Unifonic Selected in First Cohort of National Technology Development Program’s Bridge Initiative
25 December 2023- Unifonic, the Middle East’s leading customer engagement platform, has been selected as one of the companies in the first cohort of the Bridge Initiative by the National Technology Development Program (NTDP). The program aims to support high-growth startups to expand into global markets by providing various financial subsidies.
The selection of Unifonic in the initiative was announced during TechXpand, a premier technology event organized by Saudi Arabia’s Ministry of Communication and Information Technology in Riyadh. In addition to the support provided by NTDP and the Ministry, the startup’s accomplishments further link to the significant support from various other authorities in the country, including Saudi Unicorns.
Ahmed Hamdan, CEO and Co-Founder of Unifonic said: “We are delighted to be selected in the Bridge Initiative’s first cohort. This accomplishment reinforces our pioneering role in the industry, recognizing our relentless efforts to provide an affordable enterprise-grade multilingual omnichannel communications platform across the Middle East. We extend our gratitude to our team, clients, partners, and the government for their unwavering support, which has bolstered our position as a global market leader in the SaaS sector.”
The National Technology Development Program plays a crucial role in advancing the technology ecosystem in Saudi Arabia. Through various interventions and support mechanisms, it enhances effectiveness and fosters sustainable growth, aligning with the initiatives of other stakeholders. Additionally, the program empowers key enablers in the technology market, who strive to position the country as a preferred regional hub for innovation and industry investment.
Under the program, Bridge Initiative participants, including Unifonic, can leverage various benefits to enhance their regional and global presence. One of the key benefits for national companies in the IT and emerging technologies sector is the extensive support to increase local market share and global exports. Similarly, the program encourages the local private sector to embrace IT solutions, initiatives, applications, and services. It also helps attract both local and global companies that support innovation and research centers that are key for the IT sector. Furthermore, NTDP contributes to the localization of the IT sector, particularly by increasing local content in the field of emerging technologies.
Unifonic’s selection in the initiative marks a significant step in its long-standing commitment to support its client base in the Middle East region. Since its inception in 2006, the company consistently developed its product line and offers an affordable enterprise-grade multilingual and omnichannel communications platform across the region. Furthermore, Unifonic achieved a groundbreaking milestone by securing over USD 21 million in the largest-ever Series A financing for a Saudi startup in 2018. The subsequent Series B round saw an impressive increase, with the startup raising a remarkable USD 125 million.
In recent years, Saudi Arabia experienced substantial growth in its entrepreneurial ecosystem, driven by the Saudi Vision 2030. The growing startup community reflects the country’s commitment to diversifying its economy and decreasing its dependence on oil trade. Currently, the Saudi startup community is well-positioned as a hub for innovation and disruption in the region, especially with the support of the government, investors, and startup incubators. Additionally, by embracing change and creating innovative solutions, these startups are poised to meet the demands of both local and international markets.
Unifonic, honored to be selected for the prestigious Saudi Unicorns Program earlier this year, is on an inspiring trajectory to become a software unicorn. Over the years, Unifonic has assisted numerous clients in implementing omnichannel customer experiences as part of their digital transformation. This has reshaped the brands’ engagement with their audiences, surpassing expectations for seamless digital interactions. It has also enabled contemporary, dependable, and effective business messaging across industries with its no-code, automation and orchestration platform. The strategic acquisition of Sestek’s AI-powered conversational suite in 2022 further strengthened Unifonic’s AI solutions, empowering the customer interaction platform to automate personalized end-to-end omnichannel experiences.