SUMMARY
- Spry Therapeutics bagged $15M led by Flourish Ventures to enhance its software for healthcare.
- The company aims to grow its sales team and clientele in the U.S. market.
- In 18 months, Spry Therapeutics has onboarded 105 U.S. clinics, raising a total of $25M in total.
Spry Therapeutics, a Pune-based software as a service (Saas) firm has bagged $15 million in funds from investors led by Flourish Ventures. The funding round was also attended by Together Fund, Fidelity’s Eight Road Ventures, and F Prime Capital, according to Co-founder Brijraj Bhuptani.
With its concentration on developing software for physical healthcare facilities, the company hopes to capitalize on the trend of software firms creating goods for the worldwide market. According to Bhuptani, the business would use the additional funding to build up a sales and servicing team in that region and concentrate on growing its clientele.
As per ET, Bhuptani stated, “U.S. healthcare is not just one big $4 trillion monolith. It is, in fact, a thousand $4 billion opportunity. Anyone who wants to make a meaningful impact cannot do so by going wide and operating on the fringes. Spry is changing how PTs will manage their practice by enabling them to go deep.”
Partner at Flourish Ventures, Kabir Kumar states, “Spry is targeting the large market of small businesses which provide physical therapy but they lack the means to make insurance claims digitally. It will help solve a real need in the market. There is a huge talent pool available locally that knows how to file insurance claims for healthcare in the US. Spry is leveraging that talent pool to build software for that market.”
In 2021, former CTO of Ola Brijraj Bhuptani and Riyaz Rehman founded the Health-tech firm Spry Therapeutics, which offers products and services for health care and consumers. It includes Spry EMR, Virus Blocking Technology, Pillow Market Revolutionization, etc. Not only does the firm provide integrated software for clinical management and center administration, but it also assists with processing insurance claims and financial services like billing and payments.
105 US clinics have been onboarded by Spry Therapeutics in just 18 months since its launch. With this fresh equity round, the company has raised a total of $25 million in capital.
