Iliad Partners
Founded in Dubai in 2014, Iliad Partners is a venture capital firm focusing on early-stage investments in technology startups across the Middle East and North Africa (MENA) region. The company primarily invests in sectors such as software, internet-based ventures, e-commerce enablement, fintech, and digital transformation of vertical industries.
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Past deals in Riyadh
Penny Software
Seed Round in 2024
Penny Software is a cloud-based procurement and spend management software company that digitizes and manages the full procurement cycle from request to payment. The platform supports RFQ management, vendor quotations, purchase orders and payments, and offers an action-driven dashboard, budget tracking, timeline views, product comparison, and customizable reporting. It provides modular, highly customizable procurement products for mid-size enterprises and also offers a B2B marketplace-as-a-service for private or public marketplaces, distributors, GPOs, and procurement as a shared service. Based in Riyadh, Saudi Arabia, Penny Software was founded in 2020.
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