Swyt, a UAE-based company specializing in simplifying and securing IT operations for businesses, has successfully concluded a significant fundraising round. This funding was supported by a group of angel investors specializing in new technology investments, driven by their desire to bring innovative solutions to the region. While the Swyt model is the first of its kind in the Gulf, it is rapidly developing in the United States and Europe.
IT Sector Challenges
Swyt has identified three major problems affecting 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 around 90% of businesses lacking basic security and compliance solutions. Finally, rising costs are a significant challenge, with IT expenses increasing by 2.3 times between 2018 and 2023, according to a Gartner report.
Innovative Solutions for Complex Challenges
To address these challenges, Swyt’s Software as a Service (SaaS) provides innovative AI-powered solutions to streamline and secure IT operations. These solutions include managing, securing, and tracking all devices, applications, and software, as well as facilitating the seamless onboarding and offboarding of employees. The Mobile Device Management (MDM) system implements IT policies such as data encryption, multi-factor authentication, password management, and single sign-on, helping to secure IT environments and protect businesses. Additionally, Swyt’s real-time IT helpdesk supports employees through platforms like Slack, Teams, and WhatsApp.
Swyt also offers Device as a Service (DaaS), which provides an IT equipment leasing solution. This helps businesses efficiently finance their IT needs while protecting cash flow and controlling IT operating expenses. Companies using Swyt’s services reduce their IT budgets by at least 40%.
Edouard Bouvet, CEO of Swyt, commented, “The region is eager for innovative products, with strong demand for solutions that enhance automation and security. These are often major concerns for businesses, and our platform alleviates this burden, allowing companies to focus on what truly matters: their growth.”
Swyt benefits from incubation by Dubai Holding’s In5 Tech, which provides a supportive environment for its growth and innovation. Membership in the Microsoft Founders Hub further aids Swyt’s development by providing access to vital 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).
