Signit, a Saudi Technology company providing digital signatures and AI-powered contract management, today announced it has raised $15 million in Series A funding to expand its platform across Saudi Arabia. The company is licensed as a Trust Service Provider by the Saudi Digital Government Authority.
The round was led by Raed Ventures, with participation from STV, Seedra Ventures, Takamol Ventures, and Suhail Ventures.
Founded in 2021, Signit is the platform organizations use to create, sign, and manage agreements digitally — from legally binding digital signatures to full contract lifecycle management. The company serves over 700 customers across government, financial services, healthcare, and enterprise sectors in Saudi Arabia. With Series A funding, Signit is expanding beyond e-signature into AI-powered Contract Lifecycle Management (CLM) — giving organizations the ability to draft, negotiate, track, and manage contracts in one secure enterprise-grade platform, using AI.
We started with digital signatures because that’s where the market was. But signing is just one step in a contract’s life. What comes before and after the signature is where organizations lose the most time and money”, said Mohamed El Abbouri, Co-Founder and CEO of Signit. “This funding lets us build the full picture: a single platform where a contract is created, negotiated, approved, signed, and managed — all compliant, all built for how business actually works here.”
The funding will be used to expand Signit’s contract management platform with AI-powered drafting, negotiation, and compliance capabilities, build an intelligent contract assistant that gives employees one place to find and act on contract information, and strengthen the certificate infrastructure that makes every digital signature legally binding. Signit has already built a strong e-signature business, serving more than 700 customers across government and enterprise, said Omar Almajdouie, Founding Partner at Raed Ventures. We led this round because we believe Signit can define the next phase of this market. AI-powered contract management is a much bigger opportunity, and the company has the speed, focus, and team to lead it.
“Contract management is a natural category for AI transformation”, said Ahmed Al Naimi, General Partner at STV. Signit has the right product vision and market positioning to apply AI in a way that delivers real value to enterprises.
With this funding, Signit is positioned to become the default contract platform for enterprise and government in Saudi Arabia.
