• UAE-based HRtech Ogram has raised a new round for an undisclosed to enhance its expansion plans in Saudi Arabia.
• The round was led by Oraseya Capital, the venture capital arm of Dubai Integrated Economic Zones Authority (DIEZ), along with Aditum Investment Management and Everywhere VC.
• Founded in 2017 by Karim Kouatly, Shafiq Khartabil, Ogram is a digital staffing marketplace that enables businesses to book and manage staff on-demand.
• In 2022, Ogram, which launched in Greece in 2023, closed a $3 million Series A funding round, led by Modus Capital and Aditum Investment Management, Dtec Ventures, and DAAL VC.
• In the meantime, Ogram is closing its Series B and potential M&A activities in Q4.

Press release:

Ogram, a leader in flexible staffing solutions, is excited to announce the successful closure of its latest KSA expansion round, led by Oraseya Capital, the venture capital arm of Dubai Integrated Economic Zones Authority (DIEZ). This marks Oraseya’s second investment in Ogram, solidifying their confidence in the company’s vision and growth potential in the Kingdom. Other key investors include Aditum Investment Management and Everywhere VC.

Ogram's commitment towards creating the world's new flexible workforce is evident with an impressive three million flexible work hours provided to its growing community. Fulfillment rates in both the UAE and Greece have surpassed 90%, showcasing Ogram’s reliability and efficiency in these markets. In the UAE, Ogram has consistently achieved double-digit growth in shifts per month, underlining its dominant market share. Since launching in Greece in 2023, the company has experienced phenomenal triple-digit growth in shifts per month, highlighting its rapid and successful strategic expansion into new territories.

These achievements underscore Ogram's pivotal role in helping businesses across multiple industries cost-save with a flexible hiring model, particularly in sectors with cyclical or seasonal demand patterns, while at the same time enabling thousands of workers to take back control of their own schedules. As Ogram prepares to enter the KSA market, it is projecting an exceptional 150%+ year-on-year growth in man hours for 2024.

“We are excited to secure this expansion round with such esteemed investors, which reflects the strong demand we are witnessing in the retail and hospitality sectors," says Shafiq Khartabil, Co-founder & CEO of Ogram. "The funding will not only fuel our expansion into KSA but also drive us towards achieving profitability this year."

“The on-demand staffing market is rapidly evolving, and Ogram is at the forefront of this transformation. We have been particularly impressed by their ability to provide a much-needed solution and implement it at scale for enterprise customers. Ogram’s achievements in the UAE and Greece give us great confidence in their potential to replicate this growth in the KSA market. We are excited to support their ongoing expansion and market leadership, in line with Oraseya’s commitment to invest in innovative startups offering promising solutions.” says Julien Plouzeau, Senior Partner at Oraseya Capital. 

The expansion round is aimed at scaling operations in KSA, where there is huge demand in the retail and hospitality sectors. At the same time, demand from large retailers in Greece and the UAE continues to grow, setting the stage for another market expansion in the near-future.

Looking forward, Ogram is getting ready for its Series B and potential M&A activities in Q4. The staffing platform’s primary focus remains on expanding its geographic footprint and sustaining its growth and profitability trajectory.

This funding milestone reinforces Ogram’s mission to enhance the lives of workers by making flexible work the way businesses staff their operations, and vision to pioneer ‘the new workforce’ across the globe, fast.