Riyadh-based BRKZ said September 14 it secured $31 million to scale its AI-enabled building materials procurement platform across Saudi Arabia and the GCC.
The money is split for a reason.
$13 million is Series B equity co-led by Wa'ed Ventures, the venture arm of Aramco, and 500 Global, with participation from BECO Capital and ANB Capital. Syndicated wire coverage listed the participant as Anb Seed Fund. Another $18 million is growth debt committed by Stride Ventures under a previously announced $30 million venture debt facility. BRKZ said the debt supports working capital and flexible payment terms for customers, while the equity funds product and expansion.
The product surface is procurement, not a marketplace listing. Contractors and factories submit RFQs, and BRKZ routes them across 2,100 local and international suppliers and 150 factories, then handles pricing, quality assurance and logistics through one relationship. It now serves more than 1,500 contracting companies and says it has sold more than $133 million (SAR 500 million) in materials and processed more than $1.37 billion (SAR 5.13 billion) in RFQs since inception.
Underneath is a pricing dataset built over three years. BRKZ cites about 38 million structured data points across 13,000 product records and 2,100 supplier profiles. Its AI pricing engine trained on approximately 40,000 RFQs predicts buy and sell prices and recommends suppliers for each order. The company reports 84% to 89% of predictions fall within 5% of the final transacted price, which compresses manual quoting to near instant while procurement teams keep final oversight.
