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

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, “We are dedicated to helping organisations manage their most valuable assets through digital transformation. With a track record of supporting over 3,000 organisations in managing their human capital. Today, many organisations use multiple platforms for HR management. Our vision from the start has been to bring all these systems together into one unified platform.

“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 enhance every aspect of HR operations, from recruitment and management to payroll processing, all seamlessly integrated with various platforms.

“This partnership with Merak will enable us to build this advanced HR technology system. Our main goal is to make it simpler for organisations to recruit, develop their workforce, ensure wage protection, and beyond.”

Jisr, founded in 2016, caters to 16 sectors and operates from its offices in Riyadh and Hadhramaut.

Its HR technology system combines all HR operations into one platform, providing companies with the necessary tools to make the most of HR technology.