Saudi-based SaaS leader Lucidya has announced the close of its $30 million Series B funding round, setting a new record for the largest AI-focused raise in the MENA region. The round was led by Impact46, with participation from Wa’ed Ventures (Aramco), Takamol Ventures, SparkLabs, Rua Growth Fund, and ARG.
This funding signals a major leap not just for Lucidya, but for the region’s AI ecosystem.
Building MENA’s AI Powerhouse
Founded in 2016 by Abdullah Asiri, Lucidya has grown into a regional pioneer in customer experience management (CXM) powered by artificial intelligence. Its platform is used across 11 countries in MENA, spanning sectors like telecom, BFSI, healthcare, hospitality, and the public sector, serving over 75 million users.
At the core of Lucidya’s solution is an Arabic-native AI engine that delivers over 92% accuracy, a standout metric that sets it apart in the field of sentiment analysis, customer interaction, and omnichannel engagement.
What the Funding Means
The $30 million injection will help Lucidya:
- ✅ Scale its AI Agent platform, focused on automating customer-facing roles
- ✅ Expand R&D to boost personalization, automation, and analytics
- ✅ Enter new markets with a sharper product edge
- ✅ Support regulatory compliance, including PDPL standards
- ✅ Reduce operational costs for client businesses through AI-led efficiency
Lucidya’s AI Agents will help automate tasks across sales, marketing, support, and CX, essentially acting as digital employees to enhance and streamline customer engagement.
Strategic Backing for Global Growth
The round was led by Impact46, the Saudi VC firm behind successful IPOs like Jahez and Rasan. Returning investors, including Rua Growth Fund and ARG, showed continued confidence in Lucidya’s trajectory by reinvesting in the company.
“We chose Impact46 for their proven track record,” said CEO Abdullah Asiri. “They’re the right partners to scale Lucidya into a global AI force.”
“Lucidya is solving real challenges with bold vision and deep tech,” said Basmah Alsinaidi, Partner at Impact46. “Their leadership in Arabic-first AI positions them to lead this space.”
The investment also received recognition from Saudi Arabia’s Minister of Communications and Information Technology, H.E. Eng. Abdullah Alswaha, during a visit to Lucidya’s Riyadh HQ.
A Long Bet on AI, Now Paying Off
Lucidya’s journey began well before AI became a buzzword. “We bet on AI back in 2016,” noted Asiri. “That early conviction is now our advantage.”
As the CRM/CX software market in MENA is expected to grow to $9 billion by 2030, Lucidya is well-positioned to dominate with its locally built, culturally attuned AI platform.