Riyadh, Saudi Arabia – Jisr, the largest platform for digitizing human resources operations in Saudi Arabia, has closed an investment round worth 30 million US dollars (SR 112.5 million). This marks the largest Series A investment round for a Software as a Service (SaaS) company in the Middle East. The deal was executed by Merak Capital, a leading investment firm focused on technology opportunities across multiple stages and industries.
Jisr, founded in 2016, stands as the first Saudi human resources management platform, supporting over 3,000 clients with 350,000 registered employees. The company caters to 16 sectors and operates from its offices in Riyadh and Hadhramaut.
Jisr combines all HR operations into one platform, helping organizations grow and innovate by providing the necessary tools to make the most of HR technology.
“We at Merak Capital are delighted to invest 112.5 million Saudi Riyal (30 million US dollars) in Jisr, which is one of the largest SaaS companies that has truly evolved within the Kingdom of Saudi Arabia,” Abdullah Altamami, the Partner and CEO of Merak Capital, said. “Today, Jisr serves over 3,000 clients and manages payroll transactions exceeding 10 billion Riyals across various industries, including government, semi-government, or private sectors.”
He continued, “With the deep expertise and strong vision of the founder Mohammed Akkar Al-Johi and his executive management team, Jisr has established itself as the leader of its market, and we believe it is in the process of creating a major leap in the digitization of human resources in Saudi Arabia by creating the definitive workforce management platform with expanding robust local integrations.”