ⓘ A file-photo of Okadoc founder & CEO Fodhil Benturquia; Credits: Arabian Business
▸ The company aims to deploy the funds to launch telemedicine
▸ The company is planning to expand to Saudi Arabian and more GCC regions by the next year
Dubai-based instant doctor appointment booking platform Okadoc on Wednesday (12 February) announced at the Step Conference that it has raised $10 million Series A round led by Abu Dhabi Investment Office (ADIO) and Ithmar Capital Partners.
The company will utilise the fresh funds to launch telemedicine which will enable doctors to offer virtual consultations remotely to the patients. This new avenue is also expected to benefit underserved populations having limited access to healthcare.
Okadoc has also partnered with UAE’s leading healthcare providers including Dubai Healthcare City (DHCC), Medcare, Aster Hospitals, Emirates Healthcare Group, and more. The company is planning to expand its operations to Saudi Arabia and more GCC regions by the next year.
Statements enclosing Series A round of Okadoc
“Our mission at Okadoc is to build and deploy technologies to improve the healthcare experience for everyone involved. We are fixing the broken patient experience that exists today while at the same time improving operational efficiency for payors and providers.”
“Okadoc is the only platform in the region that is integrated with most of the international and local hospital information systems (HIS), covering over 60% of doctors in the UAE making us the only platform that can offer patients the access to doctor schedules in real-time, and to instantly book and manage their appointments. It has also allowed us to reduce no shows by up to 75%.”
“We launched our instant booking feature in the UAE a year ago, and in this short time we have managed to on-board over 1,000 bookable doctors from 70 specialties in healthcare facilities across all seven emirates,”
“We wanted to continue this great momentum, expand in other markets and introduce new functions, so we felt that the time is right to raise more capital to enable us to do so,”
– Fodhil Benturquia, Founder & CEO of Okadoc
“Congrats to the Okadoc team on such a monumental Series A funding round that will launch telemedicine across the UAE. This is a strong testament to the ambitious and driven start-up talent across the Middle East. As the home to the region’s top entrepreneurs, we are really thrilled to have this great news announced at STEP 2020.”
– Ray Dargham, CEO of STEP
Named as the ‘Startup of the Year’ by Arabian Business last year, founded by in 2018 by Fodhil Benturquia, Okadoc aims to improve the healthcare experience by connecting patients with doctors and healthcare providers seamlessly through an integrated platform. Through its cloud-based platform, available on Android, iOS and Desktop; the company helps doctors, clinics, and hospitals suppress costs, manage bookings, increase operational efficiency, and help patients make informed decisions through various parameters including location, language, gender, speciality of the healthcare provider, insurance network and more.
The startup was also named as ‘Healthcare Innovator of the Year’ at the Entrepreneur Magazine Agility Awards. Okadoc was also chosen to participate in Hub71’s Incentive Program last year.