Signit raises $15M to build AI contract platform
Raed Ventures leads Signit round to expand beyond e-signatures
#SaudiArabia #funding — Riyadh-based digital trust and contract management company Signit has raised $15 million in a Series A round to expand its AI-powered contract lifecycle management platform across Saudi Arabia. The round was led by Riyadh-based venture capital firm Raed Ventures, with participation from STV, Seedra Ventures, Takamol Ventures and Suhail Ventures. Founded in 2021 by Mohamed El Abbouri, Signit is licensed as a Trust Service Provider by the Saudi Digital Government Authority and currently serves more than 700 customers across government, financial services, healthcare and enterprise sectors. The funding will drive expansion from e-signatures into a full AI-powered contract drafting, negotiation, compliance and management platform.
SO WHAT? — Contract management is one of the most time-consuming and error-prone processes in any large organisation and remains one of the least digitised processes in the Gulf. Signit has already built a credible e-signature business across 700 Saudi customers. The move into AI-powered contract lifecycle management is a logical and significantly larger opportunity.
KEY POINTS:
Signit has raised $15 million in Series A funding round led by Raed Ventures, with STV, Seedra Ventures, Takamol Ventures and Suhail Ventures participating. The raise will fund AI capability development, contract automation and the strengthening of Signit’s digital trust certificate infrastructure.
Founded in 2021 by Mohamed El Abbouri, Signit serves more than 700 customers across government, financial services, healthcare and enterprise in Saudi Arabia, having built its initial business around legally binding digital signatures as a licensed Trust Service Provider under the Saudi Digital Government Authority.
The company is now expanding beyond e-signatures into AI-powered Contract Lifecycle Management (CLM), giving organisations the ability to draft, negotiate, track and manage contracts within a single secure, enterprise-grade platform.
Three specific uses of the funding have been identified: expanding the platform with AI-powered drafting, negotiation and compliance capabilities; building an intelligent contract assistant giving employees a single point of access to contract information; and strengthening the certificate infrastructure underpinning every legally binding digital signature.
Raed Ventures led the round on the basis that AI-powered contract management represents a substantially larger market than e-signatures alone, with Signit’s speed, focus and team as key factors in the investment decision.
The raise arrives as Saudi Arabia designates 2026 as the Year of AI, providing institutional momentum for AI-first enterprise software companies targeting government and regulated industry customers across the Kingdom.
[Written and edited with the assistance of AI]