You can be on Entrepreneur’s cover!

KSA-Based Maharah Acquires A Strategic Stake In UAE's HR Tech Startup Bloovo The partnership with Maharah is expected to accelerate Bloovo's growth across the GCC region.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Bloovo

Bloovo, one of UAE's algorithm-based online recruitment platforms, has brought Saudi-based Maharah Human Resources Company on board as a strategic shareholder.

The partnership is expected to help accelerate Bloovo's growth across the GCC region over the next two years, with a special focus on Saudi Arabia, after which the team will pursue international expansion.

Founded in 2016, the AI and machine learning-enabled Bloovo platform has amassed a database of over 5,000 employers from UAE, Saudi Arabia and Kuwait.

Yousef Alghafari, Maharah's Chief Executive Officer, explained that the acquisition would enable the implementation of new initiatives that are aligned with Maharah's strategy, such as developing a strong database of professionals and supporting Maharah's recruitment process.

"Being one the largest human resources companies in the entire MENA region, this acquisition marks the beginning of a new era for Maharah in terms of penetrating the fast-paced HR Tech industry," Alghafari added. "Online recruitment constitutes a natural extension to Maharah's offering and strategic direction, which supports achieving different future initiatives that Maharah is pursuing, such as nationalization programs."

Last year, Bloovo closed a US$3 million funding round, which was led by GCC-focused private equity firm Noble Partners with participation from ProCapita from Kuwait, Oman's Mohamad Moosa Abdulrahman Investment office, Al Serkal and Al Shafar from the UAE, among others.

Having acquired a big market share in the UAE and Kuwait, Bloovo now plans not only to aggressively expand in Saudi Arabia, but to set up offices all over the MENA region as well as in selective strategic international markets. Furthermore, it is in the process of setting up its dedicated technology lab, which will fast-track its technology innovation and development to continue differentiating itself from the competition.

Related: UAE HR Tech Startup Bloovo.com Closes US$3 Million Funding

Starting a Business

6 Effective Funding Strategies for Startups

Navigating startup financing is complex. Entrepreneurs find themselves at the crossroads of innovation and survival, where a single decision can either fuel their dreams or extinguish their aspirations. Here we look at six ways you can finance your startup to support your business for long-term success.

Leadership

You Won't Have a Strong Leadership Presence Until You Master These 5 Attributes

If you are a poor leader internally, you will be a poor leader externally.

Side Hustle

He Took His Side Hustle Full-Time After Being Laid Off From Meta in 2023 — Now He Earns About $200,000 a Year: 'Sweet, Sweet Irony'

When Scott Goodfriend moved from Los Angeles to New York City, he became "obsessed" with the city's culinary offerings — and saw a business opportunity.

Business News

Microsoft's New AI Can Make Photographs Sing and Talk — and It Already Has the Mona Lisa Lip-Syncing

The VASA-1 AI model was not trained on the Mona Lisa but could animate it anyway.

Money & Finance

Top 10 Free Invoicing Software Solutions for Small Businesses

Getting paid is fun but billing seldom is. Happily, there are many solutions every startup can afford.

Business News

Samsung Makes 6 Day Workweeks Mandatory for Executives as the Company Enters 'Emergency Mode'

Samsung said its performance "fell short of expectations" last year. Now executives are required to work weekends.