Swedish digital health startup Kry raises $300 million in new funding, tripling its valuation to $2 billion

Back in 2019, we wrote about 50 startups with the most chances of becoming unicorns. One of the startups on the list is Kry, a Stockholm, Sweden-based telemedicine startup that is transforming the world of healthcare by making care more accessible and convenient. Our prediction turned out to be true.

Today, Kry announced it has raised over $300 million (€262m) in a Series D funding round to fuel its European expansion plans. The 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 of more patients across Europe.

Founded in 2015 by Fredrik Jung Abbou, Joachim Hedenius, Johannes Schildt, and Josefin Landgård, Kry 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 personalized treatment plans.

“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,” Kry CEO and co-founder Johannes Schildt said.

Kry said it 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.