Riyadh-based Signit has raised US$15 million in its Series A funding round.
The round was led by RAED Ventures, with support from other investors like STV, Seedra Ventures, Takamol Ventures, and Suhail Ventures.
With its Series A funding, Signit is moving beyond just e-signatures and expanding into AI-powered contract management.
This means businesses can now create, review, track, and manage their contracts in one secure platform, all with the help of AI.
“We started with digital signatures because that’s where the market was. But signing is just one step in a contract’s life. What comes before and after the signature is where organizations lose the most time and money.”Mohamed El Abbouri, Co-Founder and CEO of Signit
“This funding lets us build the full picture: a single platform where a contract is created, negotiated, approved, signed, and managed — all compliant, all built for how business actually works here.” Mohamed El Abbouri, Co-Founder and CEO of Signit
The funding will be used to expand Signit’s contract management platform with AI-powered drafting, negotiation, and compliance capabilities, build an intelligent contract assistant that gives employees one place to find and act on contract information, and strengthen the certificate infrastructure that makes every digital signature legally binding. Signit has already built a strong e-signature business, serving more than 700 customers across government and enterprise, said Omar Almajdouie, Founding Partner at Raed Ventures. We led this round because we believe Signit can define the next phase of this market. AI-powered contract management is a much bigger opportunity, and the company has the speed, focus, and team to lead it.
Founded in 2021 by Mohamed El Abbouri, Signit is a technology startup that focuses on digital signatures and AI-based contract management.
It is a Saudi company that uses AI as its main focus and is officially licensed by the Digital Government Authority.
