Berlin, 27.04.2021. Digital healthcare provider and Project A portfolio company Kry announces the closing of a 300m USD funding round (Series D) to further expand its telemedicine service in Europe. The new funding round increases Kry’s company valuation to over 2bn USD thus achieving unicorn status.
The series D funding round was led by CPP investments (CPPIB) and Fidelity Management & Research LLC with participation from existing investors Project A, The Ontario Teachers’ Pension (OTPP), Index Ventures, Accel and Creandum.
Project A has been investing in Kry early on since its seed funding round in 2016. The Project A operational team has supported Kry on an operational level in various areas: In terms of marketing efforts, the team helped scale Kry’s global performance marketing and conducted go to market campaigns in several markets, in particular in Germany. Additionally, the team organized Kry’s country management in Italy, Poland and Spain as well as supported data engineering.
Kry is the European leader in digital healthcare, providing patients with the means to see a doctor via video or chat on their smartphone or tablet. To this date, Kry has completed over 3 million patient meetings.
Thies Sander, General Partner at Project A, says: “Project A is all about investing at very early stages to help tech startups be successful: Back in 2016 we invested in Kry’s seed funding - now with a $300M Series D round, Kry has become the next European unicorn. The team around Johannes Schildt has proven that the complex and highly regulated healthcare sector can be disrupted successfully via digital means. We look forward to being part of their continued journey in Europe.”
Read more on our operational support for Kry in our case study.