Cercli Secures $12M in Oversubscribed Series A to Expand AI-First HR Platform Across MENA Region

Oversubscribed Funding Round

Cercli, a Dubai-based HR technology startup, has reportedly raised $12 million in an oversubscribed Series A funding round led by European venture capital firm Picus Capital. According to reports, the round saw participation from Knollwood Investment Advisory and existing investors Y Combinator, Afore Capital, and COTU Ventures. This investment marks Picus Capital’s first venture into the MENA region, with the firm having previously backed global HR companies such as Personio and Deel.

Oversubscribed Funding Round
AI-Native Platform for MENA Businesses
Rapid Growth and Market Differentiation
Future Expansion and Market Opportunity

AI-Native Platform for MENA Businesses

Sources indicate that Cercli is building a unified, AI-native platform to address fragmented enterprise systems in the MENA region. Founded by former Careem operators Akeed Azmi and David Reche, the startup aims to consolidate HR management, payroll, and compliance tools into a single solution. Analysts suggest that the region’s businesses often rely on disconnected point solutions, creating inefficiencies in back-office operations.

CEO Akeed Azmi explained in an interview that Cercli has undergone a significant rebuild over the past year, transforming into an AI-first platform. The report states that the company rewrote its entire payroll engine to be multi-country and agent-compatible, enabling more efficient scaling across global jurisdictions. This approach, Azmi claims, allows Cercli to offer setup times of just two to three days, compared to several months with legacy systems.

Rapid Growth and Market Differentiation

Despite entering a crowded HR-tech market with established players like Deel, Remote, SAP, and Oracle, Cercli has demonstrated substantial growth. The company reportedly scaled its revenue more than 10x over the past year and now processes over $100 million in annual payroll for businesses across 50 countries. According to the analysis, Cercli’s AI-native architecture may provide its competitive edge, with features including agent-driven recruitment tools and internal AI operations for treasury and reconciliation.

Azmi emphasized that customers are seeking consolidated solutions, and being AI-native enables Cercli to build unified experiences quickly. The startup’s client portfolio reportedly includes Vision Bank, the Global Climate Finance Centre, Huspy, Lean Technologies, and Ziina, spanning from startups to multinational corporations., according to industry developments

Future Expansion and Market Opportunity

With the new funding, Cercli plans to develop additional AI-native products and capture more market share in the MENA region’s $5.8 billion HR software opportunity. Robin Godenrath, founding partner at Picus Capital, stated that the firm has seen this business model succeed globally within its portfolio and is excited to support Cercli’s growth through new customers and product launches.

The 14-person team has maintained a 21% month-to-month revenue growth rate, according to Azmi, who attributes this efficiency to the company‘s AI-driven internal operations. As Cercli continues to expand, its focus on AI-native solutions and regional consolidation may position it as a significant player in transforming MENA’s enterprise software landscape.