Saudi healthtech startup Clinicy secures major ‘Series A’ funding and celebrates one million patients served
Summary
Firm targeting strategic expansion and digitization across the regionRiyadh, KSA Saudi Arabias pioneering healthcare technology start-up, Clinicy, has successfully raised a significant seven-figure (USD) Series A funding round, led by Middle East Venture Partners (MEVP), structured by Gate Capital and with participation from existing shareholders including Kafou Group and Fadeed Investment.The funding round is one of the largest in the history of the Kingdoms healthtech sector and will be used to fuel Clinicys expansion across a market sector worth SAR 7.2 billion in Saudi Arabia alone. This latest investment will fuel expansion and it underpins our vision to deepen the quality of engagement with medical institutions and patients, ensuring that our technology makes healthcare more accessible, efficient, and user-friendly. Clinicy is proud to support the nations digital growth and align with Vision 2030 to improve accessibility to healthcare by prioritizing innovation and financial stability. Clinicy offers a seamless cloud-based platform that enables clinics and medical centers to offer digital services, run a cost-effective business, and continuously improve their healthcare standards.Munther Hilal, Chief Executive at Gate Capital, added: Clinicy is well-positioned to drive the digital transformation in the Kingdoms HealthTech sector. It directly addresses prevalent issues such as high patient no-show rates and administrative inefficiencies, which cost the Saudi healthcare industry over SAR 3 billion annually.