Kry secures $300m investment to accelerate European expansion plans
Kry announces over $300m Series D investment led by CPPIB to scale its platform, building on both its operations as a healthcare provider and its innovative software offerings as well as further geographic expansion.
By Kry Team
Mon Apr 26 2021 • 3 min read
Tuesday 27th of April 2021: Digital healthcare company Kry, operating as Livi in the UK and France, today announced a funding round of over US$300m (€262m) to fuel its European expansion plans.
The Series D funding 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.
Kry will use the investment to scale its platform, building on both its operations as a healthcare provider and its innovative software offerings as well as further geographic expansion. This will bring the benefits of its technology to millions more patients across Europe.
Kry, the European leader in digital healthcare whose technology connects patients with qualified healthcare professionals, will widen clinician access to its product suite. More healthcare professionals will have greater access to use Kry’s digital tools to deliver high-quality healthcare to patients across Europe. Beyond Kry’s core video consultation technology, which is already available in 30 European markets, clinicians will be able to access enhanced triage, advanced queuing and matching functionality, paperless referral management, secure patient messaging and personalised treatment plans.
Kry will continue to deepen the functionalities of its patient-facing app and expand its mental health offering to more markets including adding Internet Cognitive Behavioural Therapy (ICBT) and mental health self-assessment tools. Patients will be able to access a wider range of healthcare professionals such as psychologists, dermatologists, physiotherapists, and pediatricians. Furthermore, it will invest in digital healthcare tools to support chronic healthcare conditions.
Johannes Schildt, CEO and co-founder of Kry, said:
“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.
We have played a leading role in the digitization of healthcare across Europe and will continue to play a leading role in the creation of a global digital healthcare ecosystem to deliver better patient experiences and outcomes through our technology.”
Leon Pedersen, Managing Director and Head of Thematic Investing, CPP Investments said:
“Kry is a significant and successful player in Europe’s digital healthcare market and this investment is a strong fit with our innovations in healthcare strategy. We are pleased to support Kry as they leverage technology to advance the delivery of proactive patient-centric services.”
Kry, which has been growing rapidly since it was founded in 2015, has helped over three million patients access healthcare to date. The company grew over 100% 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 and fulfil its vision of making high-quality healthcare accessible for all.
Kry will also use the additional funding to grow its team and explore further acquisitions and strategic partnerships.
J.P. Morgan acted as Lead Placement Agent and Goldman Sachs acted as Placement Agent on the Series D round.
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