Saudi startup Clinicy seeks a sevenfold growth by end of 2024 after a successful $5 million Series A fundraising.
CEO Prince Mohammed Al-Faisal detailed plans to boost their market presence from 1% to 7% with a customer-centric and innovation-driven approach in the healthcare sector.
Emphasizing alignment with Saudi Vision 2030, Al-Faisal discussed partnership endeavors with the Ministry of Health aimed at digitizing healthcare services. With Saudi Arabia investing SR214 billion in health and social development, Clinicy's role in this growth trajectory is significant.
Facing the country's healthcare challenges, Clinicy offers a range of products such as health information systems and client management tools, while addressing administrative inefficiencies accounting for over SR3 billion in annual losses.
They've notably reduced no-shows by 55% on average across clinics using their platform.
The company is poised to deliver both B2B and B2C services, including enhancing patient experiences, with plans to diversify revenue streams and achieve net profit by 2025. Long-term, Al-Faisal envisions Clinicy impacting global healthcare access.
Hosting advanced AI and machine learning capabilities, Clinicy is transforming traditional healthcare models to digital, much like e-commerce has reshaped retail and banking has transitioned to mobile platforms.