The Ontario Teachers’ Pension Plan is leading a US$155-million round of financing for KRY, a European digital health-care provider.

The financing was made through the Teachers’ Innovation Platform, which focuses on investments in late-stage venture and growth equity in disruptive technologies. Maggie Fanari, managing director on the TIP team at Ontario Teachers’, will also be joining KRY’s board. Three existing investors in KRY — Index Ventures, Creandum and Accel — also participated in the financing.

“The company is transforming how health-care services are delivered to consumers through improved access and convenience, while at the same time relieving the pressure on highly strained health-care systems,” said Olivia Steedman, senior managing director at the TIP, in a press release.

Read: Ontario Teachers’ boosting partnership in digital business incubator

KRY intends to use the fresh funding to expand into new European markets, hire new talent and expand its product offerings in its existing markets, which include France, Germany, Norway, Sweden and the U.K.

“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,” said Johannes Schildt, chief executive officer and Founder of KRY. “They will bring invaluable experience to our business as we look to further expand our operations and reach.”

Read: CPPIB, OMERS up stake in Indian toll roads, Caisse invests in digital health company

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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