Having raised $30 million U.S. in a series C funding round last month, India-based rectech company Disprz is seeking to expand internationally, with Saudi Arabia a key target market.

The company intends to relocate its regional head office from Dubai to Saudi Arabia and is targeting further collaboration with state-backed initiatives in the Kingdom.

According to Disprz CEO and co-founder Subbu Viswanathan, “One of the markets we are particularly keen on expanding in is Saudi Arabia. We already have a good set of customers, but now we want to amplify it.”

“We currently serve around 250 global customers, including a dozen from Saudi Arabia and 70 from the broader Middle East. Our goal is to expand our Middle East customer base to 500 within the next three years, with the majority originating from the Kingdom.”

Disprz’s clients in the Kingdom include Neom (a state-backed effort to build a high-tech city from scratch in the northwest of the country), SRMG (Saudi Research and Marketing Group) and Tawuniya Insurance.

Founded in 2015, Disprz has raised a total of $50 million across four funding rounds from the likes of Luymos Capita, 360 ONE Asset, Kae Capital, KOIS and Dallas Venture Capital.

Disperz, which targets companies with more than 300 employees, is currently focused on integrating AI into its recruitment software, with a first beta version due to be released later this month.

According to Viswanathan, “We are on a strategic path to escalate our annual revenue from $10 million to $100 million. With a consistent annual growth rate of 100%, we project to achieve profitability by the second half of 2024.”

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