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Founded in 2017 by Talal Waleed Al-Hussein, Mohammed Alfaisal and Abdullah Alobaid, Clinicy provides a healthcare management system for bookings, appointments, and patient engagement increasing efficiency and elevating the clinc experiences. This recent funding round follows Clinicy’s successful integration with medical institutions in a seamless and synergetic process.
Based on our H1 2021 EVM Healthcare Report, even though the Healthcare industry across Emerging Venture Markets observed a decrease in funding YoY in H1 2021, the sector in Saudi Arabia grew both in funding and volume of deals. The 2 transactions recorded in H1 2021 in Saudi Arabia were double the transactions closed in H1 2020 and accounted for 4% of the total funds invested in Healthcare startups across MENA, Turkey, and Pakistan. Even though still a small sector compared to its peers in the top 5 industries, the Healthcare sector seems to be on a steady growth with a bit more than half the capital raised in FY’20 already invested in H1 2021.
Since its launch, Clinicy has identified three critical paint points: missed appointments (no-show), high administrative operating costs, and lack of reach and communication with patients. The Saudi-based startup set out to provide innovative solutions through seamless booking automation and a user-centric digital platform, elevating user engagement on one end, and reducing daily operations remarkably on the other.
In light of this recent investment, Clinicy co-founder and managing director, Talal Waleed Al-Hussein highlighted “This investment will allow us to scale the number of medical institutions and patients using Clinicy and further support our vital healthcare sector. We are proud that Mad’a Investment Company has confidence in Clinicy’s successful model. Through this strategic partnership, we will be able to capitalize on expertise and knowledge as we continue the development of quality innovative solutions and services. Our expansion will help to reach a larger segment of customers and focus on creating enhanced experiences and benefits for users.”
Clinicy plans to utilize its newly acquired funds to further develop its platform and expand its partner network following a successful integration with clinics across Saudi Arabia. So far the HealthTech startup has managed to reduce ‘no-show’ rates by up to 40% with 61% of patient interactions fully automated via the Clinicy communication tool. Mad’a Investment Company CEO, Abdullah Abdulaziz Al-Othaim said: “In line with Vision 2030 goals to improve the quality and efficiency of the health sector, Clinicy has demonstrated a value proposition which has the power to transform and enhance healthcare services across the entire region. As we have all seen over the past year during the pandemic, healthcare is one of the most important sectors for society. We are pleased to invest in a homegrown Saudi startup that provides excellence in digitizing healthcare management and is a first-of-its-kind in the Kingdom. This investment adds to our commitment in supporting businesses that create jobs through innovation.”
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