SPRY Therapeutics bags $15M from Flourish Ventures, others

SPRY Therapeutics, an AI-driven practice management platform, has secured $15 million in funding from Flourish Ventures, Together Fund, Fidelity's Eight Roads, and F-Prime Capital. 

The latest round brings the company’s total funding to $25 million, since its launch in 2021. SPRY Therapeutics will utilise the new investment to fuel its rapid expansion across the US market. 

"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.

Founded by Ola's former CTO Brijraj Bhuptani and Riyaz Rehman, SPRY is an end-to-end patient and practice management platform for physical therapists that integrates clinical, finance, and administrative functions. The platform automates the intensive billing process while addressing patient engagement, customised data entry, and report generation.

The SaaS platform enables practitioners and owners of physical therapy centres to manage their clinical and administrative functions, such as patient intake, assessments, home exercise plans, electronic medical record (EMR), revenue cycle management, and patient lifecycle management. 

In just 18 months, SPRY has partnered with over 105 US-based clinics across 30 states. 

The Pune- and Delaware-based firm earlier raised $7 million led by Eight Roads Ventures, with participation from F-Prime Capital and existing investors, in 2022. 

"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," said Kabir Kumar, Partner at Flourish Ventures. 

"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," he added.