SPRY Therapeutics, a SaaS AI platform for physical therapy professionals, has raised $15 million in fresh funding spearheaded by Flourish Ventures, Together Fund, Fidelity’s Eight Roads and F-prime Capital.
This latest round brings SPRY’s total funding to $25 million since its 2021 launch. SPRY Therapeutics has earlier raised $7 million led by Eight Roads Ventures, with participation from F-Prime Capital and existing investors, in 2022.
The fresh capital raised will be used to fuel its rapid expansion across the United States.
“SPRY is transforming physical therapy with their AI-driven platform, streamlining clinic operations and improving patient outcomes. We’re excited to support their mission to empower clinics and drive greater efficiency across the industry,” said Manav Garg, Co-founder and Managing Partner at Together Fund.
“SPRY’s billing-centric, full-stack platform uniquely addresses the complex business processes in PT clinics, offering a single solution for finance, operations, and patient success. SPRY’s platform directly benefits US physical therapists, from solo practitioners to larger clinics, by addressing the major hurdles of insurance reimbursements and cash flow management that often challenge these clinic owners,” said Kabir Kumar, Partner at Flourish Ventures.
Founded by Brijraj Bhuptani, former CTO of Ola, and Riyaz Rehman, SPRY offers an AI-powered, billing-centric, full-stack solution that distinguishes it from competitors. Unlike first-generation cloud solutions created by physical therapists with a clinical focus or horizontal machine learning-enabled billing systems that have limited data access, SPRY aims to integrate various aspects of clinic management.
The solution automates the operationally intensive billing process while addressing patient engagement, customised data entry, and report generation. In just 18 months, SPRY has partnered with over 105 US clinics across 30 states.
