Bayzat, a Dubai, UAE-based region’s leading employee benefits platform, successfully closed $25 million in Series C funding.
The round was led by DisruptAD, ADQ’s venture platform, alongside Ischyros New York, a global hedge fund. To date, Bayzat has raised more than $60 million in funding.
The funds will be used to expand its customer base across the Middle East, with a particular focus on Saudi Arabia. This focus on innovation has enabled the company to establish itself as the category leader in the UAE, as a pioneer in InsureTech, HR and payroll automation, and employee benefits through a Software as a Service (SaaS) platform.
“In today’s economic climate, employee experience is a business imperative and organisations can no longer pay lip service to discussions around this topic,” said Talal Bayaa, CEO and co-founder at Bayzat.
Bayzat is a technology company that helps organizations deliver world-class employee experiences by automating and enhancing their insurance, payroll, and HR administration processes.
Over the past three years, the company has recorded more than 100 percent annual growth and has grown its workforce to almost 350 employees across the UAE, Saudi Arabia, and the wider region.
Company: Bayzat LLC
Raised: $25.0M
Round: Series C
Funding Month: December 2022
Lead Investors: DisruptAD
Additional Investors: Ischyros New York
Company Website: https://www.bayzat.com
Software Category: Employee benefits platform
About the Company: Founded in the UAE in 2013, Bayzat is an employee benefits platform that helps companies provide their employees with a better experience by automating & enhancing their insurance, payroll, and HR administration. As of today, Bayzat is helping to provide world-class employee experiences to 127,000+ employees. The company redefining the way work works for the better, making automated HR, payroll, employee benefits, and insurance a possibility for all businesses. Its unique solutions are based on the needs of people like you and can free your team to do work that matters.
Source: https://www.zawya.com/en/press-release/companies-news/bayzat-targets-becoming-middle-east-leader-in-hr-and-insuretech-following-25mln-series-c-round-led-by-disruptad-b6n7l84u