Saudi Arabia-based Lucidya secures $6mn to expand its product offering

By Shilpa Annie Joseph, Official Reporter
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Saudi Arabia
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Saudi Arabia-based customer experience management platform Lucidya has raised $6 million in the second round of funding in order to expand its product offering.

According to the startup, the funding round was led by Rua Growth Fund with participation from M.A.L Ventures, AlRashed Group and other international Venture Capitals.

Lucidya’s solution empowers organizations to understand and better serve their customers by analyzing interactions across different online channels in one platform.

“Powered by proprietary Artificial Intelligence (AI) and Arabic Natural Language Processing (NLP) technologies, all captured interactions are deeply analyzed to extract insights that help businesses in making data-driven decisions,” the company said.

Abdullah Asiri
Abdullah Asiri
Founder & CEO

“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 in the MENA region too”

“Having developed their technology in-house by and for Arabic speakers, they serve the needs of the global market while also demonstrating the Kingdom’s potential of innovative tech entrepreneurs, which promises to be a key part of accelerating the Kingdom’s growing leadership in MENA’s tech revolution,” said Mr. Turki Aljoaib, Managing Partner at Rua Growth Fund.

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