US-based TachyHealth raises seven-figure Seed from regional investors - Wamda
Nov 25, 2021
US-based TachyHealth raises seven-figure Seed from regional investors
Jordan's Propeller Inc, the Oman Technology Fund- Wadi (OTF Wadi), Jordinvest, and an insurance company out of Saudi Arabia have invested in US-based healthtech, TachyHealth's seven-figure Seed round. Founded in 2018 by Osama AbouElkhir, Mo Khadra and Dr Amr Fawzy in the US with a presence in UAE, KSA and Egypt, TachyHealth enhances the interaction between healthcare providers and payers through artificial intelligence (AI) and data science with the aim of removing waste, saving money, and improving the patient journey. The fund will be utilised to accelerate the development of deep technology solutions as well as to fuel its growth in the Mena region. Press release:
TachyHealth, a healthcare technology startup providing intelligent solutions for value-driven healthcare, has managed to secure a 7 figure USD number for its Seed investment in an over-subscribed round with participation from high profile Mena region venture capital and angel investors led by Propeller Inc. along with Oman Technology Fund- Wadi (OTF Wadi), Jordinvest, and a leading insurance company out of Saudi Arabia. This is a set milestone in the growing startup’s journey following an angel round previously raised by the company in the pre-seed stage. The fund will be utilised to accelerate the development of deep technology solutions as well as to fuel the growth in the Mena region. This will go along with the aim of intelligently automating the traditional healthcare processes that tie up a vast number of resources, people, time, and money. TachyHealth is a Delaware based healthcare technology company with a presence in four countries, US, UAE, KSA and Egypt. Founded in 2018, the company has developed solutions for re-inventing the interaction between healthcare providers and payers by leveraging artificial intelligence (AI) and data science with the aim of removing waste, saving money, and improving the patient journey for value-based healthcare. The interconnected intelligent solutions offered include AiGuide for medical doctors, AiCode for medical coders, AiClaim for claim management, and AiReview for claims review and auditing by the payers. The startup has seen tremendous growth especially following the COVID-19 pandemic where the transformation of healthcare became a priority for healthcare systems across the region through enhanced revenue cycle management, medical coding and claims management focusing on outcome and value rather than quantities and activities. In a short time, TachyHealth has managed to grow rapidly with a current team of 40 members, including top-notch engineers, doctors and developers, managed by an executive team from healthcare and technology backgrounds with +100 years of collective experience. This forms a team that is thrilled to utilize the latest technology to disrupt the healthcare market and transform traditional care, as seen and experienced by an extensive client list including multinational corporates, hospitals, Third Party Administrators, and insurance companies.