UAE - Mubasher: UAE-based workforce management platform Cercli has secured $12 million in a series A funding round led by Picus Capital, according to a press release.
The fundraising transaction also saw participation from Knollwood Investment Advisory, existing backers Y Combinator, Afore Capital, COTU Ventures, and several angel investors from leading tech companies.
The new funding will drive product development, AI innovation, and expansion across MENA, Europe, and North America.
Cercli will build new AI-native products and expand into adjacent offerings to meet rising demand for all-in-one solutions.
With 22% month-on-month (MoM) growth, the company is targeting the $5.80 billion MENA HR software market, where many enterprises still use outdated systems.
The market is rapidly modernizing, with Saudi Vision 2030 driving over $500 billion in projects needing modern workforce tools.
Akeed Azmi, Co-Founder and CEO of Cercli, said: “For us, it is an exciting time to be building for the AI era, as there is a once in a lifetime opportunity to disrupt the 800 pound gorillas in the ERP market that was long held untouchable by the likes of Workday, SAP and Oracle.”
Over the past year, Cercli has achieved 10x revenue growth, processing over $100 million in salaries across 50 countries.
Its customer base includes Vision Bank, Backlite Media, Global Climate Finance Centre, Huspy, Lean Technologies and Ziina, serving enterprises with workforces ranging from 25 to 1,000 employees.
Cercli’s AI-native platform lets companies move their workforce systems in 48 to 72 hours, versus nine months with legacy providers.
Robin Godenrath. Founding Partner, Picus Capital, stated: “We have seen this business model succeed globally within our portfolio, and we are excited to back Cercli as they continue to grow market share through new customers and product launches."
The deal marks Picus Capital’s first investment in the MENA region, extending its HR SaaS strategy into one of the world’s fastest-growing technology markets.
Picus, which manages over $1 billion in assets, has backed major global players including Personio, Multiplier, Deel, Maki and JetHR.
