Spry has raised $22.0M in total across 2 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 (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]
Spry has raised $22.0M across 2 funding rounds. Most recently, it raised $15.0M Series B in October 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2024 | $15.0M Series B | Andreessen Horowitz, Jenny Fielding, Scott Hartley, Flex Capital, Flourish Ventures | |
| Jun 1, 2022 | $7.0M Series A | F-Prime Capital Partners, Greylock, Maverick Capital, Oak HC/FT, Second Century Ventures, S J |
