NEW YORK — Ro, a direct-to-patient healthcare company, has raised an additional $150 million exclusively from existing investors. The funding 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.
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.”
Ro also announced the launch of Ro Derm — a digital clinic for skincare and the latest Ro-branded offering following the launch of Ro Mind, a digital clinic for mental health, and Ro Pharmacy, a cash-pay online pharmacy.
This news follows several other major milestones since the company’s last funding round in March 2021, including:
Ro will use the newly-raised capital to strengthen its position in direct-to-patient care — a model of healthcare that uses technology to reduce costs, expand access, and empower patients to choose and pay for the healthcare they want and need.
In 2022, Ro says it will introduce one Ro-branded platform, online and mobile, for patients to access all of the company’s care and pharmacy services. This single destination will support patients’ needs across mental health, women’s health, men’s health, fertility, metabolic health, and skincare. The unified platform will combine all of Ro’s vertically integrated capabilities including virtual and in-home care, at-home diagnostics, labs, and pharmacy fulfillment. By unifying all of its offerings in one place, Ro will be able to deepen its relationship with patients and simplify the healthcare experience.
Additionally, this year, Ro plans to continue to expand its B2B offering, building on the momentum Workpath and Kit experienced in 2021, to enable healthcare companies of all kinds to utilize Ro’s patient-centric products and services. Today, Ro’s B2B offerings are being used by health systems, clinical trials operators, labs, digital health companies, Fortune 100 companies, and more nationwide.
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