KRY secures US$155 (€140) million investment as it gears up for further expansion in Europe
Stockholm — KRY, Europe’s largest digital healthcare provider, today announced it has raised US$155 (€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 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. Maggie Fanari, Managing Director on the TIP team at Ontario Teachers’, will join KRY’s Board.
KRY will use the funds to:
- Expand into new markets across Europe, bringing the benefits of its technology to millions more patients across the continent;
- Further innovate and develop the product offering in existing markets including Sweden, the UK, France, Norway, and Germany; and
- Hire new talent and expertise into the business to continue driving advancements in digital healthcare.
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.”
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.
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.”
KRY is a digital health app, allowing 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 Europe’s leading digital healthcare provider with over 1.4 million completed patient meetings. Backed by some of Europe’s most renowned tech investors including Index Ventures and Accel, KRY is leading the field of digital health to reimagine the future of healthcare. Headquartered in Stockholm, KRY’s 300+ employees and 700+ clinicians are committed to improving the world’s health through innovation, one patient at a time. KRY operates in Sweden, Norway and most recently Germany and also operated under the name LIVI in the UK and France. To learn more, visit www.kry.se / www.livi.co.uk / www.livi.fr / www.kry.de / www.kry.no
About Ontario Teachers’
The Ontario Teachers’ Pension Plan (Ontario Teachers’) is Canada’s largest single-profession pension plan, with $201.4 billion in net assets at June 30, 2019. It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.7% since the plan’s founding in 1990 (all figures as at Dec. 31, 2018 unless noted). Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario’s 327,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.
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