Data Gumbo announced the launch of an office in Khobar, Saudi Arabia. The new location will accelerate regional traction with leading industrial enterprises and continue the company’s record growth on a global scale. The company said in a statement that it is “establishing a local presence to take advantage of the regional business opportunities ripe for smart contract network adoption.”
In August 2021, Data Gumbo closed $7.7 million in Series B funding with continued participation from Saudi Aramco Energy Ventures, the corporate venture capital fund of Aramco Ventures. The funding has allowed Data Gumbo to expand global operations and enable accurate, on-time and automated invoicing and payments in additional use cases and verticals. With its office in Khobar, Data Gumbo is making its smart contract network available to the Middle East energy market and beyond.
“The Kingdom of Saudi Arabia and broader Middle East present outstanding opportunities for our company. We are committed to putting down roots, and to the long-term growth of a Data Gumbo workforce in the Kingdom and beyond,” said Andrew Bruce, CEO, Data Gumbo. “Establishing a regional office provides companies in the Greater Middle East with increased access to our smart contract network, GumboNet. The more the network grows, the more value it delivers to local and global members, as well as investors. We look forward to expanding our presence to best support demand and set the standard for how industrial organizations do business by guaranteeing transactional certainty in commercial relationships.”
Mohamed Ibrahim Marzouk, recently appointed as Data Gumbo’s Saudi Arabia Country Manager, will lead regional expansion efforts.