Digital Health Leader Leverages Major Growth Investment to Propel Platform and Market Expansion
BOSTON, MA – February 2, 2021 – Kyruus, the leader in provider search and scheduling solutions for health systems, today announced results from a transformative year in which it completed a $72 million capital investment round and added Francisco Partners as a new investor. The capital fueled substantial company growth and platform expansion, facilitating both planned product innovation and timely enhancements to meet the rapidly-evolving needs of Kyruus’ more than 65 health system customers as they responded to COVID-19. The company also announced that it plans to fast-track its expansion into the health plan market through the acquisition of HealthSparq, facilitating novel payer-provider collaboration and connectivity around how people navigate care online.
At a time when demand for digital access is higher than ever, Kyruus introduced several major enhancements to its award-winning online search and scheduling solution, ProviderMatch for Consumers. Amid sky-rocketing virtual care usage, the company added new functionality to make it simple for consumers to both identify providers offering virtual visits and book with them online. Kyruus also launched online scheduling for both COVID-19 tests and COVID-19 vaccines, facilitating hundreds of thousands of appointments to-date. Underscoring the essential role of its platform in helping health systems enhance and scale digital patient access, Kyruus retained over 98% of its customer base despite the pandemic, sustaining its trend over the last several years.
To support its growing customer base and far-reaching vision, Kyruus grew its employee base by over 60% in 2020 and, despite the rapid shift to remote work, employees reported high levels of satisfaction, earning Kyruus recognition as a top place to work by several prestigious organizations, including The Boston Globe and The Boston Business Journal. The company also recently received additional recognition from Built In Boston, which ranked Kyruus number one on its list of Boston’s 100 Best Midsize Places to Work.
“Looking back on 2020, I am deeply proud of how the Kyruus team stepped up to meet unforeseen challenges and bolster our customers’ tireless work serving their communities,” said Graham Gardner, MD, CEO of Kyruus. “We know there is a patient on the other end of every appointment booked through our platform and we are honored to connect them to the right care for their needs. We could not be more excited to extend that service to health plans in the year ahead.”
In order to accelerate that expansion into health plans, Kyruus capped off 2020 by announcing its plans to acquire HealthSparq, a trailblazing healthcare guidance and transparency technology company serving 100 health plan brands and their 80 million members across the United States. Joining forces will enable the two companies to capitalize on their respective footholds in the health system and health plan markets, respectively, to form new bridges in the healthcare ecosystem and help people find the right care more effectively, regardless of where they start the search.