KRY, a Swedish video-based health care provider, has announced a €20 million ($23 million) series A round of funding led by Accel, with participation from existing investors Index Ventures, Creandum, and Project A.
Founded out of Stockholm in 2014, KRY counts more than 100,000 users in its native Sweden, in addition to Norway and Spain.
Using the service, patients can book a video consultation with a health care professional through their smartphone or tablet — KRY directly employs over 200 doctors in Sweden alone. Each session costs 250 Swedish Krona, the equivalent of $31, and prior to each consultation the patient describes their symptoms in writing and uploads relevant photos, while also responding to specific questions. Prescribed medication and home tests can also be sent directly to the patient’s home within two hours.
The company had previously raised a €6.1 million ($7 million) seed round that helped fund its launch in Norway and Spain, and with its latest cash injection it plans to “deepen its penetration” in existing markets and launch in new markets across Europe — though its longer term mission is to “provide around-the-clock healthcare for patients all over the world,” according to a statement issued by the company.
“KRY is built by patients, for patients,” noted KRY CEO and cofounder Johannes Schildt. “Our main priority is always to build a service that allow patients equal access to healthcare on their own terms.”
A number of European health care startups have attracted significant investment in recent times. Back in January, Doctolib raised $28 million to be the top doctor-booking platform in Europe, while last month Poland’s DocPlanner raised $16.8 million to expand its doctor-booking platform into new markets. In the U.S, Amino recently raised a chunk of funding for its online platform that helps users find doctors with expertise in specific areas of health care.
Elsewhere, San Francisco’s Doctor on Demand is perhaps the most similar to KRY, offering video consultations with a range of medical professionals. It has raised almost $90 million in VC funding since it was founded in 2012, and claims some big-name backers including GV (Google Ventures), Andreessen Horowitz, Richard Branson, and Qualcomm Ventures.