Kry Revenue, Valuation, Funding & Investors
Kry is valued at $2B as of April 2021, a 12.3x multiple on its last reported $163M revenue.
Last Kry valuation
$2B
Series D · Apr 2021
Last Kry funding round
$160M
Series D · Jul 2022
Kry revenue
$163M
Series D · Apr 2021
Key investors in Kry
Index Ventures
Creandum
Accel
Project A Ventures
Ontario Teachers' Pension Plan
Fidelity
About Kry
Kry is a Stockholm Lan-headquartered digital healthcare provider founded in 2015. It connects patients with professionals via app-based consultations in primary care, specializing in e-health services across Europe.
Founded
2015
HQ
StockholmWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Services
Revenue
$163M (Apr 2021)
Valuation
$2B (Apr 2021)
Kry Valuation
Kry is currently valued at $2B, based on its Series D in April 2021.
The $315M round was led by CPP Investments and Fidelity, with participation from Index Ventures, Creandum, Ontario Teachers' Pension Plan, Project A Ventures and Accel.
Kry's valuation has grown 5.0x from $400M at its Series B in June 2018 to $2B in April 2021, across 3 priced rounds.
Kry valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Apr 2021 | Series D | $2B | 12.3x |
| Jan 2020 | Series C | $760M | 30.4x |
| Jun 2018 | Series B | $400M | - |
Kry Revenue
Kry's latest recorded revenue is $163M, as of its Series D in April 2021. At a $2B valuation, that implies a 12.3x revenue multiple.
Revenue grew from $25M in January 2020 to $163M in April 2021, while the revenue multiple moved from 30.4x to 12.3x.
Kry revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2021 | $163M | $2B | 12.3x | Series D |
| Jan 2020 | $25M | $760M | 30.4x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Kry Funding History
Kry has raised a total of $726M across 6 funding rounds, plus 1 secondary share sale.
Kry's first fundraising round was a $7M seed round in August 2016. The most recent completed round was a $160M Series D in July 2022.
Kry funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2022 | Series D | Index Ventures; Creandum; Project A Ventures; Teachers’ Venture Growth; Accel | $160M | - | Kry is a European telehealth and digital primary care platform offering remote consultations, SaaS tools for healthcare providers, and patient engagement solutions. The company operates across multiple European markets with approximately 78% of revenue from Sweden, 12% from the UK, and 10% from France, serving over 7 million patients and 1,300+ clinics in its network. The company had generated revenue of approximately $215 million in 2022 (estimated to have grown 31% year-over-year from $163 million in 2021) and reached $228 million in 2023 revenue. Kry's revenue streams include consultation fees (90% from public payers like the NHS and Swedish county councils), SaaS sales to doctors and clinics, and referral payments from partners. The company had shifted toward profitability, reducing EBITDA burn by over 70% and projecting breakeven across all geographies by 2024. Previously, in an earlier funding round, Kry had been valued at $2 billion with an estimated valuation-to-revenue multiple of 11x, reflecting the elevated valuations of telehealth companies during the COVID-19 pandemic period. |
| Dec 2021 | Secondary | Flat Capital | $1M | - | Kry is a Swedish digital healthcare provider operating in multiple European markets. Flat Capital invested SEK 10 million in Kry in December 2021. |
| Apr 2021 | Series D | CPP Investments (lead); Fidelity (lead); Index Ventures; Creandum; Ontario Teachers' Pension Plan; Project A Ventures; Accel | $315M | $2B | Kry is a Swedish digital health startup offering telehealth services and software tools that connect clinicians with patients for remote consultations. The company generated $163 million in revenue in 2021, with 100% year-over-year growth in 2020 driven by pandemic-related demand for remote healthcare delivery. Kry's revenue comes from three streams: consultation fees, SaaS sales to doctors and clinics, and referral payments from partners such as pharmacies and labs. In April 2021, Kry closed a Series D funding round of $312 million (€262 million) at a $2 billion post-money valuation, representing an 11x valuation-to-revenue multiple. The funding was led by major institutional investors and used to expand service delivery across the region, with plans to develop additional digital treatments including Internet Cognitive Based Therapy and mental health self-assessment tools. By 2021, Kry had served over 3 million digital doctor appointments annually with approximately 6,000 clinicians using its platform. The company subsequently demonstrated a shift toward profitability, reducing EBITDA burn by over 70% and projecting profitability across all geographies by 2024. |
