The Saudi Telecom-anchored STV led the round, while Raed Ventures also invested in cloud communications technology provider Unifonic.
Saudi Arabia-based cloud communications technology developer Unifonic has completed a $21m series A round led by STV, the venture capital fund anchored by telecommunications firm Saudi Telecom, Forbes has reported.
Raed Ventures, the venture capital branch of conglomerate Almajdouie, also participated in the round, as did co-investment fund Endeavor Catalyst, VC fund Riyad Taqnia Fund and FLM.
Unifonic has created technology that enables organisations to build cloud communications tools such as messaging and phone capabilities or two-factor authentication, into their…
