German Thryve secures €4M Series A to accelerate international growth

Thryve, a specialized B2B health data integration and analytics company, raised €4M in a Series A funding round. Their API aggregates individuals' health status across hundreds of health trackers. The round was led by Belgium's Capricorn Partners, with participation from IBB ventures as well as the specialized digital health funds of CRB Health Tech of Spain and the German Carma Fund.

A shrinking workforce and an ageing population create a yawning gap between demand for care and healthcare capacities across industrialized countries worldwide. In Germany alone, more than 30% of doctors will retire in the next five years, exacerbating the problem. Digital health services offer faster and more proactive care, favored by regulators, payers and consumers alike, with the market growing by more than 20% annually. With one in two people now using a health tracker, linking this data can help to prevent illness through early detection of disease and ensuring 24/7 access to actionable healthcare.

The company is on a mission to advance both early detection as well as treatment of diseases fully automated at home, using the rapidly increasing power of health trackers. Beyond growing its customer base in more than 20 countries, the newly acquired capital will enable Thryve to double down on its analytics and preventive health capabilities. It is already now providing assessments on mental, cardiovascular and metabolic health and will both expand coverage of its own markers, as well as allowing customers to run their algorithms within their engine.

Thryve’s engine simplifies the creation and maintenance of more than 100 APIs, providing access to wearables like the Apple Watch, Oura Ring or specialized health sensors in one integration. Its ISO27001 and ISO9001 certified engine automatically cleans, enriches and annotates close to 1.000.000.000 data points per day, ensuring regulatory compliance for both insurances and digital health services. The company’s analytics capabilities gained prominence during COVID-19, when its engine was used by the German government to monitor infections nation-wide.

Antoine D´Hollander, Investment Director Capricorn Partners, commented: "This new investment aligns with our investment strategy to utilize real-world data for personalized prevention and therapeutics. We are excited about Thryve's solution to create a cost-efficient healthcare ecosystem by integrating data from numerous wearable devices and health apps, facilitating tailored interventions and effective monitoring."

Friedrich Lammel, CEO Thryve, added: “Healthcare is in an epochal transition. I’m convinced, that our engine will help the industry making millions of doctor’s visits obsolete and adding 20 healthy years to individual’s lives in
the next five years. We’re excited to partner with leading European health funds on this mission and are looking forward to accelerate our growth.”