KRY has announced that 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 Swedish digital health app KRY enables users to consult with a qualified health professional in minutes, via their smartphone or tablet. Since launching in early 2015, KRY has established itself as one of the larger European digital healthcare providers, with over 1.4 million completed digital patient meetings.
The Series C Round
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. And in relation to the new investment round, it has been agreed that Maggie Fanari, Managing Director on the TIP team at Ontario Teachers’, will join KRY’s Board.
Allocating the €140 Million
KRY explains in a press release that they will use the funds to: Further innovate and develop the product offering in existing markets including Sweden, the UK, France, Norway, and Germany. They will also allocate a large sum of the investment to expand into new European markets and hire new talent in the business as they grow.
CEO and Founder of KRY, Johannes Schildt said: “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."
Ontario Teachers' Role
“Ontario Teachers’ believes strongly in our vision and is the perfect partner given its track record of long-term investments in leading businesses and focus on emerging mega-trends. They will bring invaluable experience to our business as we look to further expand our operations and reach," Schildt says in a press release.
Ontario Teachers’ TIP team seeks to access significant global opportunities for investment in new businesses and sectors that are emerging because of unprecedented technological change. TIP takes minority stakes in companies that are solving challenging, high-value problems that exist in the market today.
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