Shipsy, a leading SaaS-based global smart logistics management platform provider, recently announced it clocked around 100% growth in the top line and has established another regional headquarter in Riyadh to aggressively onboard local talent. Shipsy’s first regional HQ in the Middle East was established in Dubai in 2021. It also highlighted that in the Middle East, the company is expected to clock a growth rate of more than 125% and that it had witnessed a 70% increase in talent pool in the past 15 months.
Prior to these developments, in March, Shipsy announced that it had signed a memorandum of understanding (MoU) with Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, to expedite Saudi Vision 2030. The Gulf has been instrumental in the company’s growth trajectory contributing 35% of its overall revenue.
The MoU highlighted that Shipsy would offer its technology at a significant concession for all customers channeled through Monsha’at. The leading logistics SaaS provider also committed to investing USD 10 million over five years in the region to drive technology innovation, research and development, the statement said.
“In 2021-2022, we have grown team members across multiple geographies globally. In the past three months, we have sent offers equivalent to 20% of our headcount. Now, with two regional HQs in the Middle East, we are focusing on hiring top regional talent and further boost our local presence and customer support. We are also aggressively hiring for India as well as global roles across multiple verticals. Continuous growth in customer base across MEA, APAC and SEA, rapid technology innovation and steady increase in human resources have made it possible for Shipsy to become one of the most capital efficient startups with negligible burn, and nearing profitability,” says Harsh Kumar, Chief Strategy Officer, Shipsy.
Shipsy is already working with customers across the Middle East in the manufacturing, express logistics, retail, food delivery and quick commerce industries. Some of these include the world’s auto components manufacturers, the biggest manufacturer and distributor of confectionery, leading express logistics providers in the region, a leading quick commerce grocery provider, an international pizza delivery chain, a Fortune 100 global retailer, amongst others, according to the statement.
