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§ Private Profile · Wilmington, DE, USA
Spry is a technology company.
Spry provides an all-in-one software platform for intercollegiate athletic department management. It centralizes and streamlines critical functions, including compliance, Name, Image, and Likeness (NIL) administration, communication, and various administrative tasks. Featuring SpryConnect for operational efficiency and transparency, alongside SpryNIL for comprehensive NIL disclosures and education, the platform simplifies complex workflows for collegiate sports programs.
Founded in 2020 by Lyle Adams, a former NCAA champion, Spry emerged from his direct experience with collegiate athletic department complexities. His professional soccer career and early tech role at Uber informed his founding vision. Adams recognized the need to reduce administrative burdens, enabling athletes and coaches to focus more intently on their core athletic pursuits.
Spry’s platform serves athletic departments, administrators, coaches, and student-athletes across NCAA, NAIA, and NJCAA institutions. The company’s mission is to empower stakeholders with agile, user-centric tools, enhancing productivity and transparency. Spry aims to advance collegiate athletics by developing impactful products that address evolving challenges and foster operational excellence.
Spry has raised $25.0M across 3 funding rounds.
Spry has raised $25.0M in total across 3 funding rounds.
Spry has raised $25.0M in total across 3 funding rounds.
Spry's investors include Andreessen Horowitz, Jenny Fielding, Scott Hartley, Flex Capital, Flourish Ventures, F-Prime Capital Partners, Greylock, Maverick Capital, Oak HC/FT, Second Century Ventures, S J.
Spry has raised $25.0M across 3 funding rounds. Most recently, it raised $15.0M Series B in October 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 1, 2024 | $15M Series B | — | Andreessen Horowitz, Jenny Fielding, Scott Hartley, Flex Capital, Flourish Ventures | Announced |
| Jun 1, 2022 | $7M Series A | — | F Prime Capital, Greylock, Maverick Capital, OAK HC/FT, Second Century Ventures, S J | Announced |
| Dec 15, 2021 | $3M Seed | — | — | Announced |
Spry (SPRY Therapeutics) is a Series A-stage technology company founded in 2021 that builds an AI-driven, all-in-one practice management platform for physical therapy (PT) clinics across the U.S.[1][2][4] Its core product, SPRY EMR + RCM, integrates electronic medical records (EMR), smart charting with AI-powered SOAP notes, scheduling, billing, insurance eligibility verification, patient engagement, and real-time reporting into a single cloud-based interface, serving solo practitioners to multi-location groups.[1][2][4] Spry solves critical pain points like complex insurance reimbursements, cash flow delays, manual documentation, and administrative burdens, enabling clinics to automate workflows, boost reimbursements (e.g., 40% faster for some users), reduce no-shows, and focus on patient care—trusted by over 500 rehab clinics with $25M raised, including a $15M Series A in 2024 led by Flourish Ventures.[1][4]
The platform's growth momentum is strong, with a Mosaic Score up +111 points recently, expansion funding for U.S. market scaling, and proven results like $50K revenue boosts and 24-hour claims processing for customers switching from legacy EMRs.[1][4]
Spry was co-founded in 2021 by Brij Bhuptani (CEO, former CTO of Ola) and Riyaz Rehman (CPO), who identified inefficiencies in PT clinic operations through their tech expertise in scaling consumer platforms.[1][2] The idea emerged from addressing the fragmented physical therapy ecosystem, where clinics struggle with disjointed tools for clinical, financial, and administrative tasks—Bhuptani and Rehman's background in high-growth tech enabled a full-stack solution tailored for U.S. therapists.[1][2] Early traction included a 2023 seed round, followed by a 2024 Series A led by Flourish Ventures, fueling U.S. expansion; pivotal moments feature rapid adoption by 500+ clinics and case studies showing seamless upgrades with zero downtime and immediate revenue gains.[1][2][4]
Spry rides the wave of AI-driven healthcare vertical software, targeting the $50B+ U.S. physical therapy market strained by rising demand for outpatient rehab amid aging populations and post-pandemic musculoskeletal issues.[1][2] Timing is ideal as clinics face reimbursement pressures from payers like Medicare, manual EMR inefficiencies, and labor shortages—Spry's full-stack platform capitalizes on these by consolidating tools fragmented across incumbents.[1][4] Market forces favoring Spry include AI adoption in medtech (e.g., for documentation), shift to value-based care demanding outcomes data, and digital transformation in SMB healthcare, where 70% of PT clinics still use outdated systems.[4][6] It influences the ecosystem by empowering therapists to prioritize care over admin, potentially consolidating the PT software market and enabling data-driven practices that improve patient access to movement health.[1][6]
Spry is poised for hypergrowth, leveraging its $25M war chest to expand U.S. footprint, enhance AI features (e.g., predictive analytics for outcomes), and possibly enter adjacent therapies like OT or chiropractic.[1][2] Trends like AI automation in healthcare, payer reforms emphasizing efficiency, and clinic consolidations will propel it—expect Series B funding and 2-3x clinic growth in 2026 as reimbursements digitize.[1][4] Its influence could evolve from niche disruptor to category leader, redefining PT profitability and making "pain-free movement" scalable, much like how it already transforms clinics from admin-heavy to patient-focused powerhouses.[6]