Saudi Jisr successfully closes $30m investment round by Merak Capital

Saudi Jisr successfully closes $30m investment round by Merak Capital

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Jisr, a platform that digitises human resources operations in Saudi Arabia, has closed an investment round worth $30m (SAR112.5m).

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, a leading investment firm focused on technology opportunities across multiple stages and industries.

Abdullah Altamami, the partner and CEO of Merak Capital, shared his thoughts on this investment round, said: “We, at Merak Capital, are delighted to invest 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 SAR10bn 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 digitisation of human resources in Saudi Arabia by creating the definitive workforce management platform with expanding robust local integrations.”

Jisr: Supporting companies with digital transformation

Mohammed Akkari Al-Johi, founder and CEO of Jisr, stated,