Swyt Secures Funding to Improve IT Operations in the Gulf
The funding was backed by business angels specializing in new-tech investments.
Swyt, a UAE-based company providing an all-in-one platform to simplify and secure IT operations for businesses, has raised an undisclosed amount in its Seed round. This funding will support Swyt's enhance its platform's research and development and expand its presence throughout the Gulf region.[1]
The funding was backed by business angels specializing in new-tech investments, interested in introducing innovative solutions to the region.
Founded in 2022, Swyt addresses three main issues in the IT sector. First, complex IT operations cause each employee to lose over 109 hours annually dealing with IT issues. Second, IT security threats are widespread, with nearly 90% of businesses lacking basic IT security and compliance solutions. Lastly, rising IT costs are a concern, having increased 2.3 times between 2018 and 2023, according to a Gartner report.
Swyt’s Software as a Service (SaaS) aims to secure IT operations with AI-powered IT products. These include managing, securing, and tracking all devices, applications, and software, as well as facilitating seamless onboarding and offboarding of employees. Its Mobile Device Management (MDM) solution enforces IT policies like data encryption, multi-factor authentication, password management, and single sign-on to secure IT environments and protect businesses. Additionally, Swyt's real-time IT helpdesk supports employees directly through Slack, Teams, or WhatsApp.
Swyt’s Device as a Service (DaaS) offers a leasing solution for IT equipment, allowing businesses to finance their IT needs while protecting cash flow and monitoring IT operating expenses.
Swyt benefits from incubation by Dubai Holding’s In5 Tech, which provides a supportive environment for growth and innovation.
Certified with ISO 27001, Swyt supports a diverse client base in the UAE across various sectors, including real estate with Nomad Homes, retail with Eyewa, fintech with Credable, e-commerce with The Luxury Closet, and the digital sector with Acquisit.