Page 30 - UNIFONIC PR REPORT - DECEMBER 2023

12/27/23, 2:11 PM Unifonic Selected in First Cohort of National Technology Development Program’s Bridge Initiative | Web Release
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 digital transformation. This has reshaped the brands’ engagement

with their audiences, surpassing expectations for seamless digital interactions. It has also enabled contemporary,
dependable, and effective business messaging across industries with its no-code, automation and orchestration platform.
The strategic acquisition of Sestek’s AI-powered conversational suite in 2022 further strengthened Unifonic’s AI

solutions, empowering the customer interaction platform to automate personalized end-to-end omnichannel experiences.

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