spry: Healthtech startup Spry raises $7 million in funding from Eight Roads Ventures

Healthtech startup Spry has raised $7 million in funding from Eight Roads Ventures, with participation from F-Prime Capital and existing investor, Together Fund, the company said today. The company has raised over $10 million to date.

Founded in 2021 by Ola’s former chief technology officer, Brijraj Bhuptani, and Riyaz Rehman, Spry aims to democratize the accessibility and affordability of movement health through its full-stack digital health platform by providing an end-to-end patient and practice management SaaS platform for physical therapists.

“Our mission is to create a patient-first, tech-driven solution that anticipates the patient’s needs before they step into the physical therapist’s clinic, and guides them during the treatment,” said Brijraj Bhuptani, cofounder and CEO, Spry.

The firm will use the capital to build practice management for physical rehabilitation.

The SaaS platform enables practitioners and physical therapy center owners to manage their clinical and administrative functions through a single tool. It supports a clinic’s end-to-end operations – from patient intake to scheduling, communication, assessments, electronic medical records (‘EMR’), revenue cycle management, and home-exercise plans, among others.

There is an increased demand for physical therapy in the United States – Spry’s key target market – as more consumers strive to adopt healthy and active lifestyles, a growing aging population, and favorable payer policies.

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“Physical rehabilitation services in the U.S. present a $56-billion opportunity, with outpatient being a major driver of demand,” the company said in the release.

“Spry’s comprehensive and omnichannel platform is a very compelling value proposition to 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.

“Spry has built a game-changing physical rehabilitation platform that allows providers to streamline operations and increase revenue while delivering a collaborative and seamless experience for their patients,” said Carl Byers, Partner, F-Prime Capital.

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