Search company, investor...

Founded Year

2014

Stage

Series D - III | Alive

Total Raised

$730.99M

Revenue

$0000 

Mosaic Score
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

+10 points in the past 30 days

About Kry

Kry provides a platform for digital healthcare solutions. It offers an application-based service for meeting doctors through video meetings. The company was founded in 2014 and is based in Stockholm, Sweden.

Headquarters Location

Torsgatan 21

Stockholm, 113 21,

Sweden

+46 08227707

CB Insights
Looking for a leg up on competitive, customer and technology insights?
CB Insights puts confidence and clarity into your most strategic decisions.
See how. Join a demo.
Join a demo
Trusted by the world's smartest companies to:
  • Predict emerging trends
  • See competitors' playbooks
  • Stalk the smart money
  • Identify tomorrow's challengers
  • Spot growing industries
  • Kill analyst data work
Let's see how we can help you!
MicrosoftWalmartWells Fargo
You're one click away from the most comprehensive, unmatched analyst expertise in tech, in-depth private company data and a platform that brings it all together.
Click Now. Join a live demo
Join a demo

Research containing Kry

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Kry in 4 CB Insights research briefs, most recently on Jun 2, 2021.

Expert Collections containing Kry

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Kry is included in 5 Expert Collections, including Unicorns- Billion Dollar Startups.

U

Unicorns- Billion Dollar Startups

1,221 items

F

Future Unicorns 2019

50 items

D

Digital Health 150

300 items

The most promising digital health startups transforming the healthcare industry

D

Digital Health

10,553 items

The digital health collection includes vendors developing software, platforms, sensor & robotic hardware, health data infrastructure, and tech-enabled services in healthcare. The list excludes pureplay pharma/biopharma, sequencing instruments, gene editing, and assistive tech.

T

Telehealth

2,856 items

Companies developing, offering, or using electronic and telecommunication technologies to facilitate the delivery of health & wellness services from a distance. *Columns updated as regularly as possible; priority given to companies with the most and/or most recent funding.

Latest Kry News

Losses rise but profitability on the horizon for digital health scaleup Kry

Jul 14, 2023

After a “major adjustment” in 2022, Kry is doubling down on core markets 4 min read Losses at digital health scaleup Kry rose in 2022 as the business adjusted to tricky economic headwinds, laying off hundreds of employees and pulling out of two markets — but the company says it’s on track to hit profitability by the end of 2024. Pre-tax losses hit €155m in the year to December 31 2022, increasing from €97m in 2021, according to Kry’s latest annual report, which is due to be filed next week. At the same time, revenue in the UK nearly doubled to €21m and nearly tripled in France to €17m. Sales in its home market, Sweden, also increased in 2022, rising from €106m to €128m. Advertisement “We have been doing this major refocus, but we are growing more than 30% year on year,” says COO Kalle Conneryd-Lundgren. “It’s been a difficult year in some ways, but that’s now behind us and it's in our hands when we’ll turn into a profitable company.” 'Major readjustments' Stockholm-based Kry provides a digital healthcare platform and runs physical clinics for both primary and specialist care. It’s raised $753m since launching in 2014, including a $160m Series D extension in July 2022 — made up of a convertible loan and debt financing — of which Kry has spent about half. A further formerly unannounced €30m was raised from the Healthcare of Ontario Pension Plan in February 2023. After a boom in customer numbers during the pandemic, 2022 was a year of “major readjustments” for Kry, says Conneryd-Lundgren. It let go of about 400 staff across two rounds of layoffs, and announced it was pulling out of one of its five markets, Germany. It also put the brakes on a planned expansion to Italy. “We decided in early 2022 to turn around how we operate as a company, which meant a lot of colleagues working on exploratory stuff and expansion had to be laid off,” says Conneryd-Lundgren. Sifted Newsletters Join to Sign Up Severance pay to laid-off employees and “goodwill payments” — money spent on pulling out of markets — led to the sharp increase in losses in 2022, he adds, although Kry expects total losses for 2023 will be far lower. “We think we made the right strategic decisions, and we are now in a completely different situation in 2023 — with a much lower burn rate.” The picture in 2023 Kry’s Ebitda (earnings before interest, taxes, depreciation and amortisation) was up around 60% in Q1 2023 compared with Q1 2022, according to Conneryd-Lundgren. For all of 2022, its Ebitda was -€109m. The business now hopes to reach profitability by 2024. Conneryd-Lundgren says it’s already there in Sweden and Norway — although Kry doesn’t include company-wide costs, like some tech on its digital platform, in those calculations. Kry says it’s likely to hit profitability in France by the end of this year. It hopes the UK can follow suit sometime at the start of 2024. The company doesn’t plan to hire as many new employees in 2023 as it did last year. Investing in technology While Kry doesn’t need to raise more capital right now — it had €72m in the bank at the end of 2022 and took on €30m in investment since then — the company hasn’t ruled out a fundraise in 2023, says Conneryd-Lundgren. Advertisement “If we see that what we are doing can be accelerated with an investment of some sort, we may look into it — but we can also accomplish our aims on our own,” he tells Sifted. In April and May 2022, Kry completed two acquisitions of businesses with physical care units in Sweden, as it looks to double down on providing a physical healthcare service alongside its digital platform. Kry now has about 50 physical clinics spread across all its markets except for the UK, predominantly in Sweden. Last year it opened two physical clinics in France by partnering with the hospital care provider ELSAN. In the UK Kry is the largest digital health partner to the NHS. Its patient-doctor messaging platform Mjog became the first messaging service to be integrated into the NHS app and is used by 40% of healthcare clinics in the country. However, Kry hasn’t acquired any other businesses in 2023, Conneryd-Lundgren says — although he doesn’t rule out further acquisitions in the future. “A lot of our acquisitions in the past have been physical units, and at this point in time we are quite proficient in setting those up ourselves.” Instead, over the next six months, investments in the technology that underpin Kry’s digital and physical healthcare platform will be one of the biggest costs, he says. About 20% of that will go towards investing in AI, which Kry is beginning to explore in small-scale pilots. It launched one trial with a cohort of individual clinicians two months ago, using generative AI to support admin around patient data. While deploying generative AI is still in its early stages, the company eventually plans to roll out some tools to assist clinicians in decision-making, too, the COO says. Advertisement

