Saudi Jisr closes $30 Million Investment Round by Merak Capital

Jisr Company has closed an investment round worth 30 Million US Dollars (112.5 million SR). This marks the largest Series A investment round for a Software as a Service (SaaS) company in the Middle East. The deal was done by Merak Capital.

In a statement to Argaam Jisr said this investment underscores the investors' high level of confidence in Jisr's growth and its commitment to advancing modern HR technology, expanding its product offerings, and supporting organizations in optimizing their human capital.

Jisr, founded in 2016, stands as the first Saudi human resources management platform, supporting over 3,000 clients with 350,000 registered employees. Jisr caters to 16 sectors and operates from its offices in Riyadh and Hadhramaut.

Jisr's HR technology system is a game-changer in the Middle East and North Africa. It combines all HR operations into one platform, helping organizations grow and innovate by providing the necessary tools to make the most of HR technology.

Abdullah Altamami, the Partner and CEO of Merak Capital, shared his thoughts on this investment round, saying, "We at Merak Capital are delighted to invest SAR 112 million (30 million US dollars) in Jisr, which is one of the largest SaaS companies that has 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, or private sectors."

He continued, "With the deep expertise and strong vision of the founder Mohamed 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."

Mohammed Akkar Al-Johi, Founder and CEO of Jisr, stated, "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. Today, many organizations use multiple platforms for HR management. Our vision from the start has been to bring all these systems together into one unified platform."

He continued, "Through Merak's investment in Jisr, our goal is to advance the modern HR technology system. We aim to achieve this by developing products that contribute to every aspect of HR operations, from recruitment and management to payroll processing, all seamlessly integrated with various platforms. Our main goal is to make it simpler for organizations to recruit, develop their workforce, ensure wage protection, and beyond.”

Source : Arqaam