Total amount raised
$1 Billions
Latest funding date
Location
Ro has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company operates a telehealth platform that offers a range of digital health services, including treatments for sexual health, weight loss, hair loss, and skin care.
Keep reading to explore the intricacies of Ro's fundraising journey and the investors backing this innovative platform.
What Is Ro?
Ro, founded in October 2017, is a telehealth startup based in New York, New York. The company was established by Rachel Blank, Rob Schutz, Saman Rahmanian, and Zachariah Reitano.
Ro operates digital health clinics that cater to both men's and women's health, offering services such as smoking cessation, weight loss, and skin care. Their platform integrates telehealth, diagnostics, and pharmacy services to provide comprehensive healthcare solutions.
With a workforce of 501-1000 employees, Ro continues to expand its reach, aiming to make high-quality healthcare accessible and affordable without the need for insurance.
How Much Funding Has Ro Raised?
- Seed Round
- Amount Raised: $3.1M
- Date: November 2017
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the platform and begin offering telehealth services.
- Series A
- Amount Raised: $88M
- Date: September 2018
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and scale operations.
- Series B
- Amount Raised: $85M
- Date: April 2019
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform and increase market reach.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and future growth.
- Series C
- Amount Raised: $200M
- Date: July 2020
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and improve technology infrastructure.
- Series D
- Amount Raised: $500M
- Date: March 2021
- Lead Investors: FirstMark, General Catalyst, TQ Ventures
- Valuation at Round: $5 billion
- Motivation Behind the Round: To scale operations and expand into new healthcare verticals.
- Series D (Additional)
- Amount Raised: Not publicly disclosed
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and enhancing service offerings.
- Venture Round
- Amount Raised: $150M
- Date: February 2022
- Lead Investors: ShawSpring Partners
- Valuation at Round: $7 billion
- Motivation Behind the Round: To integrate services into a unified patient experience and advance B2B offerings.
Total Amount Raised: $1.026 billion. Current Valuation: $7 billion.
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. They have a strong focus on technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Stripe, Snap.
- FirstMark Capital
- Details: FirstMark Capital is a New York-based venture capital firm that invests in technology and healthcare startups. They aim to partner with visionary entrepreneurs to build industry-defining companies.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Pinterest, Shopify, Riot Games.
- ShawSpring Partners
- Details: ShawSpring Partners is an investment firm that focuses on long-term investments in technology, consumer, and healthcare sectors. They led Ro's recent $150 million funding round.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Not publicly disclosed.
- TQ Ventures
- Details: TQ Ventures is a venture capital firm that invests in consumer, technology, and healthcare sectors. They are known for their strategic investments and partnerships.
- Investment Focus Areas: Consumer, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- BoxGroup
- Details: BoxGroup is an early-stage investment fund based in New York City. They invest in technology startups across various sectors.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Warby Parker, Glossier, ClassPass.
What's Next for Ro?
Ro stands at the cusp of a transformative era in healthcare, with opportunities to integrate its services into a unified patient experience and expand its B2B offerings. The recent $150 million funding round will bolster these efforts, enabling Ro to launch new digital clinics and diversify into areas like fertility care and mental health. The potential for growth is immense, with the company already facilitating over 150,000 in-home care appointments and achieving a 150% revenue increase in Ro Pharmacy.
Future fundraising opportunities are likely as Ro continues to expand its service offerings and attract new investors. The company’s strategy to unify all services under one Ro-branded platform and expand its B2B offerings could attract significant investment. However, challenges such as integrating various services into a seamless platform and maintaining high-quality care while scaling operations remain. Navigating regulatory requirements and competing with other digital health companies will also be critical as Ro moves forward.
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