Kry Raises Over $300 Million to Accelerate European Expansion Plans

KRY, a telemedicine app that allows users to consult with a qualified health professional, announced a Series D funding round of over $300 million to fuel its European expansion plans.

The funding round was led by CPP Investments (CPPIB) and Fidelity Management & Research with participation from existing investors, including the Ontario Teachers’ Pension Plan (Ontario Teachers’), Index Ventures, Accel, Creandum, and Project A.

Including the latest funding round, Kry has raised over $500 million to date. Kry plans to use the latest investment to scale its platform, building on both its operations as a healthcare provider and its software offerings as well as further geographic expansion.

Kry connects patients with qualified healthcare professionals across Europe. Kry says using its telemedicine app, clinicians will be able to access enhanced triage, advanced queuing and matching functionality, paperless referral management, secure patient messaging, and personalized treatment plans.

With news funds, 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 behavioral therapy 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.

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.”

The telehealth category witnessed a massive influx of VC funding during the first quarter of 2021, raising a total of $2.4 billion, according to the recently released Mercom’s Q1 2021 Digital Health Funding and M&A Report.