January 8th, 2020
Kyruus Raises $42 Million in New Financing After Delivering Another Year of Record Growth
Patient Access Pioneer Plans Major 2020 Investments to Extend Market Leadership
Boston, MA - January 8, 2020 - Kyruus, the leader in provider search and scheduling solutions for health systems, today announced that it raised $42 million in new financing in a Series D round that brings its total funding to more than $125 million since its founding in 2010. Venrock and Highland Capital Partners led the round, with participation from other existing investors, such as Providence Ventures and Salesforce Ventures. Kyruus, which already serves one in five US healthcare providers, plans to use the new funds to extend its product portfolio while also consolidating providers across the US on its industry-defining platform.
Kyruus welcomed 20 new health systems to its customer community in 2019 and now works with more than 50 of the top 300 health systems nationwide. Its 2019 momentum was fueled in part by health systems looking to replicate the impact that Kyruus has demonstrated with early adopters of online scheduling. As consumers increasingly seek providers who offer convenient self-service, health systems have looked to the award-winning Kyruus ProviderMatch® platform to help them upgrade their digital front doors while driving consistency across access channels.
“To compete effectively with both traditional and new care options and collaborate with emerging digital platforms, health systems need to be digital transaction-ready,” said Aaron Martin, EVP & Chief Digital Officer at Providence and Managing General Partner at Providence Ventures. “Providing consumers with a modern and accurate provider search experience is core to these efforts, making the Kyruus platform a critical part of a health system’s digital stack.”
Kyruus has emerged as the preferred partner for technology companies serving the health system market, most recently announcing partnerships with Brandify and Uber Health. These collaborations built on the existing integrations Kyruus boasts with best-of-breed EHR, CRM, patient reviews, and virtual care leaders. Kyruus will continue to forge partnerships across the digital health ecosystem, recognizing that health systems are increasingly turning to trusted partners who bring their solutions together in an integrated stack.
Kyruus intends to use the new funding to solidify its platform as the definitive routing and scheduling engine for healthcare. Among other innovation priorities, the company plans to deploy a suite of enhancements to augment its routing support, foster further schedule optimization, and extend scheduling to new entities. Kyruus is also actively developing partnerships with insurance companies and large employers to enable its health system customers to engage consumers who seek care through these other channels. To support these goals, the company plans to hire 100 new team members in 2020.
“At a time when disjointed point solutions are crowding the market, Kyruus’ momentum reflects the value that health systems are placing on an enterprise-wide platform that enables them to engage and route their patients to the right care within the network," said Dr. Graham Gardner, CEO of Kyruus. “We feel fortunate to have developed our solution in partnership with many of the leading health systems over the last decade and are honored to now be in a position to connect more patients to the care they need across the globe.”