The world’s first sobriety management platform.
Kyros is a first-of-its-kind digital platform for people and organizations within the recovery community. After going through his own recovery experience in 2019, Founder and CEO Daniel Larson saw an opportunity to harness the power of technology to increase positive recovery outcomes for the more than 30 million people affected by substance use disorder.
Recovery is a $43B industry that is poised to grow to more than $53B in the next few years, with additional funding coming in from recent opioid settlements. There is an enormous need for innovative solutions in the recovery industry, but it’s by and large been a late adopter of technology.
Kyros’ marketplace technology platform expands the reach of substance use disorder providers. The marketplace connects clients with providers, facilitating both in-person and online interactions. Kyros then bills insurance directly to reimburse providers, which keeps services free-of-charge for clients. Kyros also connects organizations to additional services and capacities, so they can focus on client work instead of backend logistics.
Rally Ventures led Kyros’ $4.4M series seed financing in March 2022 and then doubled down by leading a $2.4 million follow-on financing in October 2022 because we believe it has the potential to transform the recovery space. The team is making great progress. Kyros has grown from zero to more than $10 million in ARR since it was founded eighteen months ago.
Rally Ventures has been involved and engaged since our initial seed investment. Our team helped the company craft its board materials and investor reporting. We’re leading their Series A process by making connections to additional investors. Plus, we’ve made several introductions to key hires and have multiple tech partners currently involved.
The Kyros team is rapidly growing, and our Chief People Officer Jessi Howard is leading hiring and human resources as their fractional CPO. Jessi provides fractional HR resources for several of our portfolio companies. Most early-stage startups don’t have the need or resources for a full-time position, but HR and recruitment are critical to their success.