Saudi Arabian start-up ZenHR is set to scale up its operations in the region after raising $10 million in a new funding round.
The funding is led by Riyadh-based venture capital firm Rua Growth Fund, with participation of existing funds and investors, including Endeavor Catalyst.
The start-up offers a cloud-based human resources management system for companies in the region. It has presence in 12 markets in the Middle East and Africa, including Saudi Arabia, UAE, Egypt, Qatar, Kuwait, Bahrain, Oman, Iraq, Jordan, Lebanon, Yemen and Palestnine.
In a statement, ZenHR said it will use the new capital to scale up its presence in all 12 markets in the region.
ZenHR currently has 100,000 users and 1,000 customers in the Middle East and North Africa region. Its subscription revenues have tripled since inception.
(Writing by Cleofe Maceda; editing by Seban Scaria)