Dubai-based startup Cercli, a Y Combinator alum, is reshaping the enterprise software scene in the Middle East and North Africa (MENA) by offering an AI-powered alternative to fragmented HR, payroll, and compliance systems. Founded by ex-Careem operators Akeed Azmi and David Reche, the company recently closed a $12 million Series A funding round led by European VC Picus Capital.

Cercli’s current platform is a complete rebuild from its previous $4 million seed iteration, designed to be AI-native from inception. The startup reports a more than tenfold revenue increase over the past year, processing over $100 million in annual payroll across 50 countries.

CEO Akeed Azmi explained that Cercli’s AI-first approach gives it a competitive edge in a crowded HR-tech market that includes global giants like SAP and Oracle, as well as startups such as Deel and Remote. The platform now features multi-country payroll, AI-driven recruitment, and agent-powered internal operations for finance and accounting. This has allowed the 14-person team to maintain a 21% month-to-month revenue growth rate while rapidly onboarding clients in just two to three days—a stark contrast to the months required by legacy systems.

Cercli’s integrated solution addresses a significant pain point in the MENA region, where companies often rely on multiple point solutions for HR and payroll. Current clients include Vision Bank, Global Climate Finance Centre, Huspy, Lean Technologies, and Ziina.

Picus Capital’s investment marks its first foray into MENA and joins existing investors Y Combinator, Afore Capital, and COTU Ventures. With this capital, Cercli plans to expand its AI-native offerings and capture a larger share of the $5.8 billion HR software market in MENA. Robin Godenrath, founding partner at Picus Capital, said, “We’ve seen this business model succeed globally within our portfolio, and we are excited to back Cercli as they continue to grow market share through new customers and product launches.”