Digital Health Platform Altibbi Raises $44 Million To Expand Offerings
Altibbi, the Middle East’s largest AI-based digital health platform, announces a $44 million, Series B fundraise. The round brings together a number of strategic and financial investors and the heavily oversubscribed round was led by Foundation Holdings, Hikma Ventures and existing investors Global Ventures and DASH Ventures. Altibbi is an AI-based digital health provider in […]
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Altibbi, the Middle East’s largest AI-based digital health platform, announces a $44 million, Series B fundraise.
The round brings together a number of strategic and financial investors and the heavily oversubscribed round was led by Foundation Holdings, Hikma Ventures and existing investors Global Ventures and DASH Ventures.
Altibbi is an AI-based digital health provider in the Arab world. The company hosts over two million pages of content, and has published six peer-reviewed scientific papers in the last year alone. It has conducted 4.5 million telehealth consultations to date, has 20 million unique visitors a month to its platform, and offers its 24/7 telehealth services across seven regional countries – with over 1,500 active certified doctors on the platform. Altibbi’s AI engine, created by their team of data scientists, engineers and clinicians, also provides a unique capability for a comprehensive patient solution.
The new funds will be used to expand the platform’s offering into online pharmacy and diagnostics collection to establish the region’s first end-to-end fully integrated primary care offering, providing high quality, affordable, accessible value-based healthcare in accordance with Saudi Vision 2030 and Egypt’s Ministry of Health and Population.
Jalil Allabadi, Founder & CEO of Altibbi, said: “We are thrilled to complete this significant funding round, with the endorsement of leading financial and strategic investors with strong healthcare and technology expertise. We are grateful to our new and existing investors, our partners and the brilliant Altibbi family and team for allowing us to forge ahead with our mission.”
“Altibbi is playing a critical role in organising digital healthcare services, improving quality and convenience for patients, and reducing costs of insurers and governments, even as it expands access across the region. Building an end-to-end platform and strengthening our geographic presence have always been strategic priorities.”
Abhishek Sharma, CEO of Foundation Holdings, said: “Digital Healthcare is witnessing unprecedented growth and we are set to sail into the golden age of healthcare and healthcare technology. Altibbi has already achieved a leadership position in the digital healthcare industry while demonstrating superior unit economics. Our objective is to support Altibbi to reach a superior position where its quality, exponential growth and trusted brand will enable them to be the first publicly listed digital health unicorn IPO in the GCC.”
Lana Ghanem, Managing Director of Hikma Ventures, said: “Altibbi is re-engineering healthcare, shifting the focus from sick care to preventative healthcare so that patients experience better health, and reduced costs. We fully believe and support their highly scalable, digital-first platform combined with their quality, virtual clinical operations to provide integrated, personalised healthcare. An integrated digital platform is no longer a nice to have in healthcare but is an essential tool to deliver a more efficient model of care.”
