Lucidya, the leading AI-powered customer experience management (CXM) platform in MENA, has announced the successful close of its USD30 million Series B round, making it the largest AI investment ever raised in the region.
The round was led by Impact46, the Saudi VC behind IPOs like Jahez and Rasan. New participants included Wa’ed Ventures, Aramco’s investment arm for transformative tech; Takamol Ventures, a government-backed digital innovation catalyst; and SparkLabs. Existing investors Rua Growth Fund and ARG also returned, doubling down on their long-term conviction in Lucidya’s trajectory.
Lucidya
Founded in 2016 and headquartered in Riyadh, Lucidya is one of the MENA region’s pioneering AI startups, having kicked off its venture capital journey in 2019. Today, the company operates in 11 countries, serving enterprises across telecom, BFSI, hospitality, healthcare, and the public sector. Its client base spans both private and government entities, with a combined market capitalization of over USD250 billion. Through its platform, Lucidya helps organizations improve the experiences of their +75 million customers and citizens across the region—strengthening its position as the leading Customer Experience Management (CXM) platform in MENA.
Training Arabic Language Models
Abdullah Asiri, CEO and Founder of Lucidya, commented on the round explaining, “Our story started back in 2016, when we took a bet on AI long before it became a boardroom buzzword. Training Arabic language models when everyone else was exploring basic digital transformation felt audacious at the time, but that early conviction is paying off today by being the trusted partner for AI in CX by the leading organizations in the region.”
Insights and Powering Intelligent Engagement
At the core of Lucidya’s platform is a proprietary Arabic-language AI engine that has surpassed 92% accuracy, an industry benchmark enabling deep customer insights and powering intelligent engagement and automation across customer touchpoints, where other platforms fall short. The company is addressing the rapidly growing CRM and CX software market in MENA, which is projected to reach USD9 billion by 2030.