MEVP joins AppliedAI's Series A round
UAE's MEVP has joined AppliedAI's $55 million Series A round, along with G42, Bessemer Venture Partners, and strategic partner e&. The round was oversubscribed.
Founded in 2021 in the UK by Arya H. Bolurfrushan and relocated to the UAE in 2022, AppliedAI leverages AI to process medical billing records and insurance claims faster and more accurately than traditional outsourcing firms.
The new funding will support AppliedAI's international expansion, enhance product capabilities, and deepen its presence in the MENA region, where the company is building partnerships within the UAE's AI ecosystem.
Previously, the company raised $42 million in 2022 from G42 and the Al Maktoum family.
Press release:
Middle East Venture Partners (MEVP), the pioneer and one of the largest venture capital firms in MENA, today announced its investment in AppliedAI as part of the company's Series A funding round alongside G42, Bessemer Venture Partners, and strategic partner e&. The investment completes AppliedAI's oversubscribed $55M Series A.
AppliedAI, an Abu Dhabi-based company, has developed an AI-powered automation platform, dubbed Opus, that transforms back-office operations in highly regulated industries, including financial services, healthcare, and government sectors. The company's enterprise-grade solutions address critical digitisation needs across the region.
"AppliedAI exemplifies the exceptional founders we back – talented entrepreneurs building innovative technology solutions that drive meaningful transformation in the Middle East," said Walid Mansour, Co-CEO at MEVP. "Their deep understanding of regulated environments and proven enterprise traction make them a natural fit for our portfolio as we continue building global AI leaders from the MENA region, bringing forth innovation in tech and societies alike."
The funding will accelerate AppliedAI's international expansion while strengthening product capabilities and regional market presence. The company relocated from London to Abu Dhabi in 2022, establishing strong partnerships within the UAE's growing AI ecosystem.
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