Saudi Arabia’s technology startup Signit has secured $15 million from various venture capital (VC) firms in the kingdom.

The Series A funding round was led by Riyadh-based Raed Ventures, with participation from STV, Seedra Ventures, Takamol Ventures and Suhail Ventures all part of Saudi Arabia’s venture ecosystem.

The company, which specialises in digital signatures and AI-driven contract management, will use the fresh capital to scale its operations across Saudi Arabia.

Its platform is utilised by businesses and other organisations to sign agreements electronically. It serves hundreds of customers in various sectors, including financial services, healthcare, enterprise and government. 

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com