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Dubai-based payroll and employee data platform firm Cercli has raised USD 12 mn in a Series A round, the firm said in a LinkedIn post. Germany’s Picus Capital led the funding round, marking its first MENA investment, with saw participation from several existing investors including Dubai-based VC fund COTU Ventures and Mehdi Ghissassi from Abu Dhabi’s Advanced Technology Research Council AI71, according to a press release.
Cercli? Founded in 2023 by Akeed Azmi (LinkedIn) and David Reche (LinkedIn), Cercli offers software that streamlines back-office operations, enabling businesses to hire, manage, and pay their workforce through a single platform. Over the past year, Cercli has processed over USD 100 mn in employee salaries across 50 countries for clients, including Abu Dhabi-listed Multiply Group’s Backlite Media, Huspy, and Lean Technologies.
Next up: Funds will be used to develop new AI-driven products as well as work to expand its solutions into a more comprehensive offering for firms.
REMEMBER- In September 2024, Cercli raised USD 4 mn in a seed round led by Afore Capital. Cercli said at the time it would use the funds to scale growth and attract global talent.
IN OTHER STARTUP NEWS-
Dubai and London-based deeptech startup 1001 AI raised USD 9 mn in a seed round led by CIV, General Catalyst, and Lux Capital, according to a press release. Individual backers taking part included Amira Sajwani from UAE-based Damac and Hisham Al Falih from Saudi’s Lean Technologies.
About the firm: 1001 AI was founded by Bilal Abu Ghazaleh (LinkedIn) and uses AI to detect and reduce operational inefficiencies for firms working in the aviation, construction, oil and gas, and logistics industries in the GCC, as well as automate complex workflows.
Where will the money go? The new capital will support team expansion in both Dubai and London, as well as work towards deploying its AI solutions in airports, oil and gas operations, and ports across the Gulf region. 1001 AI plans to onboard its first customer by the end of this year in the construction sector.
