Kranus Health increases funding to USD 20 Million total, cementing its position as a leader in virtual care in urology
Berlin / Munich / Paris, 25th of March 2024
Kranus Health, the global leader in virtual care in urology, is announcing a substantial increase in its Series A funding by USD 5 million, bringing its total company funding to over USD 20 million. This new investment round brings Kranus Health into the forefront as one of the best-funded virtual care companies across Europe. This significant financial boost is led by venture capital firms CapHorn and Future Positive Capital, and demonstrates Kranus Health’s ambition to expand internationally, recently underlined by its entry into the French market.
The current state of urological care is not satisfactory for patients. Access to specialists is difficult and often only symptomatic treatments are available. Furthermore, especially in urology, patients often hide their health problems. This is where Kranus Health drives change by providing a key to better medical care and working with specialists to discreetly treat root causes.
Following a successful market entry in France in July 2023, Kranus Health is doubling down on its commitment internationalization plans, dedicating additional capital for expansion in Europe and the US as well as the roll-out of further therapies in Urology. Recently, the company has broadened its care spectrum in Urology from Andrology to treatment for BPH (benign prostatic hyperplasia) in men and incontinence in women, two of the indications with the highest prevalence in Urology as a whole. With its upcoming virtual therapy for prostate cancer, Kranus Health will cover all top indications by prevalence in Urology. “I am very pleased to join forces with Cap Horn and Future Positive Capital, two French funds with global ambitions which diversify and strengthen our community of shareholders”, outlined Jens Nörtershäuser, Founder and Co-CEO of Kranus Health.
The company's focus is on direct sales through medical experts. “A cornerstone of our strategy from day one has been a strong focus on healthcare professional (HCP) led sales and the establishment of our own dedicated sales force”, stated Thilo Kleinschmidt, Co-founder and Co-CEO of Kranus Health. "As we move forward, our aim is to scale our HCP sales efforts further, broadening our engagement and extending our reach.” Kranus Health is focusing on Urologists to make them aware of the new holistic, digital therapy options in the field of urology. The company also has a distribution partnership with the pharmaceutical company Pohl-Boskamp to target general practitioners. Further partnerships with pharmaceutical companies and physicians are planned for this year.
Kranus Health already works with over 1.000 prescribing urologists and has treated more than 10.000 patients with its virtual care solutions successfully. Looking ahead, the company is well on the way to more than triple the volume of patients in treatment within 2024. This reaffirms Kranus Health’s leadership position in virtual urology and its ambition to improve urological patient care on a global scale.
About Kranus Health
Kranus Health is the leading global provider of virtual urology care, marking a milestone in digital healthcare with the launch of the first and still only digital health applications in urology across both Europe and the US. Kranus Health is providing a full range of therapies from Andrology to Uro-Oncology, actively broadening its array of virtual care journeys backed by clinical evidence.
Kranus Health was founded in 2020 under the scientific leadership of Prof. Dr. Kurt Miller, former Medical Director of the Department of Urology at Charité. Co-founders and Co-CEOs Jens Nörtershäuser & Thilo Kleinschmidt, who have known each other for many years through their shared time at McKinsey, lead the venture. Nikolay Dimolarov (formerly Celonis) complements the four-member founding team as Chief Technology Officer. Kranus Health's French-German team now comprises over 70 employees working at the company's locations in Munich, Berlin and Paris. Together with an experienced leadership team, the company envisions developing further digital therapies and expanding its global presence to enhance healthcare in urology worldwide.