Riyadh-based digital signature and contract management company Signit has raised $15 million in a Series A round led by RAED Ventures, with participation from STV, Seedra Ventures, Takamol Ventures and Suhail Ventures.
Founded in 2021 by Mohamed El Abbouri, the company built its initial business around a digital signature platform designed specifically for the Saudi market, offering Arabic and English templates, Absher identity verification, in-country data storage and a digital audit trail that makes signed documents admissible in Saudi courts, at a time when organisations were choosing between international platforms that lacked local compliance or white-labelled alternatives that offered little differentiation.
In December 2024, Signit secured a comprehensive Trust Service Provider licence from the Digital Government Authority, expanding its capabilities to include digital certificate issuance, electronic seals and timestamping.
The company now serves over 700 government and enterprise customers across 20 industries, up from approximately 400 at the time of the DGA licence roughly 16 months ago.
The new funding will support an expansion into AI-powered contract lifecycle management, with Signit building tools for automated contract drafting, negotiation support, compliance tracking and what it describes as an intelligent contract assistant that centralises how employees access and act on contract data in real time.
The company launched its CLM product two weeks before announcing the round.
El Abbouri said signing is one step in a contract's life, and that what comes before it (drafting, negotiation, approvals) and what happens after (tracking obligations, managing renewals, staying compliant) is where organisations lose the most time and money. The company had always planned to build for the full lifecycle, and the arrival of production-grade AI tooling is what made the expansion viable at scale.
Signit's existing DGA licence and government customer base give it a regulatory and distribution head start over international CLM platforms like Ironclad, Juro and DocuSign, none of which have built for Arabic-language, Saudi-compliant contract environments from the ground up.
