Swyt, a UAE-based company offering an all-in-one platform to simplify and secure IT operations for businesses, has successfully concluded a significant seed funding round. This new investment will propel Swyt’s mission to enhance research and development on their platform and expand its presence throughout the Gulf region. The funding was supported by business angels specializing in new-tech investments, eager to bring innovative solutions to the region.
Swyt’s model, though the first of its kind in the Gulf, follows a fast-developing trend seen in the US and Europe. The company has identified three major issues plaguing the IT sector: increasingly complex IT operations, widespread IT security threats, and rising costs. According to Swyt, the average employee loses over 109 hours per year dealing with IT issues, nearly 90% of businesses lack basic IT security and compliance solutions, and IT expenses have surged 2.3 times between 2018 and 2023, as per a Gartner report.
To tackle these challenges, Swyt offers a Software as a Service (SaaS) solution that streamlines and secures IT operations with AI-powered products. This includes managing, securing, and tracking devices, applications, and software, as well as enabling seamless onboarding and offboarding of employees. Swyt’s Mobile Device Management (MDM) solution enforces IT policies such as data encryption, multi-factor authentication, password management, and single sign-on, ensuring secure IT environments for businesses. Additionally, Swyt’s real-time IT helpdesk supports employees directly through Slack, Teams, or WhatsApp.
Swyt also provides a Device as a Service (DaaS) option, offering a leasing solution for IT equipment. This service allows businesses to efficiently finance their IT needs while protecting cash flow and monitoring IT operating expenses. Companies utilizing Swyt’s solutions have reported a reduction in 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, providing a supportive environment for growth and innovation. As part of the Microsoft Founders Hub, Swyt gains access to crucial resources aiding in its development. 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).
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