Maharah, a Saudi recruitment company has acquired a stake in Dubai-based recruitment platform Bloovo, the startup announced yesterday. Established in 2013, Maharah is one of the leading recruitment companies of the Kingdom, providing manpower to companies and individuals in the country on rental basis. Bloovo did not disclose the size of stake that Maharah has acquired.
Founded in 2015 by Ahmad Khamis, Bloovo likes to call itself an innovative recruitment platform that uses artificial intelligence and machine learning to help employers with the recruitment process. Bloovo, according to the statement currently has over 2,000 employers from UAE, Saudi, and Kuwait, registered with them. Their website, at the time of writing has over 800 jobs – all from UAE.
Ahmad Khamis, the Co-founder and CEO of Bloovo, commenting on the partnership, said, “We are pleased to have Maharah as a strategic and value-adding partner in Bloovo, and we are confident that Maharah will contribute significantly to Bloovo’s development and will help accelerate its growth across the GCC region over the next two years with a focus on Saudi Arabia, after which international expansion becomes the objective.”
Yousef Alghafari, Maharah’s Chief Executive Officer, said, “Being one the largest human resources companies in the entire MENA region, this acquisition [of stake] marks the beginning of a new era for Maharah in terms of penetrating the fast-paced HR Tech industry, and online recruitment constitutes a natural extension to Maharah’s offering and strategic direction, which supports achieving different future initiatives that Maharah is pursuing such as nationalization programs; and Bloovo with its innovative online offerings fits very well our overall strategy.”
Bloovo, per statement, plans to aggressively expand to Saudi through its partnership with Maharah, and eventually set up offices all over MENA. The startup has ambitious plans of becoming the first Arab-born international recruitment platform.
The startup last year had raised $3 million in a round led by Noble Partners and joined by ProCapita HR Consultancy and different family offices from GCC.