In an area often characterized by disjointed enterprise systems, outdated compliance tools, and HR software that seldom communicates with financial systems, Cercli is paving the way for a cohesive solution tailored for MENA businesses, utilizing AI at its foundation.
Founded by former Careem executives Akeed Azmi and David Reche, the Dubai-based startup recently announced an oversubscribed $12 million Series A funding round led by the European venture capital firm, Picus Capital.
Cercli has evolved since its initial $4 million seed round raised last year. The startup is developing a Rippling-inspired platform for the MENA region, but with a crucial difference – it is built to be AI-native from the ground up.
This strategic direction has proven fruitful; in just one year, Cercli reported a staggering 10x revenue growth, now processing over $100 million in payroll annually for businesses in 50 countries.
In a competitive HR-tech landscape, filled with numerous startups like Deel and Remote, alongside established players such as SAP and Oracle, one may wonder: what unique value does Cercli bring to the table? CEO Azmi believes that its AI-first approach could provide the competitive edge needed to distinguish it from the rest.
Azmi founded Cercli to address the challenges faced by enterprises in managing people operations—an insight gained from their experiences at Careem and Kitopi, two prominent unicorns in the MENA region.
Recognizing payroll complexities and compliance variations across regions, the initial iteration of Cercli aimed to unify human resources management, payroll processing, and compliance for MENA-based companies with global operations.
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However, Azmi envisions a larger opportunity by integrating AI deeply into the platform. Over the last three months, Cercli has completely overhauled its payroll engine to accommodate multi-country operations and enhance agent compatibility, making it easier to scale across diverse jurisdictions.
“Legacy systems from the past two decades—such as SAP, Oracle, and Workday—were designed for both on-premises and cloud use. We are now transitioning into an AI-native world,” Azmi shared in an interview with TechCrunch. “Our intention was not merely to integrate AI, but to fundamentally rethink how people and systems work together.”
The recruitment module has also undergone a transformation. Cercli now features agent-driven functionalities that can generate candidate lists, tap into internal data sources, and apply background checks for hiring suitability.
Internally, Cercli employs AI to streamline its operations; custom-built treasury and reconciliation agents are used to manage financial and accounting tasks. This innovative approach has enabled the 14-member team to secure its Series A funding while achieving a remarkable 21% month-over-month revenue growth rate, according to Azmi.
Beyond its AI capabilities, Cercli’s consolidation strategy stands out. Many competing HR solutions, such as Deel, Rippling, and BambooHR, offer a multi-module approach, yet MENA companies often find themselves piecing together different systems for functions like expense management, payroll, or recruitment.
“Our customers are seeking an all-in-one solution, and being AI-native allows us to deliver that integrated experience much faster,” Azmi noted.
Cercli’s AI-centric architecture also facilitates rapid customer onboarding; implementation can occur in just two to three days, starkly contrasting the months typically required by traditional systems. This has enabled the two-year-old HR-tech startup to attract clients ranging from startups to multinational corporations, including Vision Bank, the Global Climate Finance Centre, Huspy, Lean Technologies, and Ziina.
Picus Capital’s investment in this Series A round marks its first foray into the MENA region. The firm has previously backed other global HR companies, including Personio, Multiplier, and Deel.
Additional investors participating in this funding round include Knollwood Investment Advisory and existing backers Y Combinator, Afore Capital, and COTU Ventures.
With this influx of capital, Cercli aims to develop new AI-driven products and strengthen its footprint in the burgeoning $5.8 billion HR software market in the MENA region.
“We recognize the success of this business model on a global scale within our portfolio, and we are excited to support Cercli as they expand their market share through new customers and product innovations,” stated Robin Godenrath, founding partner at Picus Capital.
