Saudi TAAS (Team as a Service) platform Squadio, which specializes in Tech teams employment and management, announced their seed funding round with Riyadh-based SEEDRA Ventures.
Founded in 2019 in Riyadh, KSA, as an app development company Squadio (previously Ibtikar technologies) successfully pivoted its model to support the growing need of startups and companies seeking to hire and manage their own full time remotely through with engineers vetted by Squadio’s talent community.
With a portfolio of over 100+ organizations varying from government entities to tech startups, the likes of : Monshaat, Sabbar, Morni, Resal, Sabq and more, Squadio helped endless businesses build and manage their tech teams remotely. The startup provides B2B solutions including vetting, hiring engineers, payroll services, plus the option of a product manager (CTO) per squad.
Co-founder and CEO Khaled Senawy, said “We know how challenging it is to find and manage tech talents, in Squadio we helped 100-plus regionally businesses reduce their manpower expenses by over 40%, while building their teams who develop tech products, reducing their expenses by 40%.. We also built a talent community with +350 engineers working out of 5 countries including Saudi Arabia, Egypt, Tunisia and more. We plan to increase this number through our platform..
Our partnership with SEEDRA Venture exceeded the funding part, we won a great team working with us side by side to improve our model and open new doors for growth”
Founding Partner & CEO at SEEDRA VENTURES, Haitham Alforaih said : “We see growing demand for remote engineering teams, and we’re confident that Squadio is well-positioned to provide start-ups with access to the best software engineers working on building great platforms”
Squadio will use the fund as part of its strategy to improve the client experience, minimize employment time and develop the platform, and expand their client base. in addition to expand its talent community to more countries with more benefits for their talents.