The Saudi Arabian healthtech company, Clinicy, specializing in tech solutions for the healthcare sector, has successfully completed a substantial Series A funding round. This seven-figure investment was led by Middle East Venture Partners (MEVP), in collaboration with JIT Capital and current stakeholders including Kafu Group and FDEED Investment.
- Clinicy, established in 2017 by Prince Mohammed bin Abdulrahman Abdullah Al Faisal Al Saud and co-founders Abdullah bin Suleiman Al Obaid and Saud bin Suleiman Al Obaid, offers innovative cloud-based Software as a Service (SaaS) for managing medical institutions.
- The fresh capital infusion will bolster Clinicy’s expansion and solidify its vision to foster collaboration with medical institutions.
Press Release Highlights
Clinicy announced a significant capital raise in millions of US dollars following the completion of a Series A funding round. This investment, one of the largest in Saudi Arabia’s healthtech history, will be used to strengthen the company’s market presence by enriching its portfolio of tech solutions, developing a comprehensive ecosystem of healthtech services in line with Saudi Vision 2030, which aims to improve healthcare efficiency and accessibility.
RelatedNews
Prince Mohammed bin Abdulrahman Abdullah Al Faisal Al Saud, co-founder and CEO of Clinicy, remarked on the funding, “Clinicy has made a tangible impact on improving Saudi Arabia’s healthcare sector, providing digital care services to a million patients across the kingdom. The new funding will enhance our presence and support our vision to deepen collaboration with medical institutions and patients, ensuring more effective and accessible healthcare services. Clinicy is proud to work towards innovation and financial stability to foster digital growth in Saudi Arabia and support the Vision 2030 goals by improving healthcare access. We are pleased to have the backing of MEVP, JIT Capital, Kafu Group, and FDEED Investment, who share our ambitions to accelerate the growth of the healthcare sector in Saudi Arabia and the wider region.”
Walid Mansour, Managing Partner at MEVP, commented, “The healthcare sector in the Kingdom is witnessing a noticeable acceleration in technology adoption, driven by the rapid adoption of digital solutions among the population, ongoing governmental efforts to improve standards, and increasing competition among healthcare service providers. Clinicy stands out by offering a convenient, cloud-based platform that allows clinics and medical centers to deliver digital services and save costs while continuously improving health standards.”
Munther Hilal, CEO of JIT Capital, stated, “Clinicy shows promising potential to expedite the digital transformation of the healthtech sector in the Kingdom. We are excited to participate in this investment, marking our first step into the Saudi market after opening our offices in Riyadh. We see many opportunities and unique projects in the Kingdom that we intend to support and nurture in the coming years.”
