Saudi digital signatures and contract management platform Signit has successfully closed a $15 million Series A funding round. Led by Raed Ventures and joined by investors such as STV, Seedra Ventures, Takamol Ventures, and Suhail Ventures, this investment marks a significant milestone for the company.
Founded in 2021 by CEO Mohamed El Abbouri, Signit has quickly grown to serve over 700 customers spanning government, financial services, healthcare, and enterprise sectors. The company holds a license as a Trust Service Provider from the Saudi Digital Government Authority, reinforcing its credibility and compliance in digital transactions.
Signit is now expanding its offerings beyond traditional e-signatures. The platform is evolving into an AI-powered contract lifecycle management solution, enabling organizations to draft, negotiate, track, and manage agreements all within one compliant system. El Abbouri highlights that signing is just one moment in a contract’s life, and the real inefficiencies lie in the processes before and after signing.
The newly secured funding will be used to develop AI-driven drafting and negotiation tools, an intelligent contract assistant, and to enhance the platform’s digital certificate infrastructure. Omar Almajdouie, founding partner of Raed Ventures, emphasized that AI-powered contract management presents a far greater opportunity than e-signatures alone, praising Signit’s speed and focused approach as key advantages.
This expansion positions Signit to transform how organizations handle contracts, streamlining the entire lifecycle with smart technology and setting a new standard in the Saudi digital contract space.
