# Sary Information Technology Company

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sary-information-technology-company

- Industry: Consumer Services
- Headquarters: Dammam, Saudi Arabia
- Website: www.sary.com
- Total disclosed funding: $112M
- Latest round: Series C (Dec 19, 2021)
- Investors on record: 9

## About

Established in 2018 by CEO Mohammed-Al-Dowsary and Khaled-Al-Sairi, and based in Riyadh, Saudi Arabia, Sary Information Technology Company (Sary), is a B2B marketplace that connects small businesses with wholesalers and brands. The company is backed by investments from Raed ventures, MSA, VentureSouq, and STV among others. In 2020, Sary raised USD 6.6 million in Series A funding led by new investor RAED Ventures. In 2021, Sary Information Technology Company raised USD 30.5 million in Series B funding led by new investor VentureSouq, with participation from other new and returning investors. As of 2021, the Sari app has over 100,000 downloads from business owners serving the grocery and medium-sized supermarket segment, cafes, and restaurants in over 15 cities. 

The company’s product is a mobile application that allows users to access over 30,000 SKUs from top brands and wholesalers. Sary acts as a conduit between small and medium enterprises and wholesalers of consumer goods. The company provides digital procurement reports that better equip small and medium-sized business owners for the tax return stage. Consumers can purchase all goods in bulk. The company also provides a platform for small businesses to sell. 

The company generates revenue when the consumers purchase groceries in bulk online via its mobile application and pay with cash-on-delivery, or e-bill through Sadad. 

Sary plans on utilizing the Series A funding to expand its operation in Saudi Arabia, open two new offices, and serve the needs of additional 25 cities. Sary also plans on utilizing the Series B funding to grow its geographical footprint, expand its suite of products and services, and move into new categories. The company also plans on developing FinTech products to serve the fintech needs of clients.

## Funding rounds

- Series C, Dec 19, 2021, $75M — MSA Capital, Endeavor Catalyst, RAED Ventures, VentureSouq, Rocketship.vc, STV, Sanabil Investments, Wafra International Investment Company
- Series B, Apr 6, 2021, $31M — MSA Capital, RAED Ventures, VentureSouq, Rocketship.vc, STV, Derayah Ventures
- Series A, Apr 2, 2020, $6.6M — MSA Capital, RAED Ventures, Derayah Ventures

## Investors

- MSA Capital (https://capitalatlas.ai/funds/msa-capital) — Series A, Series B, Series C
- RAED Ventures (https://capitalatlas.ai/funds/raed-ventures) — Series A, Series B, Series C
- Derayah Ventures (https://capitalatlas.ai/funds/derayah-ventures) — Series A, Series B
- VentureSouq (https://capitalatlas.ai/funds/venturesouq) — Series B, Series C
- Rocketship.vc (https://capitalatlas.ai/funds/rocketship-vc) — Series B, Series C
- STV (https://capitalatlas.ai/funds/stv) — Series B, Series C
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series C
- Sanabil Investments (https://capitalatlas.ai/funds/sanabil-investments) — Series C
- Wafra International Investment Company (https://capitalatlas.ai/funds/wafra-international-investment-company) — Series C