Velents Secures Seed Funding Round

Velents Secures Seed Funding Round

By Press Release, 20 December 2023

Velents is thrilled to announce the closing of its seed investment round.

A15 leads this oversubscribed first round with participation from Nibras Capital, AUC Venture Lab, and some local investors from the Middle East.

Velents is an AI recruiter that can filter candidates' CVs, interview them, and assess their language, skills, and coding capabilities, which sum up a total saving of up to 80% of your hiring cost and increase by 400% the number of interviews per year.

This automation comes with an applicant tracking system and APIs that support hiring platforms to become AI-powered. 

“Closing our seed round to expand in Saudi Arabia to work closely with the ministries and government to match The Kingdom's Vision 2030 goals - amidst a challenging macroeconomic climate is not just a milestone; it's a testament to the urgent need and belief in Velents' mission to remove bias from the hiring process. We are excited and ready to propel forward with the support of our exceptional investors and partners,” added Mohamed Gaber, co-founder and CEO of Velents.

“Velents is forging a new path in the recruitment automation and assessment phase. The platform is also exploring expansion into sharing its API and expanding with government entities across the Middle East. Velents focuses on becoming the preferred platform for hiring across government entities in the Middle East. Today, Velents is in advanced talks with the governments of Saudi Arabia, the UAE, Oman, Bahrain, and Qatar about deploying its AI tools to hire more efficiently,” added Abdulaziz Almuhaydib, co-founder and general manager.

Angel investors and advisors come from different backgrounds, including LinkedIn and Gartner.

Velents boasts a founding team from Europe's, UAE's, and KSA's top companies and scale-ups and maintains a diverse workforce with 40% women.

Velents has ambitious plans to expand its services across the Middle East and Europe.

The new capital injection will be pivotal in strengthening Velents’ critical network, investing in technology improvement and user experience, and scaling B2B business development efforts to solidify its market presence.

---

Send us your press releases to shareyournews@lucidityinsights.com

Related Report

Riyadh Startup Ecosystem

The Evolution of Saudi Arabia Startup Ecosystem 2010-2022

The first comprehensive overview of Saudi's startup ecosystem, its history, and its future.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems