SINC, a Bahrain based Software-as-a-Service (SaaS) mobile platform, has raised $250,000 in a pre-seed funding round led by Dubai Angel Investors and other regional angel investors. The funds will be used in the short-term to expand SINC’s development team.
SINC aims to simplify the management of a mobile workforce by operating timesheets, location tracking, staff scheduling, and job tracking by improving the reporting on staff tardiness and no-shows, as well as improving productivity and accountability with job costing analysis capabilities. SINC claims its application reduces payroll administration time by 98 per cent and reduces payroll costs by 10-15 per cent.
“We are trying to win the domain of blue-collar [small to medium-sized enterprise] SME job tracking and costing, so nailing this feature is the next big priority for us and what we have been working towards since we started building SINC two years ago,” said Sam Dolbel, co-founder and chief executive officer (CEO) at SINC. “We are now on the cusp of implementing the solution, so it is a very exciting time for us.”
The company currently has 4,000 businesses customers on its platform with 90 per cent based in the US and Canada. SINC will grow its engineering team in Bahrain where operating costs are relatively low according to Dolbel.
SINC is looking to initially expand its presence and customer base across North America, targeting the estimated 1.5 million SMEs in that market before targeting the Middle East and North Africa (Mena) region.
“We believe we have a unique strength in that we are scrappy and cost-effective. By strategically positioning ourselves in the Mena region to take advantage of the labour market and available subsidies through organisations such as Bahrain entity Tamkeen, we are confident we can compete with some of the large US-based competitors and win our vertical of blue-collar small businesses,” said Sam Matthews, co-founder and chief technology officer (CTO).