Home » Saudi-based Unifonic raised $125M led by SoftBank Vision Fund

Saudi-based Unifonic raised $125M led by SoftBank Vision Fund

saudibased 125m series softbank vision fund

Unifonic, a platform for customer engagement, with its headquarters in Riyadh, has completed its $125 million Series B fundraising round. Most importantly, Sanabil Investments and SoftBank Vision Fund 21 jointly led the transaction. Similarly, it boosts the latter’s ambitions to finance high-impact technology companies in Saudi Arabia, and is the former’s first direct investment in a Saudi Arabian company.

In less than three years since receiving a Series A funding round, Unifonic has more than quadrupled in size and its platform now handles more than 10 billion transactions annually. It plans to accelerate product development and hire more employees in order to increase its position in the Middle East and enter new worldwide markets.

Unifonic’s solutions integrate text, voice, messaging, and online consumer contact channels into a single platform. This helps organizations forge strong client connections. According to the statement, Unifonic assists organizations in modifying the customer experience, while enabling them to concentrate on core company activities. They do not have to maintain costly telecommunication services, right from SMS for internet banking to WhatsApp vaccination requests.

According to Faisal Rehman, managing partner of SoftBank Investment Advisers, “Consumers and organizations are getting more sophisticated in how they communicate digitally, yet this has generated fragmentation among numerous developing platforms.” This complexity is managed on a single platform with the aid of Unifonic’s technology, enabling corporate clients to forge closer connections with their clientele.

He added that they are also keen to help the Unifonic team spread the platform across the Middle East and other emerging regions. The goal at Unifonic has always been to assist businesses in successfully connecting with and interacting with customers, as per Unifonic’s creator and CEO, Ahmed Hamdan. He spoke of their vision to see these solutions making a positive difference to companies worldwide.