• Cercli Raises $12 Million Series A to Accelerate the Development of Its AI-Powered HR Platform
• The round was led by Picus Capital with participation from more than eight prominent investors, aiming to accelerate the growth of the HR software sector in the region.

Cercli, an AI-driven platform specializing in human resources management and payroll, has announced the successful closure of its $12 million Series A funding round, led by Germany-based Picus Capital. The funds will be directed towards enhancing Cercli’s platform and expanding its capabilities.

Investors in the Round

• Participants in the round included Knollwood Investment Advisory, alongside notable investors such as:
  Y Combinator
• Afore Capital
• COTU Ventures

in addition to several angel investors including:

• Prabhakar Reddy (OpenFX)
• Jamie Arrieta (Buk)
• Marco Oliengo and Francisco Scalambrino (Jet HR)
• Francesco Simoneschi (Truelayer)
• Mehdi Ghassassi (AI71).

Funding Details

This marks Picus Capital’s first investment in the Middle East and North Africa (MENA). The firm manages over $1 billion in assets through a global portfolio that includes leading HR-focused companies such as Personio, Multiplier, Deel, Maki, and Jet HR.

The investment aligns with Picus Capital’s global strategy of backing next-generation HR tech companies in fast-growing digital economies.

Cercli aims to build a unified platform that helps organizations manage their people, data, and agents in the era of artificial intelligence.

About Cercli

Over the past year, Cercli has achieved 10x revenue growth, serving a diverse client base that includes startups and multinational enterprises such as Vision Bank, Backlite Media (a subsidiary of Abu Dhabi-listed Multiply Group), the Global Climate Finance Center, Huspy, Lean Technologies, and Zina.

The company processes payroll distributions for organizations across 50 countries, with total transactions exceeding $100 million in the past year.

Its services cater to organizations ranging from 25 to 1,000 employees across MENA and beyond.

Leadership Statements

Aqeed Azmi, Co-founder and CEO of Cercli, said:

“We’ve experienced significant growth over the past twelve months, attracting top talent, clients, and investors, Companies now realize the importance of a single, reliable platform to manage their most valuable asset — their people”.

 He add:

“We believe the era of AI provides a unique opportunity to redefine the ERP landscape long dominated by giants like Workday, SAP, and Oracle.”

With a 22% month-on-month growth rate, Cercli is well-positioned to tap into the $5.8 billion HR software market in MENA, where many organizations still rely on legacy ERP systems that don’t meet the needs of the modern workforce.

The regional market is undergoing rapid transformation, driven by Saudi Arabia’s Vision 2030, which alone is backing over $500 billion worth of economic projects requiring advanced workforce management capabilities.

Cercli’s AI-first strategy allows it to deploy new products and features faster, enabling clients to fully migrate their operations to Cercli’s platform within 48 to 72 hours, compared to the nine-month timelines typically required by traditional software providers.

This agility has driven growing demand among high-performing organizations.

Robin Guddenrath, Co-founder at Picus Capital, commented:

“Cercli is launching products at a remarkable pace in a region undergoing rapid transformation, with a tech-savvy workforce seeking integrated AI-powered HR solutions”.

HE add:

“We’ve seen this model succeed globally within our portfolio, and we’re excited to support Cercli as it continues expanding its market share.”

David Reich, Co-founder and Chief Technology & Product Officer at Cercli, added:

“We recognized the urgent need to rebuild workforce management systems with AI at their core, rather than simply adding new features. This gives us a critical edge in delivering efficiency, integration, and intelligence that modern organizations require”.

HE add:

“As we expand, our focus will remain on attracting top global talent to join our mission of transforming how companies manage both human and AI workforces.”

Cercli continues to strengthen its commitment to global tech talent. Since 2024, the company has hired professionals from world-leading firms such as Google, Meta, Deel, Booking.com, Rippling, and Goldman Sachs.