SaaS startup secures $15 million, expands its service to US healthcare

Spry Therapeutics, a Pune-based SaaS (Software-as-a-Service) startup, has successfully secured $15 million in funding to expand its services in the U.S. healthcare market. The funding round was led by Flourish Ventures, with participation from other notable investors like Fidelity’s Eight Roads Ventures and F Prime Capital. This investment boosts Spry’s total equity to $25 million, allowing the company to enhance its presence in the American healthcare sector, specifically in the physical therapy market.

Founded in 2021, Spry Therapeutics offers integrated software solutions for clinical management and administrative tasks, helping physical therapy clinics manage their operations, including insurance claim processing. The platform already supports over 100 clinics in the U.S. and plans to use the newly raised capital to build a stronger sales and support team in the U.S., further expanding its client base.

Spry co-founder and CEO Brijraj Bhuptani emphasized the startup’s mission to streamline healthcare operations and meet the growing demand for digital insurance claim management in smaller clinics. With the physical therapy market in the U.S. projected to grow from $46.75 billion in 2023 to $87.83 billion by 2031, Spry’s expansion aligns with a rising trend in preventive care and rehabilitation.

Source: americanbazaaronline.com