The platform, one the first HealthTech startups in the MENA region, raised the Series B round, led by Middle East Venture Partners (MEVP) and DASH Ventures.
Award-winning Arab medical online platform Altibbi has just announced a new $6.5 Million funding round, co-led by DASH Ventures and Middle East Venture Partners (MEVP), with the participation of new strategic investors TAMM, RIMCO Investments, Endeavor’s Catalyst Fund, as well as other undisclosed investors.
The platform, founded by Jalil Allabadi and Ayman Sharaiha in 2010, offers services across 10 markets in the Arab world, through more than one million pages of localised medical content in Arabic, including articles, news, and Q&A. The Series B round signals confidence in the company's ability to enhance medicine, in a region where governments spend an average of only eight percent of their budgets on healthcare compared to an average of 17 percent spent by OECD countries.
“Altibbi is the undisputed leader in providing access to doctors on-demand as well as having a vast and expanding content library. Altibbi’s growth over the past year has given us conviction in the company’s leadership and with re-investing and providing additional capital for it to scale. The team at Altibbi has the passion, expertise and energy to take this company to the next step," said Walid Mansour, Partner and Chief Investment Officer at MEVP.
The startup plans to use the investment to expand its digital health offering, growing its presence and further expanding its Arabic medical content library of 1.5 million pages, as well as expanding its premium real-time, round-the-clock tele-health services. “The funding is fully dedicated to further growing the company, which has established an exceptional track record as a premier provider of trusted health and wellness information in the region serving over six million people every month. We believe there is a true opportunity to further build Altibbi’s portfolio of telehealth solutions for the benefit of companies and consumers in the region,” said Ayman Sharaiha, Co-founder and COO.
“Telecommunication has been at the forefront of the global technology boom,” said Omar J. Sati Managing Director at DASH Ventures. “It was only a matter of time before this technology delivered a seismic shift to the healthcare industry. Altibbi is not just a TeleHealth platform but a mobile medical system, where patients literally have control of their own health within the palm of their hands. We are proud to have played a crucial role in helping Altibbi establish themselves as the region’s main digital health provider, transforming the future of healthcare access, quality and cost.”
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