Healthcare DTC company Ro is adding $150M in funding raised from existing investors to expand its DTC offer and take further advantage of the digital health momentum and demand generated by the pandemic. The round was led by ShawSpring Partners, with participation from General Catalyst, FirstMark Capital, TQ Ventures, SignalFire, BoxGroup, The Chernin Group, Initialized Capital, Altimeter Capital, Baupost Group, and Seven Seven Six.
Ro will use the new round of funding to introduce one Ro-branded platform for web and mobile in 2022, that will allow users access to all of the company’s care and pharmacy services in one place covering mental health, men’s health, women’s health, fertility, metabolic health and skincare. Ro Derm, the company’s new virtual clinic for skincare, launches today.
Zachariah Reitano, Co-Founder & CEO of Ro, said: “In less than five years, Ro has become the only company to combine nationwide telemedicine, in-home care, diagnostics, labs, and pharmacy services. With this funding, Ro can accelerate our pursuit of revolutionizing healthcare by building accessible, impactful, and trusted care that people want. This year, that means debuting a unified, single-branded care experience for our patients and further enabling other healthcare companies to benefit from the patient-centric technology and services we’ve built.”
Just last year Ro made the news when it acquired well-known fertility company Modern Fertility. Margo Georgiadis, who “inspired the deal”, has since joined Ro’s Board of Directors and is reportedly bullish when it comes to women’s health. With new funds and a vision to build a “one stop shop” for consumer healthcare, it is likely that Ro will be looking to add more and more indications to its platform over time. So will there be more femtech acquisitions in Ro’s future? One can only speculate, but in our opinion all signs point to “Hell, yeah!”.