Lucidya, the Saudi-based customer experience management platform, has today announced its second round of funding of $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.
This round 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 5x year-over-year and making it among the top 10% fast-growing B2B SaaS companies globally, according to the industry’s benchmark.
The fund will be used to expand the company’s product offering to provide a wider range of values to its customers.
Abdullah Asiri, founder and CEO at Lucidya said; “We are on a mission to revolutionize 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.”
“COVID-19 accelerated digital transformation and changed consumers’ behavior. Nowadays, most individuals interact with businesses through online channels (e-stores, social media, chat, emails, calls, etc.) and this trend is only expected to grow with time. This paradigm shift has resulted in an enormous and rapidly growing global customer demand for an omnichannel solution that leverages these interactions to improve customer retention. As a result, Lucidya is among the fastest-growing B2B SaaS companies in the world. Today, if any organization in Saudi Arabia wants to build a Customer Experience competitive advantage, Lucidya is essential. Soon this will be the case the MENA region too”
