OTPP et al. in €140m round for Kry

Greg Gille
08 January 2020

Tweet
Facebook
LinkedIn
Google plus
Send to

Ontario Teachers' Pension Plan (OTPP) has led a тЌ140m funding round for Swedish healthcare software developer Kry.

The series-C was led by OTPP through its Teachers' Innovation Platform (TIP), which focuses on late-stage venture and growth equity investments in disruptive technology companies. Kry's existing investors, Index Ventures, Creandum and Accel Partners, also participated in the round.

Maggie Fanari, a managing director on the TIP team at OTPP, will join Kry's board.

The company stated it will use the fresh funding to expand into new markets across Europe, develop its product offering in existing markets, and hire new talent to continue fostering innovation in the business.

The deal is the largest funding round recorded in the Swedish technology space since the $526m round for Spotify in 2015, according to Unquote Data.

Previous funding
Index and Nordic VC Creandum led a €6.1m seed round for Kry in August 2016. Kry's funding round also saw participation from Germany-based VC investor Project A Ventures.

Accel led a €20m series-A funding for Kry in June 2017, along with the existing investors Creandum, Index and Project A.

Index then led a $66m series-B funding round for Kry in 2018. The round also saw existing investors Accel, Creandum and Project A participate.

Company
Founded in 2014 and headquartered in Stockholm, Kry is a digital healthcare company that offers video-based consultations to patients through mobile devices. It launched its service in Sweden in March 2015 and has since expanded to Norway, Germany, the UK and France. Around 700 clinicians use the firm's services.

The business employs 300 staff.

People
Ontario Teachers' Pension Plan – Maggie Fanari (managing director).