UAE-based HRtech startup Cercli has successfully secured $4 million in a Seed funding round, led by Afore Capital. Other participants in the round include COTU Ventures, Y Combinator, and Rebel Fund, as well as prominent figures like Karim Atiyeh (Ramp), Sebastian Mejia (Rappi), Tony Dong (Rippling), Tony Jamous (Oyster), and Allison Pickens.
Founded in 2023 by Akeed Azmi and David Reche, Cercli aims to help businesses eliminate human error and reduce compliance costs across various operational markets. The newly raised funds will be used to fuel Cercli’s growth and attract top-tier talent.
Cercli offers a unified platform designed to help businesses in the MENA region hire, manage, and pay their global workforce. The $4 million seed round was led by Afore Capital, marking the firm’s first investment in the MENA region, with the funds coming from its $150 million Fund III.
The round also attracted investments from COTU Ventures, Y Combinator, and Rebel Fund, along with key industry leaders from unicorns like Kitopi, Careem, and other notable MENA startups.
With the MENA region’s payroll market alone estimated to be worth $2 billion, Cercli is poised to revolutionize how businesses handle workforce management. The platform consolidates multiple back-office functions into a single solution, helping companies avoid the pitfalls of using fragmented systems, such as data breaches, payroll errors, and delays.
The founders, Azmi and Reche, who previously led teams at Kitopi and Careem, identified the need for a comprehensive workforce management solution, especially as companies in the region experience rapid growth.
Azmi noted that workforce compliance costs are a major concern for executives in the region. Cercli was created to replace isolated systems with a single, modern platform that manages payroll, remote contractors, HR, onboarding, and more. The support from renowned global investors is expected to drive Cercli’s growth in its key markets and product lines.
Since its launch in early 2024, Cercli has experienced a 25% monthly growth rate and has processed over $23 million in employee salaries across 31 countries.
Afore Capital’s co-founder and managing partner, Anamitra Banerji, highlighted Cercli’s role in addressing one of the region’s biggest challenges: managing a global workforce while ensuring compliance. Banerji also pointed out that the MENA region has untapped potential, which Cercli is well-positioned to unlock.
Cercli’s platform is built with a customer-centric approach, ensuring compliance with local regulatory changes and labor laws. The company’s tech team has developed integrations across various software systems, enabling customers to seamlessly connect to the Cercli platform, which serves as their primary source of truth.
Amir Farha, Founder of COTU Ventures, emphasized the importance of technology-powered startups in driving economic transformation in the Middle East. He expressed confidence in Cercli’s future, citing the founders’ strong regional track record and the company’s impressive growth since its launch.
Co-founder David Reche highlighted the critical role of technology and talent in Cercli’s success, noting the company’s efforts to recruit top engineers from global tech giants. With the backing of new investors, Cercli plans to double its growth efforts and continue attracting world-class talent to expand its reach in the regional economy.
Cercli has assembled a team of top talent, drawing from regional unicorns like Kitopi and Careem, as well as global leaders such as Microsoft, ADP, and Accenture. With 80% of its team focused on product and engineering, Cercli is building a robust platform that spans multiple product verticals and markets.
