Swedish telemedicine provider Kry announces $66M Series B funding

By Dave Muoio
11:04 am

Stockholm, Sweden-based telemedicine app company Kry announced this week that it has raised $66 million (53 million euros) in Series B funding. The round was led by Index Ventures, and also included the company’s existing investors Accel, Creandum, and Project A.

According to a statement, the company will use the new funding to grow its staff, with the eventual goals of deepening market penetration, expanding medical offerings, and moving into new geographic markets such as the UK and France.

"We are going to make the world a healthier place by providing equal access to hassle-free high quality care — regardless of where you live or who you are,” Johannes Schildt, CEO and cofounder of Kry, said in a statement. “We are happy that Index Ventures and our other investors share that great ambition. Using digitalization we will push through a paradigm shift in healthcare. From being expensive, reactive and system oriented we will make healthcare abundant, proactive and patient focused.”

Kry is Sweden’s first digital medicine platform, being founded in 2014 and launched in 2015. Patients who input their symptoms through the app can schedule a 15-minute video consultation with a healthcare professional via mobile phone, tablet, or browser. These clinicians are employed by Kry, and according to the website can be provided for patients who speak one of 20 different languages.

Since launch, Kry said that it has held more than 350,000 patient meetings in Sweden, Norway, and Spain. The company also claims to account for over three percent of all primary care doctor visits within its home country and, by its reckoning, serves as the largest provider of digital healthcare in the UK.

“KRY offers a unique opportunity to deliver a much improved healthcare to patients across Europe and reduce the overall costs associated with primary care,” Martin Mignot, partner at Index Ventures, said in a statement. "KRY has already become a household name in Sweden where regulators have seen first-hand how it benefits patients and allowed Kry to become an integral part of the public healthcare system. We are excited to be working with Johannes and his team to bring KRY to the rest of Europe.”

The Swedish company has been well supported by investors over the last few years. Following a $6.8 million (6.1 million euros) seed round in mid-2016, Kry also enjoyed a $22.6 million (20 million euro) round around this time last year. This puts the company’s total funding at roughly $93.1 million (79.1 million euros).

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(Image: "1 US Bank Note"/geralt via Pixabay, licensed under Creative Commons Zero)



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