Stockholm-based Kry is a provider of an online telemedicine platform for patients. The company is on a mission to build better and more accessible healthcare to reduce the pressure that growing populations have on traditional medical support models. Kry claims that it is the market leader and only CE-certified, app-based service for meeting doctors through video meetings in Sweden.
Kry raises Series D round
In a recent development, the digital healthcare company has announced that it has raised $300M (approx €262M) in its Series D round of funding to further boost its European expansion plans.
Reportedly, this round pushed the company’s valuation to $2B (nearly €1.66B) – Kry was valued at $700M after a 2020 financing round.
The round was led by CPP Investments (CPPIB) and Fidelity Management & Research LLC with participation from existing investors, including The Ontario Teachers’ Pension Plan (Ontario Teachers’), Index Ventures, Accel, Creandum and Project A.
JP Morgan acted as lead placement agent, and Goldman Sachs acted as placement agent in this latest round.
Utilisation of the funds
The raised capital will help Kry to scale its platform, build its operations as a healthcare provider and its software offerings, and further expand its services in different geographies. Its aim is to bring the benefits of its technology to millions more patients across Europe.
Johannes Schildt, CEO & co-founder of Kry, says, “This investment will help us empower patients to make active choices about their health in partnership with thousands of public and private healthcare professionals in Europe. Working in partnership with healthcare systems, governments, and clinicians, we can deliver high-quality healthcare, improve patient access, and create healthier societies.”
In addition, Kry will also use the additional funding to grow its team and explore further acquisitions and strategic partnerships.
Fast forwarding the future of healthcare
Founded in 2015 by Fredrik Jung Abbou, Joachim Hedenius, Johannes Schildt, and Josefin Landgård, Kry claims to transform the world of healthcare by making care more accessible and convenient. With Kry’s app, you can meet a doctor or therapist at any time or location, using your phone or tablet.
Kry has helped over 3 million patients access healthcare to date. And, the company claims to have seen a growth of over 100 per cent year-on-year in 2020 in response to supporting patients and healthcare systems across Europe during the pandemic. The new funding will help the company meet the increasing patient demand for their virtual healthcare services.
Beside, Kry has also created Care Connect by Kry, a free, safe and secure platform that enables any healthcare professional across the globe to see and treat their patients remotely by video.
Kry is its name in Sweden, Germany, and Norway. Whereas, in France & the UK, the company is known as Livi.
It is a platform that enables healthcare professionals across the globe to see and treat their patients remotely by video. This initiative has been launched to help tackle the spread of Covid-19.
Livi Connect is a free web-based platform that allows anyone to speak to a doctor face-to-face by video, providing care when and where it’s needed without the hassle of installing another app or software. All features of the service are free of charge to enable universal healthcare access. The company has already provided hundreds of thousands of consultations across Europe.
Back in January 2020, the digital healthcare provider secured €140M in Series C round to help accelerate its ambitious growth plans in Europe. The round was led by Ontario Teachers’ Pension Plan (Ontario Teachers’) through its Teachers’ Innovation Platform (TIP) along with existing investors Index Ventures, Creandum, and Accel. Maggie Fanari, Managing Director on the TIP team at Ontario Teachers’, had joined KRY’s Board.