Ogram Secures New Funding Round to Drive Expansion in KSA

by | Jul 23, 2024 | Startups News | 0 comments

Ogram, an HRtech company from the UAE, has raised significant funding for its expansion into Saudi Arabia. The round, led by Oraseya Capital—the venture capital arm of the Dubai Integrated Economic Zones Authority (DIEZ)—also includes Aditum Investment Management and Everywhere VC. Notably, this investment marks a crucial step in Ogram’s growth.

Ogram’s Rapid Growth and Global Expansion

Founded in 2017 by Karim Kouatly and Shafiq Khartabil, Ogram provides a digital staffing marketplace. This platform enables businesses to book and manage on-demand staff efficiently. In 2022, Ogram raised $3 million in a Series A round. This round was led by Modus Capital, Aditum Investment Management, Dtec Ventures, and DAAL VC.

Moreover, Ogram launched in Greece in 2023 and has achieved impressive results. The company experienced triple-digit growth in shifts per month. Furthermore, Ogram has delivered over three million flexible work hours, consistently maintaining over 90% fulfillment rates in both the UAE and Greece.

Focus on Saudi Arabia and Future Prospects

Looking ahead, the new funding will drive Ogram’s expansion into Saudi Arabia. This market shows a high demand for flexible staffing, particularly in retail and hospitality. Consequently, Ogram anticipates over 150% growth in man hours for 2024.

Shafiq Khartabil, Co-founder & CEO, commented, “We’re excited about this support. It will help us expand into KSA and achieve profitability this year.”

In addition, Julien Plouzeau, Senior Partner at Oraseya Capital, remarked, “Ogram’s success in the UAE and Greece highlights their ability to scale. Therefore, we are confident they will replicate this success in KSA and are thrilled to support their growth.”

Looking Ahead: Series B and M&A Activities

As Ogram prepares for its Series B funding round and potential M&A activities in Q4, the company will continue focusing on expanding its footprint. Their mission remains to enhance workers’ lives through flexible staffing solutions.

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