Saudi Arabia’s BRKZ Raises $31 Million: How AI Is Reshaping the Construction Materials Market

Saudi construction-technology company BRKZ has raised $31 million in new financing as it pushes artificial intelligence deeper into construction-materials procurement. The round includes $13 million in equity in a Series B co-led by Wa’ed Ventures — the venture arm of 500 Global — and Armco, with participation from BECO Capital and ANB Capital. Separately, Stride Ventures has committed $18 million in growth debt as part of a previously announced $30 million debt facility, bringing BRKZ’s total capital raised since founding to more than $70 million across equity and debt.

"Between 84% and 89% of its price forecasts fall within 5% of the final transaction price," the company says, underlining the accuracy of its AI-based pricing models while noting that procurement teams retain final oversight of decisions.

Platform, scale and AI at the core

Founded in Riyadh in 2022 by Ibrahim Manna, BRKZ operates an AI-powered procurement platform that connects contractors and businesses with local and international suppliers and supports pricing, sourcing, logistics and flexible payment solutions. The platform currently serves more than 1,500 construction companies and 150 building-material manufacturers and is supported by a network of roughly 2,100 suppliers.

• Gross transactional sales since founding: more than $133 million (about SAR 500 million).
• Requests for quotations (RFQs) processed: over $1.37 billion (around SAR 5.13 billion).
• Proprietary data assets: ~38 million structured data points covering 13,000 product records and 2,100 supplier profiles.
• AI training set: roughly 40,000 RFQs powering the pricing engine and supplier recommendation models.

The gap between RFQ volume and completed sales — $1.37 billion in RFQs versus $133 million in sales — highlights both the addressable market and BRKZ’s opportunity to convert more inquiries into transactions. The company says its pricing engine forecasts buying and selling prices and recommends suitable suppliers, accelerating procurement decisions in a market where material and logistics costs can shift rapidly.

BRKZ has moved AI beyond pricing into fulfillment: an AI agent named Nusa manages parts of bulk-cement delivery operations by reading images of delivery notes sent via WhatsApp, matching them to orders, verifying quantities and closing deliveries. The firm reports that around 75% of delivery notifications are processed without human intervention, with employees handling exceptions. AI also informs payment-term recommendations using a proprietary payment-behavior history, while final approval stays with finance teams.

Outlook and expansion plans

The fresh capital will support product development, embedded finance initiatives and international sourcing. BRKZ expects revenue to triple in 2026 after approximately 2.5x year-on-year growth in 2025, achievements the company says came despite supply-chain disruptions and geopolitical pressures that affected trade flows and shipping costs.

One strategic priority is embedded finance: integrating financing and flexible payment terms directly into purchases to address the timing gap between material purchases and project payments. BRKZ also plans to expand cross-border sourcing and strengthen direct sourcing channels with China and India as it scales procurement and trading operations.