KN&P Guides Clinicy in Landmark Series A Funding 

KN&P has acted as legal counsel for Saudi health tech startup Clinicy in successfully securing a substantial seven-figure investment in a Series A funding round, marking a significant milestone for the Kingdom’s health tech sector. The funding round was led by Middle East Venture Partners (MEVP) and structured by Gate Capital, with additional participation from existing shareholders Kafou Group and Fadeed Investment. 

While the exact amount remains undisclosed, Clinicy’s press release notes that this funding round is one of the largest in the history of Saudi Arabia’s health tech sector. The investment will be pivotal in advancing Clinicy’s expansion plans across the Saudi market, estimated to be valued at SR7.2 billion ($1.9 billion). 

Founded in 2017 by Prince Mohammed Al-Faisal, Abdullah Al-Obaid, and Saud Al-Obaid, Clinicy specializes in digital solutions for medical institution management. The newly acquired capital will be instrumental in further developing Clinicy’s technological reach and building a unique, proprietary ‘Interconnected HealthTech Ecosystem.’ This ecosystem aligns with Vision 2030’s goals, aiming to transform healthcare efficiency and accessibility in the Kingdom. 

Clinicy’s innovative cloud-based Software as a Service (SaaS) platform addresses critical issues in the healthcare sector, such as high patient “no-show” rates and administrative inefficiencies, which collectively cost over SAR 3 billion annually. The startup claims that its solutions have resulted in a remarkable 75 percent reduction in missed appointments among its clients. 

The KN&P legal team, led by Managing Partner Khalid Nassar (pictured) and included Head of Associate Hanadi Jamjoom, Senior Associate Marya Mufti, and Associate Mawaddah Mahboob