UAE-based HR and payroll software startup, Bayzat, raised USD 25 million in a Series C investment round led by DisruptAD, ADQ’s venture platform, and global hedge fund, Ischyros New York. This latest round of funds brings the tech startup’s total funding to date to USD 60 million.
Founded in the United Arab Emirates in 2013 by Brian Habibi, Talal Bayaa, and Tarek Bayaa, Bayzat helps businesses provide improved employee experiences by automating and improving their payroll, insurance, and HR administration procedures.
“Whether it is to empower employees with self-serve HR, streamline payroll, optimise group insurance plans, or unlock exceptional employee benefits, our customers are seeing value from the Bayzat platform,” Talal Bayaa, CEO and co-founder at Bayzat, tells StartupScene.
At this point in time, Bayzat provides its services to 127,000 employees across 1,500 businesses in the GCC, including Deliveroo, Zomato, Saudi Icon, Grant Thornton, Eyewa, and The Giving Movement. Moreover, the firm has had over 100% in annual growth over the last three years, employing almost 350 people across the UAE, Saudi Arabia, and the wider MENA region.
The HR tech startup will use the funds to grow its customer base across its markets in the Middle East, especially Saudi Arabia.
