Coming to America – A Mega shift for European Telehealth app Kry
- Swedish digital health start-up Kry has launched a video consultation app in the U.S., marking the firm’s global expansion beyond Europe.
- The Stockholm-based company is one of Europe’s largest digital health care providers, facilitating 1.8 million consultations to date.
- Livi Connect app lets doctors send a one-time SMS link out to patients to start a remote video consultation with them.
Kry landed with a Bang in the USA unveiling Livi Connect, a free video consultation platform with fewer features, in response to a spike in demand caused by the coronavirus pandemic.
Johannes Schildt, Kry’s CEO, and co-founder is not hinging his hope yet on the current Tech Boom, but grabbing a bigger share of the market is inevitable and such a move would depend on how well it's Livi Connect product performs “post-pandemic.”
“It’s an entry point,” Schildt said in an interview with CNBC “It’s not a full market launch in terms of launching the full product offering, but an extension of our already-existing product with the U.S.”
“It’s needed at times of crisis,” he added. “Every single consultation that can be done online should be done online. There’s a lack right now of safe and secure tools that are built for this.”
Kry is one of several telemedicine start-ups that has come out of the shadows thanks to the coronavirus outbreak. With citizens across the globe sheltering in place due to lockdown restrictions, patients are being encouraged to instead undergo triage and see their doctors remotely over the phone or online.
Its closest competitor is Britain’s Babylon, which has racked up over 2 million consultations.
Babylon also wants to tap into the U.S market, the company aims to lure as much as 5% of the country’s population to its telehealth platform said CEO and co-founder Ali Parsa
“The U.S. is the world’s largest health market,” Parsa said in an interview last month. “You cannot be a global winner in digital health without being a winner in the United States. The math doesn’t work.”
How the Pandemic has boosted Kry’s Digital Health App in the USA
Kry says its clinical consultations has more than doubled since February, coinciding with the Covid-19 outbreak in Europe, as a result, The company is looking to partner with several U.S. hospital groups but has kept mute on the names.
“This is a mega shift,” Schildt said. “It was a mega trend even before this pandemic and now this megatrend is being fast-forwarded. We as a company are extremely well-positioned to drive a lot of value.”
With $230 million already in the bank coming from investors including Ontario Teachers’ Pension Plan, Accel, Index Ventures, and Creandum. Schildt is optimistic that the company is in the right place at the right time.