landscape in Saudi Arabia and beyond.