Riyadh, Saudi Arabia – Signit, a Saudi-based technology company specializing in AI-powered digital signatures and contract lifecycle management, has raised $15 million in a Series A funding round to expand its platform and capabilities.
The round was led by Raed Ventures, with participation from STV, Seedra Ventures, Takamol Ventures, and Suhail Ventures. The investment also marks a continued deployment from STV’s AI Fund, backed by Google, focused on supporting AI-native startups in the region.
Founded in 2021, Signit initially addressed a critical market gap by offering legally binding digital signatures. The company is licensed as a Trust Service Provider by the Saudi Digital Government Authority (DGA), enabling compliant digital transactions across the Kingdom. Today, Signit serves more than 700 customers spanning government, financial services, healthcare, and enterprise sectors.
Expanding Beyond Signatures into AI-Driven CLM
With this latest funding, Signit is expanding into AI-powered Contract Lifecycle Management (CLM)—a natural evolution beyond e-signatures. The new platform enables organizations to draft, negotiate, approve, track, and manage contracts within a single, secure system.
A key component of this expansion is the development of an intelligent contract assistant, designed to help users quickly access and act on contract data, significantly reducing time spent on manual processes. The company is also strengthening its digital certificate infrastructure, reinforcing its regulatory and security advantage.
Founder Vision
Commenting on the milestone, Mohamed El Abbouri, Co-founder and CEO of Signit, said:
“Since our launch, we have focused on solving the urgent need for digital signatures. However, the signature is just one part of the process—most inefficiencies lie before and after it. This funding will help us build a fully integrated platform for creating, negotiating, and managing contracts in a secure, compliant digital environment.”
He added that the company is prioritizing AI-driven drafting and negotiation capabilities, alongside building a smart assistant that consolidates all contract-related workflows into a unified platform.
Investor Confidence in AI-Led Transformation
Investors highlighted strong confidence in Signit’s positioning at the intersection of AI and enterprise contract management.
Omar Al-Majdouie, Co-founder of Raed Ventures, stated:
“Signit has built a strong foundation in digital signatures. We believe the next phase lies in AI-powered contract management, which represents a significantly larger opportunity.”
Meanwhile, Mazen Al-Zaidi emphasized:
“Signit is leveraging AI not as an add-on, but as a core component of its platform—positioning it as a leader in contract management innovation in Saudi Arabia.”
Strong Regulatory Backing
Signit acknowledged the support of Saudi Arabia’s digital ecosystem, particularly the role of the Saudi Digital Government Authority in enabling secure digital trust services.
The company also credited the Ministry of Communications and Information Technology for fostering innovation and supporting the Kingdom’s rapidly growing digital economy—especially as Saudi Arabia positions 2026 as the “Year of AI.”
Building Core Infrastructure for the Digital Economy
As organizations continue to rely heavily on contracts, Signit is targeting one of the highest-value use cases for AI in enterprises. By transforming fragmented workflows—often spread across emails, documents, and legacy systems—into a unified platform, the company aims to become the default contract infrastructure provider for enterprises and government entities across Saudi Arabia and beyond.
