Cercli Raises $12 Million Series A Led by Picus Capital for AI-Native HR Platform

Dubai-based Cercli, an AI-powered HR and payroll platform for MENA businesses, has raised an oversubscribed $12 million Series A round led by Picus Capital, according to TechCrunch. The round also included participation from Knollwood Investment Advisory, Y Combinator, Afore Capital, and COTU Ventures.

Founded by Akeed Azmi and David Reche, Cercli provides a unified system for human resources, payroll, and compliance. Over the past year, the company has scaled revenue more than tenfold and now processes over $100 million in payroll annually across 50 countries. The platform has been rebuilt to be AI-native, allowing faster onboarding and multi-country payroll processing.

Cercli’s client base includes companies such as Vision Bank, the Global Climate Finance Centre, Huspy, Lean Technologies, and Ziina. The company’s internal AI agents also manage treasury and accounting operations. With the new funding, Cercli plans to develop additional AI-native products and expand its presence in the $5.8 billion MENA HR software market.

The investment marks Picus Capital’s first in the MENA region. The firm has previously backed HR software companies such as Personio, Multiplier, Deel, Maki, and JetHR.