KRY, the Swedish video-based healthcare provider, announced a €20m Series A funding round led by global venture capital firm Accel, with participation from existing investors Index Ventures, Creandum, and Project A. The funding will be used to help power European expansion, and to enable KRY, which has over 100,000 users in Sweden, Norway, and Spain, to achieve its goal of providing equal access to healthcare for everyone.
Founded in 2014 by Johannes Schildt, Fredrik Jung-Abbou,Josefin Landgård, and Joachim Hedenius, KRY aims to provide around-the-clock healthcare for patients all over the world, reducing the pressure on traditional healthcare providers. The company has hundreds of doctors available to connect with patients seven days a week. In August 2016 KRY raised €6.1 million seed funding, which helped the company launch in Norway and Spain and secure key hires. The current funding will be used to deepen penetration in current markets, launch in new markets, and reach its goal of providing sustainable healthcare with equal access for everyone in Europe.
Johannes Schildt, KRY CEO and co-founder, comments: “KRY is built by patients, for patients. Our main priority is always to build a service that allows patients equal access to healthcare on their own terms. We welcome Accel who share a great ambition for healthcare to be revolutionised across Europe.”
KRY operates as a digital medical centre, allowing patients to have a video consultation with a KRY-employed healthcare professional via their mobile phone or tablet, rather than a physical appointment.
Patients can download the KRY app – available on iOS and Android – and select a suitable time for a video-based doctor’s appointment. Prior to the appointment, the patient describes their symptoms in writing, uploads relevant pictures, and responds to symptom-specific questions. At the scheduled time, the doctor calls the patient through the app to start the video consultation. During the video call, patients may receive prescriptions for medication, advice, referral to a specialist, or lab or home tests with a follow-up appointment. Prescribed medication and home tests can then be delivered straight to the patient’s home within two hours.
“KRY brings tremendous efficiencies and cost savings to the healthcare system while providing much needed access to timely healthcare for consumers. We are thrilled to back Johannes and the KRY team”, -comments Sonali de Rycker, Partner at Accel about his investment.