Swedish startup KRY, one Europe’s largest digital healthcare providers, today announced it has raised €140 million to help the business accelerate its ambitious growth plans in Europe and transform the way millions of patients access health services in a digital age.
The success of apps like this will go a long way towards reforming the UK’s antiquated and highly inefficient NHS healthcare system, which still has thousands of GP practices, complete with disgruntled doctors, tetchy reception staff and a seemingly endless rota of specialist nurses attending odd days. The problems patients have in getting urgent appointments for a simple diagnosis are well documented, and hopefully technology will play its part alongside visionary politicians and reformers within the public sector.
KRY, founded in 2015, is a digital health app, allowing users to consult with a qualified health professional in minutes, via their smartphone or tablet. Since launching, KRY has established itself as one of Europe’s leading digital healthcare providers with over 1.4 million completed patient meetings. It is backed by some of Europe’s most renowned tech investors including Index Ventures, Accel, and Creandum, and has a team of 300+ employees and 700+ clinicians. KRY operates in Sweden, Norway and recently launched in Germany.
The Series C round was led by Ontario Teachers’ Pension Plan (Ontario Teachers’) through its Teachers’ Innovation Platform (TIP), which focuses on late-stage venture and growth equity investments in companies that use technology to disrupt incumbents and create new sectors. KRY’s existing investors Index Ventures, Creandum, and Accel also participated in the round. Maggie Fanari, Managing Director on the TIP team at Ontario Teachers’, will join KRY’s Board.
Johannes Schildt, CEO and Founder of KRY, said: “When the company was founded in 2015, we recognised the enormous potential technology had to transform the way patients access healthcare. Today, we’ve built a product that is already loved by millions of patients in Sweden, the UK, France, Germany, and Norway. Our ambition now is to expand into improving access to healthcare for millions more within Europe.
Olivia Steedman, Senior Managing Director, Teachers’ Innovation Platform of Ontario Teachers’ said: “We are delighted to lead the Series C capital raise for KRY, the leading pan-European digital healthcare provider. The company is transforming how healthcare services are delivered to consumers through improved access and convenience, while at the same time relieving the pressure on highly strained healthcare systems. We are excited to partner with Johannes and his team to support KRY’s international growth ambitions and expand its medical offering across Europe.”