Oqood, a UAE-based company specializing in artificial intelligence solutions for the legal sector, has successfully closed a $1 million Seed funding round. The investment was led by Sanabil Investments, the venture capital arm of Saudi Arabia’s Public Investment Fund (PIF), signaling strong investor confidence in the region’s burgeoning LegalTech space.
Fueling the Legal Sector’s Digital Transformation
The newly acquired capital will be strategically allocated to advance Oqood’s product development and bolster its AI-powered legal solutions. This investment aims to accelerate the digital transformation within the legal industry, empowering law firms and corporations to enhance operational efficiency, streamline workflows, and improve the overall quality of their services through intelligent digital platforms.
Tapping a Growing Global Market
Khalid Al Rashed, Founder and CEO of Oqood, highlighted that the funding round reflects a growing investor appetite for the LegalTech sector. He noted that the global market value for legal technology surpassed $31 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 9.4% in the coming years. This robust market growth provides a significant opportunity for innovative platforms like Oqood to capture value.
Strategic Expansion on the Horizon
With the fresh infusion of funds, Oqood is set to expand its service offerings to a wider range of law firms and legal departments across the region. The company has outlined a clear roadmap for expansion into key Gulf markets, with further plans for a global presence in the near future. The focus will be on delivering smart digital platforms that accelerate legal processes and improve client communication.
About Oqood
Oqood is a UAE-based technology company dedicated to developing advanced artificial intelligence solutions for the legal industry. Its mission is to drive digital transformation by providing law firms and companies with intelligent platforms that enhance operational efficiency, accelerate workflows, and improve the quality of legal services.
Source: Jawlah
