Saudia Arabia-based AI-powered firm Lucidya has received $6 million in the second round of funding.
The company’s proprietary Artificial Intelligence (AI) and Arabic Natural Language Processing technologies allow brands to understand and communicate with Arabic-speaking customers and to monitor online interactions in Arabic. Using AI, the interactions are then analysed to provide insights that can be used in decision making.
The second round of funding was led by Rua Growth Fund with participation from M.A.L Ventures and AlRashed Group, and other venture capital firms. Existing Lucidya investors also participated in the round, including Venture Souq.
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“We are leveraging our Arabic-tailored AI to bridge the gap between businesses and their customers and make customer voices heard loud and clear. This funding will enable us to expand our offering and bring it to more markets, enabling more businesses to reap the benefits of AI-powered Customer Experience Management,” said Abdullah Asiri, Founder and CEO, Lucidya.
The marketing technology solutions global market was estimated to be worth $344.8 billion in 2021. The funding will be used to expand Lucidya’s product offering and to create additional value for the company’s clients, according to the company.
