Saudi’s Unifonic raises $125 million Series B from Softbank and Sanabil

Saudi’s Unifonic raises $125 million Series B from Softbank and Sanabil

Saudi Arabia-based engagement platform Unifonic has raised a $125 million Series B round led by Softbank Vision Fund 2 and Sanabil. 

The investment marks Softbank’s first direct investment in a Saudi-based startup and its second in the Middle East after Kitopi.

Founded in 2006 by Ahmed Hamdan and Hassan Hamdan, Unifonic’s technology integrates customer communication channels including text, voice, messaging and web into a single platform to enable companies to communicate directly with customers. 

The startup raised $21 million in its Series A round in 2018 and has since quadrupled in size, processing more than 10 billion transactions on its platform, annually. 

This latest round of investment will fund Unifonic product development and hiring in order to expand into new markets around the globe. 

Press release:

Unifonic, the Riyadh headquartered customer engagement platform, today announces its $125M Series B funding round, led by SoftBank Vision Fund 2 and Sanabil Investments. Unifonic’s solutions integrate customer communication channels including text, voice, messaging and web into a single platform to enable companies to create stronger customer relationships. 

Consumers expect brands, governments, banks and organisations to connect with them over a growing number of channels. As newer channels emerge, and user preferences change