BRKZ Secures $31 Million Series B Funding

BRKZ, a Riyadh-based company that facilitates the procurement of high-quality building materials through an AI-enabled platform, has successfully raised $31 million in a Series B funding round. The round was co-led by Wa'ed Ventures and 500 Global, with additional participation from BECO Capital and Anb Seed Fund.

Company Overview

Founded by Ibrahim Manna, BRKZ offers a streamlined platform where customers can request quotes for building materials within seconds. The company connects local and international suppliers with businesses in the construction industry, offering flexible payment solutions that include deferred payment options.

Funding Details

The $31 million raised in this Series B round will be utilized to accelerate the development of BRKZ's AI-powered pricing and fulfillment engine. This investment also supports the rollout of embedded financing solutions aimed at enhancing the procurement experience for contractors and suppliers.

Strategic Use of Funds

BRKZ plans to use the new capital to further develop its technology and expand its market reach. The funding will aid in scaling the AI-driven aspects of its platform, which have already processed over $1.37 billion in requests for quotations (RFQs). Additionally, the funds will support the company's growth amid ongoing geopolitical and supply chain disruptions.

Growth Trajectory

BRKZ has experienced significant revenue growth, with a 250% increase last year. The company expects to triple its revenues by the end of 2026, highlighting its strong market position in Saudi Arabia and the broader Gulf Cooperation Council (GCC) region.

Investor Perspectives

Wa'ed Ventures and 500 Global, the lead investors in this round, bring valuable expertise and resources to support BRKZ's ambitious growth plans. The partnership aims to solidify BRKZ's position as a key player in the regional construction materials market.

BRKZ's innovative approach to procurement and supplier connections is set to transform the way building materials are sourced and delivered in Saudi Arabia and beyond.