The Finland-headquartered IT and cybersecurity consultancy Oivan has announced the completion of a SR9 million ($2.4 million) growth funding round led by Saudi entrepreneur Bader Othman Alabduljabbar and Finnish tech investor TCG, in addition to the participation of several Oivan employees, joining as new shareholders of the company.
Oivan expects its team to grow from 160 experts in 2021 to more than 250 experts in 2022. The company’s service catalog ranges from design, web, and mobile development to cybersecurity consultation and mission-critical operations teams. Since 1998, Oivan’s operations team has managed critical components of the internet infrastructure in Saudi Arabia.
Oivan has strong Nordic roots and regional offices in Saudi Arabia, the UAE, Thailand and Vietnam. The company operates with its proprietary enhanced distributed teams, in short, the EDT model.
Oivan’s CEO Rami Korhonen said: “We started Oivan with the idea that by bringing together technology and design talent from around the world, we can solve some of our clients’ biggest challenges and become a digital force for good.”
He added: “Today, our clients, such as the National Housing Company in Saudi Arabia, use Oivan to develop national e-services with the EDT model. Ten to 15 percent of our senior experts work onsite at the client location, while 85-90 percent of our production experts work at our international offices. The Sakani platform we developed in cooperation with the NHC has helped over 400,000 families find and buy government-subsidized homes in the past four years. Furthermore, the Ejar rental agreements platform we developed in partnership with the NHC has digitally processed millions of rental agreements.”
Rasmus Roiha, chairman of Oivan, said: “Being able to grow profitably throughout 2020-2021 is a testament to the tremendous talent and drive we have at Oivan. Getting the investment from our trusted business partner Bader allows us to take on even larger opportunities for our clientele’s benefit.”
The company expects its revenue to grow by more than 30 percent annually in 2022 and is actively hiring new talent to join its international team of over 20 nationalities.
“I have cooperated with Oivan since 2020 and been amazed by the skill and commitment the company has shown in serving its clients — the National Housing Company, Communications and Information Technology Commission, and Digital Governance Authority. The opportunity to bring Nordic quality digital transformation and cybersecurity expertise to Saudi Arabia is enormous, and I am delighted to be a shareholder and a close partner in the company’s future growth,” said Alabduljabbar.
CEO Korhonen added: “We are proud of having continuously played a part in Saudi Arabia’s digital transformation journey since the launch of public Internet in the Kingdom in 1998. This year we opened our Riyadh office and hired many highly skilled Saudi men and women to expand our local capabilities. We look forward to being the trusted digital transformation and cybersecurity partner for both public sector and private sector organizations in Saudi Arabia on their journey to reach the Kingdom’s Vision 2030 goals.”
Saudi entrepreneur invests in digital transformation firm
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Saudi entrepreneur invests in digital transformation firm
PwC Middle East and Sirar by stc’s CISO500 program advances cyber leadership
The fifth edition of the CISO500 program ran from Feb. 8-12. Delivered in partnership between PwC Middle East and Sirar by stc, the program featured five intensive days of rich discussions and hands-on practical experiences, aimed at strengthening leadership capabilities in cybersecurity and keeping pace with rapid technological transformation.
The program is designed to develop the capabilities of executive cybersecurity leaders and enhance their strategic role in supporting organizations’ digital transformation. It equips participants to address contemporary challenges in the cyber landscape and expand their influence within decision-making ecosystems.
Yasser Al-Swailem, CEO of Sirar by stc, said that the program represents an important step toward strengthening the readiness of cyber leaders in the region. He noted that the CISO500 program is a fundamental pillar in the journey toward building a secure and trusted Saudi cyberspace aligned with national ambitions. He added that investing in national cybersecurity leadership is no longer optional but a strategic necessity for ensuring sustainable digital development. The program reflects a commitment to empowering national talent to lead the digital security landscape according to the highest global standards.
He further emphasized that such initiatives contribute to strengthening digital security ecosystems and enabling organizations to confidently and sustainably address future challenges.
Samer Omar, cybersecurity and digital trust leader at PwC Middle East, added: “CISO500 is a long-term investment in Saudi leadership. Over the past year, we’ve seen how bringing together senior Saudi cybersecurity professionals in a structured executive environment accelerates capability, builds confidence and deepens collaboration. As the program enters its second year, our focus remains on equipping Saudi CISOs with the strategic perspective and technical depth required to secure the Kingdom’s digital ambitions.”
The program addressed a range of advanced topics, including common cyber transformation pitfalls, mechanisms for securing enterprise digital transformation, and cybersecurity budgeting and financial governance. These topics enhanced leaders’ ability to translate cyber risks and security investments into financial indicators that support executive decision-making.
It also covered the latest technological developments, particularly artificial intelligence, emerging technologies, quantum computing, and the protection of critical and operational infrastructure. Emphasis was placed on the importance of security governance for AI technologies and strengthening enterprise-wide risk management perspectives associated with them.
The program adopted an interactive learning methodology combining strategic discussions, collaborative work, and creative practical exercises, contributing to a deeper understanding of concepts and enabling their translation into applicable organizational practices.
Abdullah Al-Asmari, global cybersecurity director at the Saudi Research and Media Group and one of the program participants, said that the experience added significant strategic and practical value: “The program provided a rich experience that strengthened the leadership perspective of cybersecurity, particularly in linking technical practices with strategic and financial dimensions within the organization. It also offered valuable space for exchanging expertise on emerging technologies such as AI and quantum computing, and the challenges of securing critical infrastructure. This experience enhances cyber leaders’ ability to adopt a more influential role in supporting digital transformation and enabling decision-making based on a comprehensive understanding of risk and value.”
He added that the program facilitated the exchange of insights on emerging challenges and strengthened the ability to align cybersecurity with institutional objectives and executive decision requirements.
Participants said that the program constituted a valuable professional and knowledge-driven experience that enhanced the readiness of cyber leaders to keep pace with rapid digital transformation, reinforcing cybersecurity’s role as a strategic enabler that supports innovation while preserving business trust, reliability, and sustainability.
