A Swedish digital healthcare startup KRY has closed a Series A round worth 22.8 million dollars to grow its on-demand video-call-a-doctor business, including expanding into new markets. Existing investors Index Ventures, Creandum and Project A also participated in the round according to TechCrunch. The funds will be used to expand further across European markets.
The startup, founded in 2014, will supplement traditional healthcare systems with on-demand paid service for patients who require fast and convenient access to a physician when a full physical examination is not required.
KRY proposes that they reduce pressure on an already stressed healthcare system by offering a “more accessible and convenient digital consultation service”, by enabling video-based consultation for patients even from the confines of their homes.
In addition to describing symptoms to a doctor during the video consultation, patients are also requested to input information about their condition into KRY’s app prior to the video consultation.
KRY services launched in Sweden in March 2015 and then expanded to Norway and Spain in February 2017. KRY has over 100,000 users across its market footprint, with video appointments generally available between 7am to midnight.
Consultations cost around 31 dollars a video session. TechCrunch further says that a video call will typically accompanied by prescriptions, advice, referral to a specialist, or lab or home tests with follow-up appointments. “Prescribed medication and home tests can also be delivered straight to the patient’s home — KRY says within two hours.”
KRY at present employs over 200 doctors and claims to serves more than 1 percent of all primary healthcare in Sweden.
Initially patients typically used KRY for medical advice about skin conditions, UTIs, eye infections and to get prescription renewals. But since integrating with lab-test referrals, TechCrunch reports that KRY doctors “can now handle 60 percent of the ‘100 most common diagnosis in the primary healthcare system’”.