Okadoc closes $10 million Series A
Okadoc, an instant doctor appointment booking platform, closed its $10 million Series A round, following a $2.3 million seed round in 2018. The latest fundraising round is one of the largest heathtech Series A investments in MENA. The announcement was made in Dubai at the STEP Conference on 12 February 2020.
A diversified mix of institutional and private investors participated in the Series A including Abu Dhabi Investment Office (ADIO) and Ithmar Capital Partners.
With this investment, Okadoc will launch telemedicine, enabling doctors to offer remote virtual consultations to their patients. This upcoming service will greatly enhance the patient experience by offering much-needed flexibility and convenience for patients to see their own doctors through a video consultation for follow-up appointments, pre-consultations and second opinions. The offering will also greatly benefit underserved populations with limited access to healthcare.
Okadoc has entered into a strategic partnership with Dubai Healthcare City (DHCC) and has further on-boarded some of the UAE’s leading healthcare providers, such as Medcare, Aster Hospitals, Emirates Healthcare Group and several others. Further, after this rapid expansion in the UAE over the last two years, Okadoc will also expand operations into Saudi Arabia and is planning to enter more GCC countries next year.
Fodhil Benturquia, Founder & CEO of Okadoc, said: “Our mission 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. We launched our instant booking feature in the UAE a year ago and have managed to on-board over 1,000 bookable doctors from 70 specialties in healthcare facilities across all seven emirates.”