Kyruus has large-scale growth in its sights, with plans to hire dozens of employees and take on more real estate space after receiving $25 million in Series C funding.
The latest round was led by New York-based venture capital firm New Leaf Venture Partners. Providence Health & Services, Leerink Capital Partners, and McKesson Ventures also participated, along with previous backers Investors Venrock, Highland Capital Partners, Lux Capital and Fidelity Biosciences also returned to participate.
Kyruus focuses on selling software that allows health care systems to better match patients with the right doctor.
Kyruus, a five-year-old company, has most of its 110 employees out of a Boston office. It focuses on selling software that allows health care systems to better match patients with the right doctor.
“If you look at what hospitals are struggling with today it's taking all the demand into the system and best allocating it out to the right provider,” said Kyruus CEO Graham Gardner, in a phone interview. “Geographically, what’s convenient to the patient, who takes care of the right condition, they might need to meet certain insurance criteria and availability. You try to think who is the right person in the network and match them to the right resource.”
Kyruus’ systems have been in high demand as of late, as providers realize they need help utilizing all the resources in a system and coordinating care in large networks.
The organization will subsequently begin building up client development teams and implementation teams to broaden the platform to more markets, as well as thinking about ways to expand the product.
“We’re beginning to also power hospital websites as consumers are looking for the right doctor for them online, we enable them to have right info available to them on the websites as well,” Gardner said.
While Gardner wouldn’t provide specific client numbers or client growth, he said they are planning aggressive growth at a high level.
The company already boasts Steward Health Care, Partners HealthCare, Providence Health & Services and others as clients.
Gardner said the company has plans to hire dozens of employees across several functions, mainly in Boston. The company will also be hiring at its locations in New York and San Francisco.
That growth has meant the company is already searching for more space. Currently taking up a floor in the financial reserve building, Kyruus will either take over another floor or search for space elsewhere.
To date, the company has raised upwards of $56 million in venture capital funding.
Meanwhile, New Leaf remains on the hunt for health-centric startups. Last month, the firm participated in a Series D financing of $38 million for ReShape Medical, a manufacturer of weight loss devices. New York-based HealthCor Partners Management led the round.
Anthony Noto with the New York Business Journal contributed to this report.