Jisr, a leading HR tech platform based in Saudi Arabia, has secured $30 million in investments in a Series A funding round led by Merak Capital.
This marks the largest Series A investment ever for a Middle East SaaS company, reflecting extraordinary confidence in the HR Tech company's growth and expansion in KSA.
Founded seven years ago, Jisr has been a leader in HR Management and HR Tech solutions in the MENA region, by supporting over 3,000 organizations in various sectors. It operates from offices in Riyadh and Hadhramaut, offering modern HR technology solutions to organisations to optimize their human capital.
Closing the investment deal, Abdullah Altamami, the Partner and CEO of Merak Capital, commented, "We at Merak Capital are delighted to invest SAR 112 million ($30 million) in Jisr, one of the largest SaaS companies to have truly evolved within the Kingdom of Saudi Arabia. Today, Jisr serves over 3,000 clients and manages payroll transactions exceeding SAR 10 billion across various industries, including government, semi-government, and the private sector."
Extending his wishes to Mohammed Akkari Al-Johi, Founder and CEO of Jisr, Altamami said, "With the deep expertise and strong vision of founder Mohamed Akkar Al-Johi and his executive management team, Jisr has established itself as the leader in its market. We believe it is in the process of creating a major leap in the digitization of human resources in Saudi Arabia by developing the definitive workforce management platform with expanding robust local integrations."
Al-Johi added, "At Jisr, we are dedicated to helping organizations manage their most valuable assets through digital transformation. With a track record of supporting over 3,000 organizations in managing their human capital, many organizations today use multiple platforms for HR management. Our vision from the start has been to bring all these systems together into one unified platform. Through Merak's investment in Jisr, our goal is to advance modern HR technology systems. We aim to achieve this by developing products that enhance every aspect of HR operations, from recruitment and management to payroll processing, all seamlessly integrated with various platforms. This partnership with Merak will enable us to build this advanced HR technology system. Our main goal is to make it simpler for organizations to recruit, develop their workforce, ensure wage protection, and more.”