Saudi Tech Startup Lucidya Raises US$6 Million To Fund Its Expansion Across The MENA Region – Entrepreneur

Saudi Tech Startup Lucidya Raises US$6 Million To Fund Its Expansion Across The MENA Region – Entrepreneur

Saudi Arabia-based tech startup Lucidya has raised US$6 million in its latest funding round led by Rua Growth Fund, with participation from MAL Ventures and AlRashed Group, and other international venture capital firms. Existing investors also participated in the round, including VentureSouq.

Founded in 2016 by Abdullah Asiri, Lucidya is a social media analytics and monitoring tool geared towards Arabic brands, powered by artificial intelligence (AI) and natural language processing (NLP) technologies. The platform offers in-depth monitoring across websites, blogs, and forums, as well as evaluates interactions in English and all Arabic dialects, and generates insights for brands by analyzing customer data across all social media platforms. As a B2B software-as-a-service platform, Lucidya’s solution aims to help brands in making data-driven decisions.