Saudi Tech Startup Signit Raises $15M in Series A Led by Raed Ventures

Signit, a Saudi technology company focused on digital signatures and contract management, has raised $15 million in a Series A round announced in Riyadh.

The round was led by Raed Ventures, with participation from STV, Seedra Ventures, Takamol Ventures and Suhail Ventures.

Founded in 2021, Signit provides digital signature services and contract lifecycle management tools to more than 700 customers across government, financial services, healthcare and enterprise sectors. The company is licensed as a Trust Service Provider by the Digital Government Authority.

“We started with digital signatures because that’s where the market was,” Mohamed El Abbouri, Co-Founder and CEO, says. “This funding lets us build a single platform where a contract is created, negotiated, approved, signed, and managed.”

The company is expanding its platform to include AI-powered tools for drafting, negotiation, tracking and compliance, alongside the development of an integrated contract assistant and strengthened certificate infrastructure for legally binding signatures.

“Signit has already built a strong e-signature business, serving more than 700 customers,” Omar Almajdouie, Founding Partner at Raed Ventures, says. “AI-powered contract management is a much bigger opportunity.”

The funding will support the company’s expansion of its product offering as it moves beyond e-signatures into broader enterprise contract management.