Kry, a Swedish healthcare platform which connects patients with doctors, has raised $300m, which it says will accelerate European expansion plans.
The funding round was led by CPP Investments and Fidelity Management and Research LLC.
Kry uses video consultation technology to allow clinicians to triage patients. The company says it now wants to expand into secure patient messaging, personalised treatment plans and greater mental health triage tools.
“We have played a leading role in the digitisation of healthcare across Europe and will continue to play a leading role in the creation of a global digital healthcare ecosystem,” said CEO and cofounder Johannes Schildt.
But how does Kry, which operates as Livi in the UK and France, compare to the other big European healthtech startups also on a mission to become the healthcare super app?
Who has raised the most money?
The five biggest healthtech companies, in terms of the most money raised, are Babylon Health, Kry, Alan, Doctolib and Docplanner.
Babylon Health, a UK-based telemedicine app, has raised the most: €668m. Its latest round was in December 2020, a €82m convertible loan which formed the last part of its €455m Series C round.
Kry’s latest round puts it in second place, with €489m raised. Its most recent round before today was a €140m Series C round in January 2020.
Alan, a Paris-based health insurance app, has raised €310m, after a €185m round earlier this month. Like Kry, Alan also plans to expand its mental health support offering.
Online booking platform Doctolib, which is also French, has raised €237m and Polish telemedicine platform Docplanner has raised €126m.
Ada Health, a symptom checking app has, notably, not raised funding since a €40m Series A round in October 2017.
Where are they active?
Beyond the UK, where it’s based, Babylon has a global presence, providing digital services through partners in the US, Rwanda, Canada, South East Asia and Saudi Arabia.
Insurance app Alan has expanded to two countries beyond its native France: Belgium and Spain, which it moved into at the end of 2020.
Kry operates in Sweden, Norway, the UK, France and most recently Germany.
Doctolib is available in France and Germany, whilst Docplanner is active in 11 countries: Poland, Turkey, Italy, Spain, Mexico, Brazil, the Czech Republic, Argentina, Peru, Colombia and Chile.
Latest moves
Across 2021, Babylon’s focus has been on US expansion. Babylon is active in New York, California, Missouri, Nevada and Iowa, and says it’s “building a 50-state network.”
The company has made several new hires in America, bringing in senior leadership from Google, Amazon and Expedia.
After securing its unicorn status this month, Alan’s also made several senior hires recently, from Stripe, Uber and J.P Morgan.
Its latest hire is Erik Lumer, formerly CPO at US healthcare giant Maven Clinic, who is joining to lead Alan’s non-insurance related products team.
Doctolib’s focus recently has been on its partnership with the French state to roll out the coronavirus vaccine.
On announcing its latest funding, Kry has said part of the investment will go towards growing its team, as well as making acquisitions and securing strategic partnerships.
