Unifonic has closed a $125M Series B round led by SoftBank Vision Fund 2 and Sanabil to drive Saudi expansion and international presence
This announcement marks SoftBank’s first direct investment in a Saudi-based company
RIYADH, Saudi Arabia, 15 September 2021
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 organizations to connect with them over a growing number of channels. As newer channels emerge, and user preferences change over time, organizations rely on Unifonic to maximize customer engagement and optimize communication returns on investment.
From SMS for online banking to WhatsApp vaccination requests, Unifonic empowers organizations to transform customer experience while allowing them to focus on core business activities without maintaining costly communication infrastructures.
The round sets a new Series B investment record for technology startups in the Middle East, strengthening Unifonic’s leadership and growth potential in emerging markets. It also marks SoftBank’s first direct investment in a Saudi-based company and further consolidates Sanabil’s ambitions to invest in high-growth, high-impact technology start-ups in the country.
Ahmed Hamdan, founder and CEO at Unifonic highlighted;
“At Unifonic our mission has always been to empower organizations to engage and communicate seamlessly with their customers. I couldn’t be prouder to see our solutions making such a positive impact and reaffirming that mission. This raise is an important milestone in our journey, it will allow us to scale our offerings and expand our reach to enable more organizations to connect with customers reliably and effectively. Our team is our anchor and together we aim to continue this journey and serve our clients in the best ways possible.”
Faisal Rehman, Managing Partner for SoftBank Investment Advisers, said;
“Consumers and businesses are increasingly sophisticated in how they communicate digitally, but this has created fragmentation across multiple emerging channels. Unifonic’s technology manages this complexity into a single platform, enabling enterprise clients to form closer relationships with their customers. Our investment team on the ground in Riyadh has followed Unifonic for some time and we have witnessed first-hand the company’s progress in establishing significant market leadership in the Kingdom of Saudi Arabia. We look forward to supporting the Unifonic team in scaling the platform across the Middle East and other emerging markets.”
A spokesperson for Sanabil Investments added:
“Unifonic is poised to play a significant role in accelerating digital transformation initiatives for public and private enterprise in the Middle East. And so, we wanted to be a part of their journey, resulting in one of our largest investments in a high-growth, high-impact technology company in Saudi Arabia. We believe we can play a significant part in strengthening their strategic position and supporting their future international growth, while aligning with the country’s vision of fostering innovation.”
Less than three years after raising the largest Series A funding round in the Middle East at the time, Unifonic has quadrupled in size and now processes over 10 billion transactions on their platform, annually. Unifonic plans to continue this growth trajectory and will be accelerating product development and hiring in order to expand into new markets around the globe whilst bolstering its leading market share across the Middle East.
Unifonic is a customer engagement platform that enables organizations to delight customers with remarkable omnichannel experiences. By unifying communication channels, messaging apps, and chatbots, Unifonic streamlines conversations at every touch point throughout the customer journey.
Unifonic connects enterprises like Saudi Electricity Company, Saudi Ministry of Health, Absher, Uber, Aramex, Noon, as well as leading banks and financial institutions throughout the region, in addition to health, education, travel, e-commerce, and logistics sectors worldwide.
With proven expertise in emerging markets since 2006, Unifonic is committed to delivering excellence handling 10+ billion annual transactions for millions of recipients in over 160 countries, backed by local corporate presence in four countries and a dedicated team of 200 professionals serving clients 24/7.
About Sanabil Investments
At Sanabil Investments, we identify, invest in, and transform groundbreaking ideas into tangible realities. Since our inception in 2008, we have seen firsthand how bold ideas can disrupt traditional business models; ideas that enable new and improved ways of producing, consuming, and experiencing things. Therefore, we choose to partner with the architects of these ideas. Entrepreneurs who harness the innovations of mind and matter to fulfill significant societal needs in ways that are scalable and sustainable.
Sanabil is a financial investment company, with USD 8 Billion in paid-up share capital. We commit more than USD 1.5 billion in capital per annum into global private investments that include VC/Growth and small buyout assets. We are a dynamic, nimble and highly experienced team of investment professionals. We provide partners with patient capital, the ability to invest across multiple funding rounds, and access to the Gulf Cooperation Council (GCC) ecosystem.
At Sanabil, we invest in great ideas, great minds, and great companies.