Dubai-based HR-tech startup Cercli has raised US$12 million in a Series A round led by Picus Capital, marking the German venture firm’s first investment in the Middle East and North Africa region. The round also included participation from Y Combinator, Afore Capital, COTU Ventures, and several angel investors active in the global HR-tech sector, according to a report by Wamda.
Founded in 2023 by Akeed Azmi and David Reche, Cercli provides a cloud-based platform that allows companies to hire, manage, and pay both employees and digital agents through a single interface. The company reports tenfold revenue growth in the past year and says it has processed payroll transactions exceeding US$100 million across more than 50 countries.
The new capital will be used to enhance Cercli’s AI capabilities, scale its global operations, and deepen its presence in the MENA region, Europe, and North America. Picus Capital’s participation signals a growing appetite among international investors for next-generation enterprise software emerging from the Gulf.
Unlike traditional HR management systems, Cercli positions itself as an “AI-native” platform — built from the ground up for automation and workforce intelligence rather than layering AI tools onto existing legacy systems. Co-founder Akeed Azmi said the platform enables enterprises to migrate within 48 to 72 hours, significantly faster than conventional systems that can take months to deploy.
Cercli estimates that the HR-software market opportunity in the MENA region is worth US$5.8 billion, driven by increasing digital adoption and government transformation programs such as Saudi Vision 2030. The company’s expansion aligns with the Gulf’s broader goal of developing AI-enabled enterprise infrastructure that can compete globally.
The Series A round reinforces a wider shift in the region’s startup ecosystem, where AI-centric business models are beginning to attract institutional venture funding at scale. For investors, Cercli’s trajectory offers a case study in how MENA-born platforms can achieve international reach while anchoring innovation in regional expertise.
Picus Capital makes first MENA bet with Cercli’s $12 million Series A round