NEWS
Saudi-based Lucidya closes US $ 6 million second round of funding to expand product offering
This round of funding comes after an outstanding performance by the B2B SaaS company , which managed to serve over 100 enterprise customers in more than 6 countries , fueling its annual recurring revenue ( ARR ) growth five times year-over-year .
Lucidya , the Saudi-based customer experience management platform company , has announced its second round of funding of US $ 6 million led by Rua Growth Fund with participation from M . A . L Ventures and AlRashed Group , and other international Venture Capitals . Existing Lucidya investors also participated in the round , including Venture Souq .
Lucidya ’ s solution empowers organisations to understand and better serve their customers by analysing interactions across different online channels in one platform .
Abdullah Asiri , Founder and CEO , Lucidya said : “ We are on a mission to revolutionise customer experience in the MENA region . We are leveraging our Arabic-tailored AI to bridge the gap between businesses and their customers and make customer voices heard loud and clear . Seeing that brands using Lucidya enjoyed an improvement of 200 % in customer satisfaction , on average , indicates that we are on the right track but we are not there yet . 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 .”
Quara Holding introduces new digital ticketing solution with latest Blockchain NFT technology
Saudi Arabia-based company Quara
Holding recently partnered with B . A . M Ticketing , a Blockchain-based ticketing technology provider that enables event organisers to issue tamper-proof tickets and manage the entire ticketing lifecycle .
The new partnership between Quara Blockchain , a subsidiary venture to Quara Holding , aims to empower all event organisers in the Kingdom with complete ticket control to eliminate ticket fraud and keep track of the tickets sold . Each ticket is created using the latest Blockchain and non-fungible token ( NFT ) technology . They are securely linked to the purchaser with 100 % traceability removing fake tickets from the secondary market . All tickets are issued on a Blockchain network to eliminate the possibility of scalping , unfair pricing and fraudulent transactions using smart contracts while adding value from secondary trading .
Ziad El Chaar , CEO , Quara Holding , said : “ We are delighted to work with B . A . M Ticketing to provide tamper-proof tickets with the latest Blockchain and NFT technology to the Kingdom . This partnership is a major milestone for the Saudi entertainment event industry , enabling the sector to set ticketing rules , control full ticketing lifecycle and enhance user experience .”
El Chaar added : “ Nowadays , it ’ s relatively easy to forge tickets and resell them to secondary markets . There is also limited care in identifying each participant entering events .”
www . intelligentcio . com INTELLIGENTCIO MIDDLE EAST 11