Cercli, Y Combinator-Backed HR Tech Startup, Secures $12M Series A to Fuel AI-Powered Expansion in MENA
Dubai, UAE – October 26, 2023 – Cercli, a rapidly growing HR technology company building an AI-native platform for the Middle East and North Africa (MENA) region, today announced it has closed an oversubscribed $12 million Series A funding round.The investment, led by Picus Capital with participation from Knollwood Investment Advisory, and existing investors Y Combinator, Afore Capital, and COTU Ventures, will be used to accelerate product development and expand market share in the burgeoning $5.8 billion MENA HR software market.
Founded two years ago, Cercli aims to consolidate fragmented HR processes for businesses operating in MENA, a region where companies often rely on a patchwork of point solutions for functions like payroll, expense management, and recruitment. The company’s platform differentiates itself by being built from the ground up with artificial intelligence at its core, rather than simply integrating AI as an add-on.
“The legacy systems of the last 20 years-your SAPs, Oracles, Workdays-they were built for on-prem and the cloud. Now we’re entering an AI-native world,” said Cercli founder Azmi in an interview with TechCrunch. “We didn’t want to just integrate AI; we wanted to rethink the whole stack for how people and agents work together.”
Cercli has already rebuilt its payroll engine to be multi-country and agent-compatible,enabling efficient scaling across diverse global jurisdictions. The company has also applied AI to its recruitment module, offering features that surface candidate lists, source from internal datasets, and assess hiring fit. notably, Cercli utilizes its own AI-powered treasury and reconciliation agents to manage its internal finances and accounting, contributing to a 21% month-to-month revenue growth rate, according to Azmi.
The company’s speed of implementation is another key advantage. Cercli claims to onboard customers in two to three days, a meaningful reduction compared to the months-long process frequently enough associated with legacy systems. This rapid onboarding has attracted a diverse client base, including Vision bank, the Global Climate Finance Centre, Huspy, Lean Technologies, and Ziina.
This marks Picus Capital’s first investment in a MENA-based company.”We’ve seen this business model succeed globally within our portfolio, and we are excited to back Cercli as they continue to grow market share through new customers and product launches,” said Robin Godenrath, founding partner at Picus Capital. Picus capital’s portfolio includes other prominent HR companies like Personio, Multiplier, Deel, Maki, and JetHR.
Cercli is participating in the HR Tech Marketplace event, taking place October 27-29, 2025.
