KRY, a large European digital healthcare provider, has announced it has raised £119 million to help the business accelerate its ambitious growth plans in Europe.
The company provides a platform to enable patients to see a doctor or a psychologist by video, at a time and place that suits them. The company operates in Sweden, Norway and Germany under its own name and in the UK and France under the name LIVI
The funds will be used to expand into new markets across Europe and for the company to develop its product offering in existing markets including Sweden, UK, France, Norway, and Germany. The company will also launch a recruitment campaign to hire into the business.
The Series C round was led by Ontario Teachers’ Pension Plan 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.”
“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.”
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.”