| Jan 2020 | Series C | Ontario Teachers' Pension Plan (lead); Index Ventures; Creandum; Hedosophia; Accel | $155M | $760M | Kry is a Stockholm, Sweden-based digital healthcare company founded in 2014 by Joachim Hedenius, Josefin Landgård, Fredrik Jung Abbou, and CEO Johannes Schildt. It provides tele-medicine services through a video application allowing users to meet doctors or therapists anytime via phone or tablet. The company had sales of SEK 234 million ($25M) in Sweden in 2018. Since 2018, Kry has expanded outside Sweden to the UK, France, and Norway under the name Livi. In July 2020, Kry completed a $155 million Series C funding round led by the Ontario Teachers’ Pension Plan through its Teachers’ Innovation Platform (TIP), which focuses on late-stage venture and growth equity investments. Existing investors Index Ventures, Creandum, and Accel also participated. Maggie Fanari, Managing Director on the TIP team, joined Kry's board post-transaction. Prior to this round, Kry had raised almost $100 million. The investment supports further expansion in Europe. |
| Jun 2018 | Series B | Index Ventures (lead); Creandum; Project A Ventures; Accel | $66M | $400M | Kry (formerly KRY) is a Swedish digital healthcare provider founded in 2014, offering video consultations with doctors via smartphone or tablet, aiming to provide accessible, high-quality care amid strained healthcare systems. By late 2018, it had conducted over 350,000 patient meetings across Sweden, Norway, and Spain, achieving 740% growth in 2017 and becoming Europe's largest digital healthcare provider. It expanded services to include online psychology and cognitive behavioral therapy, accounting for over 3% of primary care doctor visits in Sweden. In December 2018, Kry raised $66 million (€53 million) in a Series B round led by Index Ventures, with participation from Accel, Creandum, and Project A Ventures, bringing total funding to $93 million across seed, Series A, and this round. The post-money valuation reached close to $400 million, supporting expansion into Britain and France, deeper market penetration, and broader medical offerings. Kry continued scaling post-2018, raising a $155M Series C in 2020 led by Ontario Teachers’ Pension Plan with the same core investors, and reaching a $2B valuation by 2022 after €516M total funding. |
| Jun 2017 | Series A | Accel (lead); Index Ventures; Creandum; Project A Ventures | $23M | - | - |
| Aug 2016 | Seed | Creandum (lead); Index Ventures (lead); Project A Ventures (lead) | $7M | - | Kry is a Swedish digital healthcare startup founded in 2014 that connects patients with healthcare professionals via video consultations on smartphones or tablets. The company raised €6.1 million ($6.8 million) in a seed round on August 17, 2016, led by Index Ventures and Creandum, with participation from Project A Ventures. This funding supported Kry's international expansion beyond Sweden, with launches planned in new markets. Kry's service offered 15-minute video sessions for 299 Swedish Krona (around £27/$35), focusing on on-demand diagnosis without leaving home or work. Prior to the round, Kry had achieved impressive patient meeting volumes on a Pan-European level, though specific revenue or ARR figures were not disclosed. The round positioned Kry to alleviate pressure on traditional healthcare systems amid rapid growth in digital health investments. Following the seed round, Kry continued raising capital, including a €20 million Series A in 2017 led by Accel and a $66 million Series B in 2018 led by Index Ventures, reaching a valuation near $400 million at that time. |
Who has invested in Kry?
10 investors have backed Kry across its funding rounds, including Index Ventures, Creandum, Accel, Project A Ventures, Ontario Teachers' Pension Plan and Fidelity.
Lead investors include CPP Investments, Fidelity, Ontario Teachers' Pension Plan, Index Ventures, Accel and 2 other investors.
