Page 27 - UNIFONIC PR REPORT - DECEMBER 2023

12/27/23, 2:11 PM Unifonic Selected In First Cohort Of National Technology Development Program's Bridge Initiative | MENAFN.COM
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.

In recent years, Saudi Arabia experienced substantial growth in its entrepreneurial ecosystem,

driven by the Saudi Vision 2030. The growing startup community reflects the country's
commitment to diversifying its economy and decreasing its dependence on oil trade.

Currently, the Saudi startup community is well-positioned as a hub for innovation and
disruption in the region, especially with the support of the government, investors, and startup

incubators. Additionally, by embracing change and creating innovative solutions, these
startups are poised to meet the demands of both local and international markets.

Unifonic, honored to be selected for the prestigious Saudi Unicorns Program earlier this year,

is on an inspiring trajectory to become a software unicorn. Over the years, Unifonic has
assisted numerous clients in implementing omnichannel customer experiences as part of their

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