Clinicy, a Saudi Arabia-based healthcare technology startup has raised a significant seven-figure amount in a Series A funding.
SaaS Investors
The round was led by Middle East Venture Partners (MEVP), with participation from existing shareholders like Kafou Group and Fadeed Investment.
Founded in 2010, Middle East Venture Partners is a venture capital firm based in Dubai, United Arab Emirates, that provides both early and growth-stage funding to companies. MEVP is a Middle East-focused venture capital firm that invests in the Middle East region with a focus on the GCC and Levant markets.
Clinicy Use of Funds
The company will use the funding to support its expansion in a market sector worth SAR 7.2 billion in Saudi Arabia alone. Clinicy plans to broaden its technological reach and develop a unique, proprietary 'Interconnected HealthTech Ecosystem' to help transform healthcare efficiency and accessibility, aligned with Vision 2030 goals.
About Clinicy
Founded in 2017 by Prince Mohammed Bin Abdulrahman Abdullah Al Faisal, Abdullah bin Sulaiman Alobaid, and Saud bin Sulaiman Alobaid, Clinicy provides a cloud-based SaaS platform for medical institution management, addressing issues like high patient 'no-show' rates and administrative inefficiencies. Clinicy’s solutions offer customized patient experience platforms, automating critical processes such as patient onboarding and retention. The proprietary platform also integrates clinics with regulatory bodies and the broader healthcare ecosystem, ensuring a comprehensive and versatile tool that can improve healthcare delivery for patients.
Funding Details
Company: Clinicy
Raised: Undisclosed
Round: Series A
Funding Month: January 2024
Lead Investors: Middle East Venture Partners (MEVP)
Additional Investors: Kafou Group and Fadeed Investment
Company Website: https://clinicy.com.sa/
Software Category: Healthcare Management
Source: https://www.wamda.com/2024/01/saudi-healthtech-startup-clinicy-raises-series-round