Master Works, has closed $40 million (150 million SR) in one of Saudi’s biggest technology investments to date. The deal was done by Merak Capital, an investment firm focused on technology companies and licensed by the Capital Market Authority of Saudi Arabia.
Master Works offers products and services across multiple technology fields such as data management, artificial intelligence, data strategy, API management, software development, and Robotic Process Automation (RPA). The business is headquartered in Riyadh with offices in Egypt, UAE, Jordan, and India.
Recently, the company has succeeded in launching numerous in-house developed software such as Digital PMO (P+), Digital SMO (S+), Baseer, and Diwan. The firm served more than 140 clients across government and private sectors in the Kingdom, with the support of more than 20 global technology providers.
As a leading technology investor in the region, Merak Capital intends to support Master Works ambitious goals and pave the way for public listing in Saudi Arabia.
“With the vision of the executive team, we are confident the company will hit more achievements in the coming years. Merak Capital is proud to be part of this distinguished journey, which is an embodiment of an inspiring success story for all stakeholders in the information technology sector in the Kingdom of Saudi Arabia.”