Teami, a startup that provides CRM solutions to medical agents in Iraq, has closed its first investment round through the Iraqi Angel Investors Network. The five-figure round from a group of distinguished Iraqi investors including; Mohamed Al Hakim, the General Manager of Careem in Iraq and Jordan; Iraqi Tech Ventures; Ahmed Baqir and KAPITA.
In addition, Teami secured $20,000 in grants from the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH via its project “ICT for Youth in Iraq” as part of the organization’s support to the Angel Network. This event marks the second financing round completed through the Iraqi Angel Investors Network after the recent funding for Tabib Baghdad.
Helping them manage their on-field operations, Teami’s CRM solutions are currently being adopted by more than 400 medical agents. Mustafa Al Jaf, the founder of Teami, is a veteran of the industry with more than 10 years of experience in Abbott, an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States.
“Over my career, I have built a strong understanding of the pain points facing Iraqi medical representatives, Teami has been built to address them. We are ready to take on the market. With our funding round concluded, our focus will shift toward ramping up our marketing activities and optimizing our product”.Mustafa Al Jaf, Founder, Teami
Teami has graduated recently from ScaleUp Academy and Orange Corner Baghdad, both programs run by KAPITA. Mujahid Waisi, the CEO of Kapita, expressed his commitment to help all of our founders from validating an idea to raising their first fund. “We are very excited to continue the journey with Teami as an investor,” Waisi adds.
The company has also seen the participation of Iraqi Tech Ventures, this is the third investment for Iraqi Tech Ventures in Iraq after completing their investments into Miswag and AlSaree3. Mohammed Al Khudari, the Executive Director of ITV commented “The Iraqi technology market presents a tremendous opportunity for investors, Teami is a prime example of what can be accomplished by the support of investors and the right founder mindset.”
The large tech opportunity remains for B2C businesses in Iraq, according to Ali Al Suhail, the manager of the Iraqi Angel Investors Network. However, he believes Teami is proof that there are many problems to address and markets to create on the corporate side.
“Teami addresses a real market need today, we see great potential for the company to capture a strong market share over the next few years. Technology can address many of Iraq’s challenges and I see great prospects for Iraqi startups.”Mohamed Al Hakim, General Manager, Careem Iraq
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.