Ogram, a leader in flexible workforce solutions, has announced the successful completion of a $3 million non-dilutive investment from Tenami Capital. Tenami Capital, a pioneer in revenue-based growth capital for high-growth firms, has expressed confidence in Ogram’s aim to revolutionize workforce management and drive expansion into new markets.
Karim Kouatly and Shafiq Khartabil founded Ogram in 2017 as a digital staffing platform that allows businesses to book and manage employees on demand. The platform delivers flexible, on-demand staffing solutions by linking businesses with a network of vetted freelancers from various industries. This strategic alliance comes as Ogram expands into Saudi Arabia, a region with enormous development potential in the retail and hotel sectors. The cash will boost the company’s working capital, allowing for speedier payouts and providing Ogrammers more control over their pay cycles. This initiative aims to increase worker happiness, improve retention, and benefit businesses by assuring a more engaged and dependable staff.
Commenting on the funding, Shafiq Khartabil, Co-founder and CEO of Ogram, said:
We are excited to partner with Tenami Capital. This forward-thinking financial partner shares our vision for transforming workforce flexibility. This funding will allow us to deepen our impact in Saudi Arabia and beyond, ensuring our clients and Ogrammers experience the best workforce solutions.
As the company prepares for 2025, this financial injection positions it for future success by allowing it to broaden its global reach and advance its purpose of providing flexible staffing solutions that fit the needs of both employers and employees.
Balsam Danhach, Ogram’s CFO, added:
The funding will also enable Ogram to roll out its early payout programme, providing financial stability for its workforce and creating a seamless system to meet their needs. This is more than just financial backing; it’s an investment in the success and well-being of our Ogrammers. By strengthening working capital, we can support their financial needs while ensuring higher retention and exceptional service for our clients.
Natasha Hannoun, Managing Partner of Tenami Capital, also stated:
We are delighted to partner with Ogram as it continues transforming the staffing industry. This marks Tenami Capital’s fourth investment since starting in 2021, with more to be announced in the coming months as demand for non-dilutive capital grows and the Gulf region experiences unprecedented economic growth. Ogram represents the type of innovative, high-growth company that Tenami Capital is committed to supporting as we help businesses scale and succeed across our region.
In July 2024, Ogram raised an undisclosed funding round, led by Oraseya Capital, Aditum Investment Management, and Everywhere VC.
