Page 20 - UNIFONIC PR REPORT - DECEMBER 2023

12/27/23, 2:10 PM Riyadh Daily

Riyadh "Riyadh Daily"
Unifonic Selected in First Cohort of National Technology Development Program’s Bridge
Initiative

Unifonic, the Middle East’s leading customer engagement platform, has been selected as one of the companies in the first cohort of the
Bridge Initiative by the National Technology Development Program (NTDP). The program aims to support high-growth startups to
expand into global markets by providing various financial subsidies.

The selection of Unifonic in the initiative was announced during TechXpand, a premier technology event organized by Saudi Arabia’s
Ministry of Communication and Information Technology in Riyadh. In addition to the support provided by NTDP and the Ministry, the
startup's accomplishments further link to the significant support from various other authorities in the country, including Saudi Unicorns.
Ahmed Hamdan, CEO and Co-Founder of Unifonic said: “We are delighted to be selected in the Bridge Initiative’s first cohort. This
accomplishment reinforces our pioneering role in the industry, recognizing our relentless efforts to provide an affordable enterprise-grade
multilingual omnichannel communications platform across the Middle East. We extend our gratitude to our team, clients, partners, and
the government for their unwavering support, which has bolstered our position as a global market leader in the SaaS sector.”

The National Technology Development Program plays a crucial role in advancing the technology ecosystem in Saudi Arabia. Through
various interventions and support mechanisms, it enhances effectiveness and fosters sustainable growth, aligning with the initiatives of
other stakeholders. Additionally, the program empowers key enablers in the technology market, who strive to position the country as a
preferred regional hub for innovation and industry investment.

Under the program, Bridge Initiative participants, including Unifonic, can leverage various benefits to enhance their regional and global
presence. One of the key benefits for national companies in the IT and emerging technologies sector is the extensive support to increase
local market share and global exports. Similarly, the program encourages the local private sector to embrace IT solutions, initiatives,
applications, and services. It also helps attract both local and global companies that support innovation and research centers that are
key for the IT sector. Furthermore, NTDP contributes to the localization of the IT sector, particularly by increasing local content in the field
of emerging technologies.

Unifonic’s selection in the initiative marks a significant step in its long-standing commitment to support its client base in the Middle East
region. Since its inception in 2006, the company consistently developed its product line and offers an affordable enterprise-grade
multilingual and omnichannel communications platform across the region. Furthermore, Unifonic achieved a groundbreaking milestone
by securing over USD 21 million in the largest-ever Series A financing for a Saudi startup in 2018. The subsequent Series B round saw
an impressive increase, with the startup raising a remarkable USD 125 million.

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