Business / #ForbesBusiness

December 12, 2017,   12:24 PM

Healthcare Startup Sihatech Secures $1.3 Million Series A

Samuel Wendel


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Riyadh-based Saudi Internet Health Application Technology Company (Sihatech) has closed a $1.3 million series A round with institutional investors including Saudi Aramco Entrepreneurship Ventures (Wa’ed) and the healthcare IT firm, Waseel Application Service Provider.

“Our ultimate goal is to save lives by becoming the backbone of the health IT sector in the Middle East and North Africa, as well as coming up with creative payment gateway solutions that limit the opacity of the current medical procedure pricing,” said Sihatech’s CEO Ahmed Salman Al Bader, in a press release.

Founded in 2015, Sihatech is an online booking platform that connects patients to doctors, clinics and hospitals. Currently, Sihatech’s platform provides access to more than 2,000 doctors representing 30 hospitals and medical centers in Saudi Arabia.

Sihatech plans to use the funds to continue to expand its team, hire more local developers and expand its core technology products. Prior to this round, Sihatech had secured a $133,000 SAFE round with Waseel Application Service Provider for services rendered.

“The founders have the skills and the talent to execute the company plan and grow Sihatech to a regional leader, capable of responding to the ever changing needs and modernization of health systems in Saudi Arabia,” said Khalil A. Al-Shafei, CEO and Managing Director of Wa’ed.

Sihatech is the latest regional online doctor booking platform to receive funding this year. In early 2017, Egypt’s Vezeeta raised a $5 million investment from investors including Dubai’s BECO Capital and Jordan's Silicon Badia.

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