Saudi-based Scalers raises $533K SEED round
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The Saudi-based online competency-based learning and placement platform Scalers has successfully raised $533K in a SEED round led by key angel investors from both the recruitment and talent development world.
Founded in 2020 by Mohammed Alsaeed and Faysal Alghethber, the company set forth to bridge the gap between traditional education and the modern skills required by employers. Scalers identify Saudis with potential talent in sales and business development, trains them in best practices via world-class instructors, before connecting them to employers both within and outside its network.
As recorded in our August 2021 Venture Investment Dashboard, the Saudi ecosystem observed a 113% increase in funds raised YoY, driven by a 13% increase in number of deals closed by Saudi-based startups. This latest SEED round, however, is not just credited to the value of funds raised in the industry, but also the impact it will have on all other industries as Scalers set forth to fuel the talent base in Saudi Arabia and elevate the skill level across the board.
Saudi talents benefit from Scalers providing a one-stop-shop to enter the job market. One application leads to the opportunity to learn and practice with market leaders, expand their network, and accelerate the hiring process through direct access to pre-selected employers in a pay when you match model. Hiring employers are also increasingly joining Scalers’ network due to the time saved during the hiring process, access to pre-trained Saudi talent, and the risk-free pay when you hire model.
Co-founder and CEO Mohammed Alsaeed highlighted: "We're thrilled to have our advisors and angels investing in the team and mission. There is a large market opportunity, as over 300,000 Saudis graduate each year, yet—with double-digit unemployment rates—many are in need of additional market-based training that will help them to fill the millions of Saudi private sector jobs expected to be created through Vision 2030. Competency-based learning, which has been growing 18% annually, can help fill this gap. We're on a mission to ensure that young talents are ready for their dream jobs."
Scalers also offer an ‘enhance existing workforce’ program that allows employers to enroll current employees in Scalers’ training programs to upskill them in client-facing roles, such as sales and business development. The Saudi-based startup plans to utilize its newly acquired funds to further expand its user base and breadth of educational offerings. Co-founder and COO Faysal Alghethber concluded: "What we've seen in terms of the success of our graduates has been nothing short of inspiring. Young talents have come to Scalers to learn, and in some cases, receive offers from companies that they were rejected from just a few months prior. We’re not just finding solutions to address how today’s generation learns, but also how today’s companies hire.”
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