Saudi Arabia-based customer experience management platform Lucidya has secured $6 million in its second round of funding led by Rua Growth Fund with participation from M.A.L Ventures and AlRashed Group, and other venture capitals.
Lucidya’s solution helps clients to understand and better serve their customers by analysing interactions across different online channels in one platform.
The B2B software as a service (SaaS) company, serves over 100 enterprise customers in more than 6 countries and the funding will be used to expand the company’s product offering to provide a wider range of values to its customers, according to a statement from Lucidya.
The technology solutions from Lucidya comes with proprietary Artificial Intelligence (AI) and Arabic Natural Language Processing (NLP) technologies to capture all interactions, which are then deeply analysed to extract insights that help businesses in making data-driven decisions.
Abdullah Asiri, founder and CEO at Lucidya said: “We are leveraging our Arabic-tailored AI to bridge the gap between businesses and their customers and make customer voices heard loud and clear. This funding will enable us to expand our offering and bring it to more markets, enabling more businesses to reap the benefits of AI-powered Customer Experience Management.”
The global market for marketing technology solutions (MarTech) is estimated to be worth $344.8 billion in 2021.
Existing Lucidya investors also participated in the round, including Venture Souq, the statement said.
(Writing by Seban Scaria editing by Daniel Luiz)
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