Dubai: Swyt, a UAE-based company offering an all-in-one platform to simplify and secure IT operations for businesses, has successfully concluded a significant fundraising round.
This seed funding will propel Swyt's mission to accelerate research and development efforts on their platform and expand its presence throughout the Gulf region. The funding was supported by Business Angels specializing in new-tech investments, driven by their interest in bringing innovative solutions to the region. While the Swyt model is the first of its kind in the Gulf, it is a fast-developing model in the US and Europe.
Swyt has identified three major problems affecting the IT sector. Firstly, increasingly complex IT operations cause each employee to lose over 109 hours on average per year dealing with IT issues. Secondly, IT security threats are widespread, with nearly 90% of businesses lacking basic IT security and compliance solutions. Lastly, rising costs are a significant concern, as IT expenses have surged 2.3 times between 2018 and 2023, according to a Gartner report.
To address these challenges, Swyt’s Software as a Service (SaaS) streamlines and secures IT operations with innovative AI-powered IT products. This includes managing, securing, and tracking all devices, applications, and software, as well as enabling seamless onboarding and offboarding of employees. Its Mobile Device Management (MDM) solution deploys IT policies such as data encryption, multi-factor authentication, password management, and single sign-on to secure IT environments and protect businesses. Moreover, Swyt's real-time IT helpdesk supports employees straight from Slack, Teams, or WhatsApp.
Additionally, Swyt’s Device as a Service (DaaS) offers a leasing solution for IT equipment, allowing businesses to efficiently finance their IT needs while protecting cash flow and monitoring IT operating expenses. Companies using Swyt reduce their IT budgets by at least 40%.
“The region is eager for innovative products, with a strong demand for solutions that aid in automation and security. This is often a massive headache for businesses, and our platform removes that burden, allowing companies to refocus on what truly matters: their growth," said Edouard Bouvet, CEO of Swyt.
Swyt benefits from incubation by Dubai Holding’s In5 Tech, which provides a supportive environment for its growth and innovation. Being part of the Microsoft Founders Hub further aids Swyt’s development by providing access to crucial resources. Certified with ISO 27001, Swyt supports a diverse client base in the UAE across various sectors, including real estate (Nomad Homes), retail (Eyewa), fintech (Credable), e-commerce (The Luxury Closet), and the digital sector (Acquisit).
