Ogram Secures Key Funding Round to Expand Flexible Staffing Solutions in KSA

Ogram, a leader in flexible staffing solutions, has successfully closed its latest expansion round for the Kingdom of Saudi Arabia (KSA), led by Oraseya Capital, the venture capital arm of Dubai Integrated Economic Zones Authority (DIEZ). This marks Oraseya’s second investment in Ogram, underscoring their confidence in the company’s vision and growth potential. Additional key investors include Aditum Investment Management and Everywhere VC.

Ogram's commitment to creating a flexible workforce is highlighted by the provision of three million flexible work hours to its community. With fulfillment rates exceeding 90% in both the UAE and Greece, Ogram has demonstrated its reliability and efficiency. In the UAE, the company has consistently achieved double-digit growth in shifts per month, solidifying its market dominance. Since its launch in Greece in 2023, Ogram has seen triple-digit growth in shifts per month, showcasing its rapid and successful expansion.

These accomplishments emphasize Ogram's crucial role in helping businesses across various industries save costs with a flexible hiring model, especially in sectors with cyclical or seasonal demand patterns. As Ogram prepares to enter the KSA market, it projects an impressive 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," said 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,” said Julien Plouzeau, Senior Partner at Oraseya Capital.

The expansion round aims to scale operations in KSA, where there is significant demand in the retail and hospitality sectors. Meanwhile, demand from large retailers in Greece and the UAE continues to grow, paving the way for further market expansions in the near future.

Looking ahead, Ogram is preparing for its Series B and potential M&A activities in Q4. The staffing platform remains focused on expanding its geographic footprint and maintaining its growth and profitability trajectory.

This funding milestone reinforces Ogram’s mission to enhance workers' lives by promoting flexible work and pioneering 'the new workforce' globally.