The Middle East might not be the obvious place to try to scale a young, early-stage business right now – particularly in the construction sector. But BRKZ , a Saudi Arabia-based technology-enabled building materials procurement platform, has prospered despite the geopolitical tensions threatening to destabilize the region. The company will today announce it has secured $31 million of new funding – comprising a $13 million Series B equity round and $18 million of debt capital – as it continues to grow.

“The construction market hasn’t slowed down, even if some budget has been repositioned from one priority to another,” says Ibrahim Manna, the founder and CEO of BRKZ. In fact, certain parts of the industry are actually accelerating, Manna says, pointing to Saudi Arabia’s hosting of the football World Cup in 2034, for which construction is now underway.

I last interviewed BRKZ in October last year when the company announced it had raised $30 million of debt funding to accelerate its lending activity. But that was before the US-Iran conflict broke out, with economic uncertainty and market volatility subsequently hitting countries across the region.

Manna says the conflict has been difficult to manage – with the country’s cross-border procurement activity taking a particular hit – but that the business has nevertheless continued to expand. “Even amid significant regional and supply-chain disruptions, we achieved record growth because contractors and factories still need reliable access to materials, competitive pricing and dependable fulfillment.”

BRKZ’s aim is to provide that access. It has built an online marketplace on which contractors with construction contracts can post details of the materials they will need for the projects; suppliers of raw materials and ready-made components than bid to fulfill those contracts. The company also offers working capital financing solutions, which are often critical in the highly-fragmented Saudi construction sector, home to thousands of small and medium-sized enterprises that often lack balance-sheet strength.

BRKZ’s figures support Manna’s claims of continuing growth. Revenues are set to triple this year, with BRKZ now working with more than 1,500 contractors and 150 building materials factories, supported by around 2,100 domestic and international suppliers. Since the business’s launch in 2022, it has racked up building material sales of more than $133 million.

One critical factor in this story has been the company’s embrace of technology, Manna adds. “We started as a traditional business that was enabled by technology, adding new tools where it made sense,” he says. “Now we’re on a path towards becoming an AI-native company.”

To that end, BRKZ has invested heavily in agentic AI solutions, particularly in areas such as pricing, loan underwriting and procurement. “Having spent our first years building the supply network, infrastructure and data to digitize procurement at scale, we can now make that infrastructure significantly smarter,” Manna says.

Today’s funding announcements will help. The $13 million Series B round is co-led by Wa’ed Ventures, a venture capital arm of Aramco, and 500 Global, with participation from BECO Capital and ANB Capital. It will support further investment in the business, including in AI tooling. Meanwhile, the additional $18 million of debt capital is coming from Stride Ventures, and will help the company expand its lending activity.

The company’s equity investors certainly believe the business has more room for growth. “Building materials procurement is one of the largest, least digitized categories in the Saudi economy, and BRKZ has methodically built the infrastructure and data needed to solve it at scale,” says Amjad Ahmad, Managing Partner at 500 Global.

“Our continued investment in BRKZ reflects our confidence in the company’s ability to make building materials procurement more efficient, connected and data driven,” adds Anas Alghatani, CEO of Wa’ed Ventures.

The market backdrop is also supportive. Research just published by Mordor Intelligence values Saudi Arabia’s construction market at $82.8 billion in 2026 but predicts this will increase to $101.8 billion by 2031. BRKZ points out that it already supplies contractors and businesses participating in high-profile developments including The Red Sea Project, Diriyah, Qiddiya, ROSHN and King Salman Park.