Rihal Secures ITHCA Funding to Boost SaaS Expansion
▼ Summary
– Rihal has successfully completed the first close of its $15 million Series A funding round, led by a $7.5 million investment from ITHCA Group.
– The company has achieved a remarkable 119% CAGR since its launch in 2021 and expanded across government, logistics, telecom, and oil and gas sectors.
– Rihal employs over 300 professionals, with 80% in technical roles, and maintains a workforce that is 90% local and 43% female.
– The funding will accelerate Rihal’s expansion into regional and international markets to scale its data and AI-driven platforms.
– A second funding close is now open to strategic investors to support Rihal’s mission of simplifying data management and analytics.
Rihal, a prominent force in the Middle East’s technology and data services landscape, has successfully secured the first close of its Series A funding round, with a total target of $15 million. The initial investment of $7.5 million was led by ITHCA Group, signaling strong confidence in Rihal’s strategic vision and impressive growth trajectory. This financial milestone arrives amid surging demand for advanced data solutions across the Gulf Cooperation Council (GCC) region.
Since its seed funding round in 2021, Rihal has achieved a remarkable compound annual growth rate (CAGR) of 119%, expanding its influence across vital sectors such as government, logistics, telecommunications, and oil and gas. The company’s success is driven by a dedicated team of more than 300 professionals, with 80% of employees in technical roles. Notably, Rihal has built a scalable and diverse workforce that is 90% locally sourced and includes 43% female representation, reflecting a commitment to sustainable talent development and operational excellence.
The newly acquired funds will fuel Rihal’s expansion into both regional and international markets, enabling the scaling of its proprietary software-as-a-service (SaaS) platforms and AI-driven solutions. This strategic move aims to address the growing global appetite for sophisticated data management and analytics tools.
Azzan Al Kindi, CEO of Rihal, emphasized that the investment underscores the team’s dedication and relentless focus on sustainable growth. He noted that the continued partnership with ITHCA Group provides essential resources to accelerate global outreach and reinforce Rihal’s leadership in the market.
Said Al Mandhari, CEO of ITHCA Group, praised Rihal’s exceptional performance, rapid scalability, and successful penetration into high-value industries. He expressed confidence that this investment will drive the company to new achievements as it broadens its international footprint.
Ameer Al-Alawi, Director of Asset Management at ITHCA Group, highlighted Rihal’s strong leadership, market traction, and clear vision as key factors that position the company for expansion beyond Oman into the wider GCC region.
This funding round represents a significant milestone for Rihal, enhancing its capacity to advance digital transformation and create high-impact opportunities both locally and abroad. A second close is currently underway, seeking strategic investors who align with Rihal’s mission to deliver enterprise-grade products that streamline data management and empower advanced analytics.
(Source: MEA Tech Watch)
