Riyadh – Sharikat Mubasher: Saudi-based Signit announced it has closed a $15 million Series A round led by Raed Ventures, with participation from STV, Seedra Ventures, Takamol Ventures, and Suhail Ventures, as it looks to scale its AI-powered contract management platform across Saudi Arabia.
According to the company’s press release, the new funding will support Signit’s expansion beyond e-signatures into a full AI-driven contract lifecycle management (CLM) platform, enabling organizations to create, negotiate, sign, and manage agreements within a single system. The company is also investing in AI-powered drafting and compliance tools, alongside strengthening its digital certification infrastructure.
Founded in 2021, the company provides digital signature and contract lifecycle management solutions, serving more than 700 clients across government, financial services, healthcare, and enterprise sectors. It is licensed as a Trust Service Provider by the Digital Government Authority.
Commenting on this, Mohamed El Abbouri, the CEO, said the move reflects growing demand for end-to-end contract solutions, highlighting inefficiencies in traditional contract processes. Investors noted that AI-powered contract management represents a significant market opportunity, positioning Signit to play a leading role in the Kingdom’s evolving digital economy.
