Spry, an end-to-end patient and practice management platform for physical therapists based in Pune and Delaware, has announced a $7 million funding round led by Eight Roads Ventures.
F-Prime Capital, based in the United States, and Together Fund, a returning investor, also participated in the round.
Spry, which was founded in 2021 by Brijraj Bhuptani, former Chief Technology Officer at Ola, and Riyaz Rehman, former Chief Business Officer at Ridlr, will use the new capital to accelerate its business. It had previously raised $3 million in a seed round led by Together Fund. The current round brings Spry's total equity capital raised in six months to more than $10 million.
Spry provides a Software-as-a-Service (SaaS) platform for physical therapy practitioners and owners to manage clinical and administrative functions. Patient intake, scheduling, communication, assessments, electronic medical record (EMR), revenue cycle management, home exercise plans, adherence tracking, and patient lifecycle management are all supported by the platform.
"With our 25-member strong team, we were able to build a new-age, reliable, and trustworthy platform to enable physical therapists to manage an omnichannel practice and improve the quality of patient care," said Bhuptani, Co-founder and CEO of Spry.
Spry's platform includes a self-assessment portal, with the US as its primary market. After a thorough assessment of their mobility and flexibility, the portal uses computer vision technology to provide patients with a scorecard. Because physical therapists can access the scorecard during the initial appointment, they can better manage their time.
"Spry's comprehensive and omnichannel platform is a very compelling value proposition for the growing number of physical therapy practices that aspire to provide a continuum of care to their patients, in-clinic and at home," said Dr. Prem Pavoor, Senior Partner, Head of India and Healthcare Investments at Eight Roads Ventures.
Salon and spa management software provider Zenoti and automotive SaaS company Tekion have both achieved early success with the vertical-specific SaaS model.