Ogram, a human resources technology company based in the United Arab Emirates, has successfully closed an expansion funding round with plans to expand into the Saudi Arabian market. The round was led by Oraseya Capital, the venture capital arm of the Dubai Integrated Economic Zones Authority, marking their second investment in Ogram. This investment reflects confidence in Ogram’s vision and growth potential in Saudi Arabia. The round also saw participation from Aditum Investment Management and Everywhere VC.
Founded in 2017 by Karim Kouatly and Shafiq Khartabil, Ogram is a leading provider of flexible employment solutions, offering a marketplace platform that enables companies to hire on demand.
Ogram has demonstrated its commitment to creating a new flexible workforce by achieving three million flexible work hours for its growing community. The company has exceeded 90% fulfillment rates in both the UAE and Greece, showcasing its reliability and efficiency in these markets. In the UAE, Ogram has consistently doubled the number of work shifts each month, underscoring its significant market share. Since launching its services in Greece in 2023, the company has seen triple-digit growth in monthly shifts, highlighting its rapid and successful strategic expansion into new regions.
These achievements underscore Ogram’s pivotal role in helping companies reduce costs through a flexible employment model, particularly in sectors with seasonal demand, while empowering thousands of workers to control their work schedules. As it prepares to enter the Saudi market, Ogram anticipates exceptional year-on-year growth of 150% in work hours for 2024.
Shafiq Khartabil, Ogram’s co-founder and CEO, said, “We are excited to secure this funding round with such esteemed investors, reflecting the strong demand we are seeing in the retail and hospitality sectors. This funding will not only support our expansion into Saudi Arabia but also drive us toward profitability this year.”
Julien Plouzeau, Senior Partner at Oraseya Capital, added, “The on-demand employment market is evolving rapidly, and Ogram is at the forefront of this transformation. We are particularly impressed with their ability to provide much-needed solutions and scale them effectively for corporate clients. Ogram’s accomplishments in the UAE and Greece give us great confidence in their ability to replicate this growth in Saudi Arabia. We are excited to support their ongoing expansion and market leadership, in line with Oraseya’s commitment to investing in innovative startups offering promising solutions.”
The funding round aims to expand the company’s operations in Saudi Arabia, where there is significant demand in the retail and hospitality sectors. Meanwhile, demand from major retailers in Greece and the UAE continues to grow, paving the way for further market expansion in the near future.
Ogram is preparing for a Series B funding round and potential mergers and acquisitions in the fourth quarter of this year, with a primary focus on geographical expansion and maintaining its growth and profitability trajectory.
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