Kry Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 London | 6 | Lead | Aug 2016 | |
| Stockholm | 6 | Lead | Aug 2016 | |
 Berlin | 5 | Lead | Aug 2016 | |
 Palo Alto, CA | 5 | Lead | Jun 2017 | |
 Toronto | 2 | Lead | Jan 2020 | |
| Boston, MA | 1 | Lead | Apr 2021 | |
| Toronto | 1 | Lead | Apr 2021 | |
| Toronto | 1 | Participant | Jul 2022 | |
This data is available for Pro users. Sign up to see all 10 Kry investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Kry
Kry has acquired 1 company to date.
Last acquisition by Kry was on April 2nd 2019. Kry acquired Enjo for undisclosed valuation.
Latest Acquisitions by Kry
| Description | Enjo is a mobile application designed for modern parents to foster family connections through daily mindful reflections. Users replace social media time with guided prompts that encourage appreciation and presence, promoting stronger familial bonds. London-based Enjo targets busy households seeking simple wellness practices. |
| HQ Country | |
| HQ City | Stockholm |
| Deal Date | 2 Apr 2019 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Kry acquisitions and their M&A valuation multiples. Start Free Trial | |
Kry Competitors
Kry competitors include listed companies like Ping An Healthcare and JMDC, and private ones like eMed, Transcarent, Zocdoc and Nourish.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Miami, FL | Private | - | - | $2B | - | |
| San Francisco, CA | Private | $50M | - | $2.2B | 44.0x | |
| New York City, NY | Private | $71M | - | $1.8B | 25.4x | |
| New York City, NY | Private | $160M | - | $1.8B | 10.9x | |
 China | Publicly listed | $815M | $52M | $1.6B | 0.9x | |
 Japan | Publicly listed | $324M | $88M | $1.5B | 4.6x |
Kry Public Comps
Kry is still privately-owned, but its public comps include Ping An Healthcare, JMDC, GoodRx, Teladoc, Talkspace, Guiyang Longmaster, Medley Inc., American Well, Hims and Oscar Health.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $815M | $52M | 0.9x | 0.9x | 13.4x | 16.9x | |||
| $324M | $88M | 5.0x | 4.6x | 18.4x | 17.9x | |||
| $797M | $173M | 1.8x | 1.8x | 8.1x | 5.5x | |||
| $2.5B | $124M | 0.6x | 0.6x | 11.3x | 5.0x | |||
| $229M | $6M | 3.4x | 3.4x | 129.3x | 49.4x | |||
| $44M | $5M | 10.0x | - | 87.9x | - | |||
| $236M | $32M | 2.1x | 1.8x | 15.7x | 13.2x | |||
| $249M | ($63M) | 0.2x | 0.2x | (0.8x) | (3.1x) | |||
This data is available for Pro users. Sign up to see all Kry competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kry
| When was Kry founded? | Kry was founded in 2015. |
| Where is Kry headquartered? | Kry is headquartered in Stockholm, Sweden. |
| Is Kry publicly listed? | No, Kry is a private, VC-backed company. |
| What is Kry's valuation? | Kry was last valued at $2B in its Series D in April 2021. |
| How much funding has Kry raised? | Kry has raised $726M across 6 funding rounds. |
| What was Kry's last funding round? | Kry's last funding round was a $160M Series D in July 2022. |
| Who are Kry's investors? | Kry's investors include Index Ventures, Creandum, Project A Ventures, Accel, Ontario Teachers' Pension Plan, Fidelity, CPP Investments, Teachers’ Venture Growth, Hedosophia and Flat Capital. |
| What is Kry's revenue? | Kry's latest recorded revenue is $163M (April 2021). |
| What is Kry's revenue multiple? | Kry's latest valuation implies a 12.3x revenue multiple ($2B valuation on $163M of revenue). |
| Which companies are comparable to Kry? | Companies comparable to Kry include eMed, Transcarent, Zocdoc, Nourish, Ping An Healthcare and JMDC. |
| How many companies has Kry acquired? | Kry has acquired 1 company, including Enjo. |
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