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Saudi-based HealthTech and digital consultation platform Glance Care has successfully raised an undisclosed Seven-Figure SEED round backed by the Sanabil 500 MENA Seed Accelerator Fund with the participation of key angel investors.
Founded in 2019, Glance Care is a digital health startup that assists medical professionals in delivering high-quality clinical recommendations alongside an intuitive and non-interruptive user experience. The company was conceptualized to better cater to doctors’ needs as they face an increasing number of patients and complicated cases. Developed by an experienced team of doctors and software engineers, the platform is specially designed to secure better patient outcomes by providing more accurate diagnoses, save diagnosis time resulting in enhanced decision making.
As most recently recorded in our latest Q3 2021 Healthcare Venture Investment Report, The Healthcare industry in Saudi Arabia observed an unprecedented uptick in VC activity and investment after the Pandemic shifted industry dynamics and highlighted the need for digital solutions. Driven by an all-time high in transactions closed in 2021, funding in Saudi-based healthcare startups increased by a sharp 52,000%YoY surpassing all funds raised in the past 3 years cumulatively.
Since January 2021, Glance Care has supported over 1,500 doctors from Saudi Arabia, MENA, UK, North America, and other European countries with more than 18,000 sessions across different specialties. Most recently, Glance Care onboarded two healthcare centers in Riyadh and Jeddah and is now working towards forming strategic business partnerships with key insurance stakeholders to support its medical claim adjudication. In light of this recent investment, Abdulrahman M. Jahhaf, MD, CEO of Glance Care stated “With the close of our latest funding round, our team can now better realize our technological capabilities and get on the next level of business development. 500 Global has been a key backer of our growth and their continued support will help accelerate our efforts to better serve a market that is in constant need of innovative clinical solutions. Our team is excited to reach this milestone and move ahead, as we further build our platform to help patients and the wider healthcare community in Saudi Arabia.”
The Saudi-based HealthTech will channel the new funds towards further developing the company’s technology and expand its operations in bettering serving the needs of medical professionals and local insurance firms in Saudi Arabia. Amal Dokhan, Partner, 500 Global MENA concluded “In our view, technology is proving to be a catalyst in healthcare by raising the ability of healthcare professionals to potentially deliver better outcomes. Amid this shift, we believe Glance Care team is positioned to meet the pressing needs of medical professionals, patients, healthcare institutions, and insurers. We are excited to see them grow.”
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