Saudi startup Unifonic raises $125m

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  • The Series B funds will be used to grow Unifonic’s platform in the Middle East, and further expand to Africa and Asia
  • The news of the deal was out in June, but it was confirmed on Wednesday only, making it the first investment of SoftBank in a Saudi startup.

Unifonic, the customer engagement startup, has succeeded in raising $125 million in its latest funding round led by SoftBank and a unit of the Public Investment Fund.

The news of the deal was out in June, but it was confirmed on Wednesday only, making it the first investment of SoftBank in a Saudi startup.

The Riyadh-based startup provides messaging, voice, and WhatsApp communication services to companies who want to engage with customers.

“From SMS for online banking to WhatsApp vaccination requests, Unifonic empowers organizations to transform customer experiences,” it said in a statement.

It claims to support businesses by providing a cost-effective communication infrastructure.

The Series B funds will be used to grow Unifonic’s platform in the Middle East, and further expand to Africa and Asia. It also plans to acquire companies in these markets.

“This raise is an important milestone in our journey, it will allow us to scale our offerings and expand our reach to enable more organizations to connect with customers reliably and effectively,” its founder Ahmed Hamdan said.

PIF unit Sanabil also took part in the funding round.

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