Kry Frequently Asked Questions (FAQ)

  • When was Kry founded?

    Kry was founded in 2014.

  • Where is Kry's headquarters?

    Kry's headquarters is located at Torsgatan 21, Stockholm.

  • What is Kry's latest funding round?

    Kry's latest funding round is Series D - III.

  • How much did Kry raise?

    Kry raised a total of $730.99M.

  • Who are the investors of Kry?

    Investors of Kry include Creandum, Index Ventures, Project A Ventures, Accel, Teachers' Venture Growth and 9 more.

  • Who are Kry's competitors?

    Competitors of Kry include Doktor.se and 8 more.

CB Insights
Looking for a leg up on competitive, customer and technology insights?
CB Insights puts confidence and clarity into your most strategic decisions.
See how. Join a demo.
Join a demo
Trusted by the world's smartest companies to:
  • Predict emerging trends
  • See competitors' playbooks
  • Stalk the smart money
  • Identify tomorrow's challengers
  • Spot growing industries
  • Kill analyst data work
Let's see how we can help you!
MicrosoftWalmartWells Fargo

Compare Kry to Competitors

M
Maja.no

Maja.no is a healthcare platform that connects patients with doctors and provides health advice and e-prescriptions. It offers venereal disease treatment, birth control pills and contraception, skincare, vaccines, and more. Maja.no is based in Oslo, Norway.

Abtrace Logo
Abtrace

Abtrace is a digital healthcare platform. It helps with earlier diagnosis through the use of machine learning and uses artificial intelligence and big data techniques to analyze data from patients and provide insights that enable clinical decisions. It was founded in 2018 and is based in London, United Kingdom.

eConsult Health Logo
eConsult Health

eConsult Health operates as a digital triage and remote consultation platform. It uses artificial intelligence (AI) to intelligently triage and automate general practitioner (GP) e-consultation requests and provides solutions for primary care, urgent care, and outpatients. The company was founded in 2013 and is based in London, United Kingdom.

O
OhMD

OhMD lets patients communicate with their care providers in the same way they communicate with their family and friends: with a simple text message. OhMD's HIPAA compliant texting platform is being used by over 30,000 physicians to clinical communication.

Docplanner Group Logo
Docplanner Group

Docplanner Group is a platform connecting patients with healthcare professionals and making the healthcare experience more human. It offers patients a space to find and review a doctor according to their needs. In turn, it offers healthcare professionals and medical centers tools to help manage their patient flow. The company was founded in 2012 and is based in Warsaw, Poland.

P
ProviderTech LLC

Our mission is to simplify healthcare for patients through an intuitive and unique mobile experience - we are the "Uber of healthcare." - Mobile First patient engagement technology - Not a patient portal company - we are building a consumer experience in healthcare - Drive self-pay cash collections and online appointment scheduling - Engaging patients at the point of relevance with action-oriented technology - We are not “Big Data” … we’re “Smart Data”

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Join a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.