Marn Platform, the Riyadh-based leading flexible work solution startup, closed a post-seed, million dollar funding deal with leading Saudi venture capital (VC) Sukna Ventures.
Almajdia Investment and a few angel investors will also be part of the investor group for the latest fundraising round of Marn.
Marn is to deploy the fresh capital for expanding its team and customer base across Saudi Arabia.
Confirming the latest funding deal, Mohammad AlSabeeh, founder and CEO of Marn, said with the tremendous growth of the local economy, there is a need for providing innovative recruitment solutions to keep up with it.
“We at Marn are working to build the necessary infrastructure for the future of work through integrating recruitment and employee management solutions with fintech, insurance, and professional training solutions, and the fresh capital will be used to further expand our work,” AlSabeeh told Arabian Business.
“We want to make our platform a one-stop-shop for businesses and employees to ensure that everyone has equal opportunities in the changing landscape of work around the world,” he said.
Founded by Mohammad AlSabeeh and Albaraa AlGhefaili, Marn employs its advanced technology utilising artificial intelligence and machine learning to provide highly-effective recruitment solutions as Saudi’s first flexible work platform.
Marn partnerships
For Marn, the latest funding deal comes close on the heels of it striking a partnership deal with the international hospitality major Ritz-Carlton for sourcing employees for the hospitality chain’s Riyadh and Jeddah operations.
The platform enables businesses to meet their staffing needs efficiently while ensuring business continuity, while offering young workers work experiences that help them build out their professional careers.
Fares Bardeesi, Managing Partner of Sukna Ventures, said flexible work is an innovative work model that emerged with the rise of technology and was enabled by new regulation in the country.
“Marn Platform is the local pioneer in flexible work, and so I view various partnerships recently made by the company as an illustration of the unique positioning it has taken as the most suitable option in this domain for major players in different sectors as well as high-caliber job seekers,” Bardeesi said.
Marn currently operates in 26 cities in Saudi, working with over 300 companies in various sectors, including listed companies such as Saudi Ground Services, Elm and Alsaif Gallery.
The platform has created over 50,000 different job opportunities in the past years, while the number of registered job seekers on the platform has exceeded 350,000 individuals.
Flexible work jobs registered a seven-fold increase in Saudi Arabia during 2022 compared to 2021, and it is expected to increase further in the coming years due to the increasing demand for such jobs.
According to the Saudi Minister of Human Resources, Ahmed Al-Rajhi, the kingdom targets reaching more than 1.5 million flexible workers by 2030, and it is striving to adopt modern working models such as flexible work, freelancing, and remote work to build a strong economy with distinguished local talent in the Saudi market.
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