LIVI raises £118m to fund ‘ambitious’ expansion plans
LIVI has announced that it has raised US $155m (£118m) million to fund its “ambitious growth plans” in Europe and accelerate its digital health offering.
The Series C round was led by Canada’s Ontario Teachers’ Pension Plan (Ontario Teachers’) through its Teachers’ Innovation Platform (TIP), which focuses on late-stage venture and growth equity investments in companies that use technology to disrupt incumbents and create new sectors.
LIVI will use the funds to expand into new markets across Europe as well as innovate and develop its product in existing markets, including Sweden, Norway and Germany, where the company trades as KRY.
“New talent and expertise” will also be brought on board to help it “continue driving advancements in digital healthcare.”
Juliet Bauer, managing director of LIVI, said: “This investment demonstrates our success, as Europe’s largest healthcare provider, in transforming the way millions of patients access health services.
“In the UK, LIVI’s goal is to work with the NHS to improve the UK’s health, one patient at a time – which we’re already proving to over 2.7 million patients. Our new investment enables us to continue this mission and we are incredibly excited about the next phase of our growth’.
LIVI, or KRY as it is known outside of the UK and France, is a digital health app allowing users to consult with health professional via their smartphone or tablet.
Since launching in early 2015, the company claims to have delivered more than 1.4m consultations in Europe. It has also cultivated a number of NHS partnerships, enabling patients to access app-based video GP consultations.
High street pharmacy chain Boots is also working with LIVI to allow customers with health concerns to consult with clinicians via its video platform.
Johannes Schildt, CEO and founder of KRY, said: “When the company was founded in 2015, we recognised the enormous potential technology had to transform the way patients access healthcare.
“Today, we’ve built a product that is already loved by millions of patients in Sweden, the UK, France, Germany, and Norway. Our ambition now is to expand into improving access to healthcare for millions more within Europe.
“Ontario Teachers’ believes strongly in our vision and is the perfect partner given its track record of long-term investments in leading businesses and focus on emerging mega-trends. They will bring invaluable experience to our business as we look to further expand our operations and reach.”
