News

SRMG Ventures Invests $5 Million To Boost Anghami’s Growth

As part of the agreement, the Riyadh venture capital firm will also have the option to increase its investment in the future.

Published

1 year ago

August 22, 2023

Nour Nasir

srmg ventures invests $5 million to boost anghami's growth

With 120 million registered listeners and a catalog of over 100 million songs, streaming platform Anghami has become the go-to destination for Arabic and international music, podcasts, and entertainment in the MENA region.

Now, the venture capital arm of the Saudi Research and Media Group, SRMG Ventures, has invested $5 million in the Arab world’s Spotify equivalent, giving a further boost to the company’s growth.

SRMG Ventures announced that it will offer its “extensive media reach, content library, and portfolio of leading assets in audio/podcasts,” enabling Anghami to grab a larger share of a fast-growing music streaming sector predicted to “reach $700 million in the Middle East and North Africa in 2026”.

Last year, the market size for audio in the MENA region increased by 35%, primarily due to the popularity of cloud-based music streaming services.

“This demand coupled with the commercial opportunity […] makes digital audio and media one of the investment priorities for SRMG Ventures. These opportunities are also demonstrative of our strategy and commitment to support and develop the media ecosystem,” explained Jomana Al-Rashid, chief executive of SRMG.

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According to Grand View Research, global music streaming is projected to hit a value of $103 billion by 2030, growing at a yearly rate of 15%. Anghami is a key player in that growth, becoming the first technology company from the Arab world to be listed on New York’s Nasdaq stock exchange in February 2023.

SRMG Ventures explained that its investment in Anghami aligns with its strategy of backing businesses showing strong commercial growth. The venture capital company is also focused on media creators and immersive, interactive entertainment, with initial investments including Telfaz11, a Saudi media studio, and Vuz, a VR social media application.

Related Topics:Anghami Saudi Arabia SRMG Ventures

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News

Cemplicity Is Bringing Real-Time Patient Insights To The UAE

The advanced healthcare platform offers tools for chronic disease management and improved patient experiences.

Published

8 hours ago

January 13, 2025

Nour Nasir

Cemplicity

Cemplicity — a leading health-tech company founded in 2013 — has launched its advanced platform in the UAE, aiming to revolutionize patient care and streamline healthcare operations to improve clinical outcomes.

Designed to analyze patient-reported data in real-time, the platform incorporates Patient-Reported Experience Measures (PREMs) and Patient-Reported Outcome Measures (PROMs) to collect and analyze patient feedback. By transforming the data into actionable insights, healthcare providers will be better equipped to improve quality of care and increase efficiency.

Cemplicity’s technology can even tackle chronic conditions like diabetes, which affects 12.3% of the UAE population. By enabling regular symptom tracking and side-effect monitoring (even when patients are at home) the platform ensures proactive care management, and can also optimize early detection and screening of cancers.

Blaik Wilson, Cemplicity’s CEO, shared: “We are excited to bring Cemplicity to the UAE, a nation committed to healthcare excellence. With the private healthcare sector evolving at an impressive pace, partnering with such forward-thinking providers enables us to transform patient feedback into meaningful insights that enhance patient experiences and improve outcomes”.

Wilson added: “Globally, healthcare produces 30% of the world’s data volume. Aggregating and anonymizing patient-reported data not only uncovers trends and evaluates treatment outcomes but also advances the UAE’s broader ambition to lead in medical research and innovation”.

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With a presence in nine countries and partnerships with major healthcare providers like the UK’s National Health Service (NHS), Cemplicity has already redefined how hospitals and clinics leverage patient feedback. Its tools, known for achieving high survey response rates, help link patient experiences to organizational KPIs and Net Promoter Scores (NPS), enabling measurable improvements in operations, and clinical outcomes, while fostering a culture of continuous improvement.

For the UAE market, the platform has been specially adapted to local needs, offering multilingual support (including Arabic) and seamless integration with tools such as WhatsApp and various hospital management systems.