We’re thrilled to announce our investment in Spry, a company set to revolutionize the physical therapy sector with an innovative SaaS platform.
An industry on pen and paper
Physical therapy has long been plagued by outdated systems. Many therapists still run their day on pen, paper or spreadsheets, leading to inefficiency and disjointed care.
About 14% of patients also miss follow-up appointments. Poor adherence delays recovery and increases the total cost of care.
What Spry does
Spry provides a comprehensive SaaS platform built specifically for physical therapists, integrating clinical operations into one system and automating the work that drains therapist time. Electronic health records are automated and data captured without manual input, so therapists can focus on patients.
The platform also improves outcomes through continuous feedback between patient and therapist, keeping people on track with prescribed exercises. Remote monitoring lets therapists measure recovery progress and intervene when needed — and can generate additional revenue for the clinic.
The market opportunity
In the US alone, physical therapy is a $34.5 billion industry projected to grow to $45.7 billion. An ageing population, more joint replacements, sports injuries and rising obesity all drive that growth, while healthcare’s shift to digital makes Spry’s offering a necessity rather than a convenience for clinics that want to stay competitive and compliant.
The team
Brijraj Vaghani, co-founder and CEO, previously built Ridlr, a ticketing and payments app that raised $10 million and was acquired by Ola for $50 million. As CTO of Ola Cabs he oversaw a team of 500 and played a key role in international expansion. Riyaz Rehman, his co-founder, has worked closely with him for over seven years; together they have built partnerships with government bodies, tackled complex B2B sales and scaled businesses.
The competitive picture
WebPT dominates the market with a 40% share but does not address automated EMR entry or patient adherence — the two problems central to Spry’s offering. The rest of the field is highly fragmented, leaving a clear opening for Spry to take a leadership position.