Tue
Nov 2, 2010

BusinessClouds Raises SAR 2,000,000 Seed Capital

BusinessClouds Raises SAR 2,000,000 Seed Capital

BusinessClouds announced today that it secured two million Saudi Riyals, approximately USD 533k, as seed capital. The money will go into establishing the development operations for BusinessClouds Software Delivery Platform.

“This money should help us realize what we planned for in the past few years”, said Saleh Almutairi, the company co-founder and CEO. “We expect to turn in a working proof of concept in less than a 18 months.”

The company expects that when this platform is complete, it will answer for the challenge explained by Gartner’s VP for Research, Mr. Earl Perkins in one of his articles published in Dec 2009.

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