Digital GP platform Kry today said it has raised $300m (£216m) in a fresh funding round after enjoying a surge in demand for remote healthcare services during the pandemic.
The new cash injection, led by CPP Investments and Fidelity, takes the company’s valuation to over $2bn — almost three times the price tag given after its previous funding round last year.
Existing investors including the Ontario Teachers’ Pension Plan, Index Ventures and Accel also took part in the Series D round.
Kry, which trades as Livi in the UK, allows users to book video appointments with GPs, including free NHS services.
It is said to have posted strong revenue growth over the last year as more people opt for remote appointments during the pandemic.
Kry said it will use the fresh capital to scale its platform and expand geographically to target millions more patients across Europe.
It also said it will widen clinician access to its range of products beyond its core video consultation platform to services such as triage, paperless referrals and secure patient messaging.
“This investment will help us empower patients to make active choices about their health in partnership with thousands of public and private healthcare professionals in Europe,” said chief executive and co-founder Johannes Schildt.
“We have played a leading role in the digitisation of healthcare across Europe and will continue to play a leading role in the creation of a global digital healthcare ecosystem to deliver better patient experiences and outcomes through our technology.”
Kry also said it will use the funding to grow its headcount and explore further acquisitions and partnership opportunities.
JP Morgan acted as lead placement agent while Goldman Sachs also advised on the funding round.