The post-pandemic era made people more aware of their wellness, including their physical well-being as well as prevalent health issues. This is because when quarantines and social distancing became a daily norm, people took to digital technologies to interact with the world, especially to get any and all kinds of healthcare assistance.
Hence, it wouldn’t be wrong to say that COVID-19 had a significant effect on technology. The pandemic greatly challenged medical systems in the developing economies of the MENA region, some of which were already particularly weak and overcrowded. The situation, however, was obviously, not the same for the richer Gulf countries.
All this lead to the healthcare industry becoming one of the fastest growing sectors in the world and inturn giving rise to newer business models such as telehealth and next-gen managed care. One such startup that ceased this opportunity way before the pandemic set in, was Vezeeta.
What is Vazeeta?
Founded in 2012, Vezeeta offers appointment management software for doctors and healthcare providers to manage their day to day appoinments and operations better. It does so by providing the patients with a free platform to book their appointments and allowing doctors to opt for the platform using a subscription model.
Vezeeta which currently operates in 50 cities across Egypt, Saudi Arabia, Jordan, and Lebanon claims to have generated 4 million annual appointments, which it further adds is tripling year over year.
Additionally, over the past decade, Vezeeta’s digital healthcare platform has continually transformed to stay ahead of the ever-evolving needs of the patients it serves. Through dynamic and ambitious product and business diversifications, the platform’s original doctor’s consultation booking solution advanced into a single point of care for digital outpatient services to create value for its patients, its healthcare providers and the healthcare ecosystem at large.
Background of Founders
Amir Barsoum
Amir is an alumnus of the Ain Shams Univeristy of Cairo, Egypt and complted his Bachelors in Pharmaceutical Studies. After completing his undergrad, he went for a MAsters at the American University in Cairo.
Amir started off his early career as a management consultant at one of the world’s biggest consultancy, McKinsey & Company. After serving there for two years, he went ahead and joined AstraZeneca as a MENA Business Development Manager until in 2012, he launched his own startup Vezeeta.
Ahmed Badr
Ahmed completed his Bachelors in Computer Science, at the American University in Cairo. After which, he went for an MBA at the same university. He started off his early career as the Vice President Software Engieering at the Cairo-based software company ITWorx Limited.
In 2012, he co-founded and joined Vezeeta as its Cheif Technology Officer (CTO). He has co-founded another US-based startyp called, Zollect. Ahmed is currently serving as the Vice President Software Engineering at the New York-based company, Si-Ware Systems.
Why Vazeeta?
Amir Barsoum, Founder and CEO, Vezeeta, said in a statement:
It took seven years for our healthcare marketplace to acquire the trust of 5 million patients. In contrast, our digital provider vertical, including online pharmacy and digitally-managed clinics, has achieved the same mark in less than two years. This remarkable performance is a testament to the effort and commitment of our talent, our partners from doctors, clinics, pharmacies and labs, and definitely, our shareholders and investors, without which this feat would not be possible.
To adapt to the changes in the healthcare landscape brought upon by the pandemic, Vezeeta introduced several key growth drivers including its pharmacy solution.
Vezeeta’s Pharmacy Solution elevated consumers’ pharmacy experience in Egypt by offering 60-mins home deliveries across key cities. Today, the solution has witnessed 5X growth in medication orders and has multiplied across Cairo, Giza, and Alexandria, and is now offering e-prescription integration and geo-location tracking.
The platform also offers a two-hour lab sample collection, which further expanded Vezeeta’s already robust healthcare offerings across Cairo and Giza to offer effortless healthcare convenience to patients.
The startup is presently busy in reimagining the modern clinical experience for patients with its different technology solutions currently being tried in 20 outposts in Egypt. The platform is already seeing improved efficiencies for its medical doctors and clinical partners, and increased throughput and productivity of the locations.
Funding Secured
Venture Round: Amount Undisclosed
In October 2022, the startup raised an undisclosed amount as part of its Venture round from from Abu Dhabi-based Gulf Capital and Sweden-based VNV Global.
Series D Funding: Raised $40 million
In Februray 2020, the startup raised a $40 Million Series D funding round led by UAE-based Gulf Capital, alongside further investment from existing Riyadh-based investor Saudi Technology Ventures (STV), which had previously led Vezeeta’s Series C round in September 2018. Other investors included:
- BECO Capital
- Silicon Badia
- Vostok New Ventures
- Crescent Enterprises’ CE-Ventures
- Endeavour Catalyst
Prior to this raise, the company had raised a collective $23 million via various Series A, B and C rounds. This round was one of the largest funding rounds of any tech startup in the Middle East and Africa till 2020.
Future Prospects
After reaching profitability, Vezeeta is now set to spearhead its expansion into new products and search for acquisitions across the region, to empower a wider base of patients with cutting-edge healthcare solutions.
The company’s growing profitability will allow it to roll out its product roadmap faster and to target new areas of growth, including expansion via M&A across MEA. This development underlines the platform’s commitment to empowering patients and providers with the best health-tech solutions while positively shifting the dynamics of the healthcare landscape.