Rihal secures $7.5 million in Series A funding led by ITHCA Group to drive expansion and SaaS innovation
Rihal, a leading technology and data services company in the region, has announced the successful first close of its Series A funding round, targeting a total of $15 million. The round is led by ITHCA Group, which invested $7.5 million, reaffirming its confidence in Rihal’s growth trajectory and long-term vision.
Since its seed round in 2021, Rihal has achieved a compound annual growth rate (CAGR) of 119%, expanding its presence across key industries such as government, logistics, telecom, and oil and gas. With a workforce of over 300 professionals — 80% in technical roles, 90% local talent, and 43% women — the company continues to highlight its commitment to sustainable talent development and operational efficiency.
The new capital will fuel Rihal’s regional and international expansion, scaling its proprietary platforms and enterprise SaaS solutions to meet growing demand for data and AI-driven products.
“This investment is a testament to the hard work and dedication of our entire team,” said Azzan Al Kindi, CEO of Rihal. “Since our seed round, we have been laser-focused on sustainable growth, building a strong, diverse team, and delivering exceptional value to our clients. The continued partnership with ITHCA Group provides us with the resources to embark on our next chapter of global expansion and solidify our position as a market leader.”
Said Al Mandhari, CEO of ITHCA Group, added: “Rihal’s performance has been nothing short of exceptional. Their ability to rapidly scale, innovate, and penetrate diverse, high-value sectors is why we are proud to lead their Series A round. We are confident this investment will propel Rihal to new heights as they expand internationally.”
Ameer Al-Alawi, Director of Asset Management at ITHCA Group, emphasized the group’s strategy: “We’re focused on doubling down on portfolio companies that demonstrate both impact and momentum. Rihal is one of those rare players with the right leadership, traction, and vision to scale beyond Oman and into the broader GCC.”
With a second close now open, Rihal is seeking strategic investors aligned with its mission of delivering enterprise products that simplify data management and enable advanced analytics across the region.
