KSA Cloud-Based Communication Specialist Unifonic Raises $125 Million
The remarkable investment has been led by Japan’s Softbank Group Corp and the Kingdom’s sovereign wealth fund, Sanabil.
Saudi-based communications company, Unifonic, has raised a stunning $125 million investment from Softbank Group Corp, marking the first investment in a Saudi firm by the Japanese conglomerate, partnering with KSA’s sovereign wealth fund, Sanabil, for the fund. After Unifonic’s $21 million fundraise two years ago, the sheer significance of the round could well be the first step for Unifonic becoming a global player.
Ahmed and Hassan Hamdan founded Unifonic in 2006, hoping to create a company that provides cloud-based communication tools to business customers and enables integration of text and voice-based solutions via an API platform. The platform combines cloud-based software, telephone APIs, and real-time data intelligence, effectively eliminating the need for hardware infrastructure.
Unifonic plans to use its new funds to expand its market in the MENA region and Asia, including looking towards acquisitions in those regions to expedite its growth rates. “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,” said cofounder Ahmed Hamdan.
