Bayzat targets becoming Middle East leader in HR and InsureTech following $25mln Series C round led by DisruptAD

Bayzat targets becoming Middle East leader in HR and InsureTech following $25mln Series C round led by DisruptAD

- Funds will be used to accelerate company expansion in the Middle East with a focus on Saudi Arabia

Dubai, United Arab Emirates: Bayzat, the region’s leading employee benefits platform, has successfully closed a Series C funding round, raising USD 25 million. The funding round was led by DisruptAD, ADQ’s venture platform, alongside Ischyros New York, a global hedge fund. To date, Bayzat’s has raised more than USD 60 million in funding by receiving backing from leading investors such as Mubadala Capital, and Point72 Ventures.

Founded in the UAE in 2013, Bayzat is a technology company that helps organisations deliver world-class employee experiences by automating and enhancing their insurance, payroll, and HR administration processes. Over the past three years, the company has recorded more than 100 per cent annual growth and has grown its workforce to almost 350 employees across the UAE, Saudi Arabia and the wider region.

From the pivot to hybrid work and the globalisation of the talent pool, to the influx of millennials and Gen Z professionals into the workforce, Bayzat now sees its value proposition being more relevant than ever. “In today’s economic climate, employee experience is a business imperative and organisations can no longer pay lip service to