New York-based telehealth startup Ro raised a $200M Series C to become a patient’s first call for healthcare needs
Ro, a New York-based telehealth startup is a healthcare that handles everything from online diagnosis to the delivery of medication, announced today it has raised a $200 million Series C led by General Catalyst, bringing total funding since launch to $376 million. The company’s valuation has also tripled in just 15 months.
Ro will use the fresh funding to enhance Ro’s custom built technology that connects patients and providers (building out our custom electronic medical record system and integrating diagnostic + laboratory data). The startup also plans to double its engineering team to accelerate its strategy.
Founded in 2017 by Zachariah Reitano, Rob Schutz, and Saman Rahmanian, Ro is a patient-driven telehealth company that puts patients in control of their health. The company builds technology to make healthcare accessible, affordable and enjoyable. Ro powers three digital health clinics — Roman for men’s health, Rory for women’s health, and Zero for fighting smoking cessation — as well as Ro Pharmacy, a simple and affordable online pharmacy where every generic medication is $5 per month.
The company’s nationwide network of physicians and pharmacies provides a personalized, end-to-end healthcare experience from online treatment to the delivery of medication and ongoing care. In fewer than three years, Ro has facilitated more than five million digital healthcare visits for patients in nearly every county in the United States, including 98% of primary care deserts. Ro’s services are entirely cash-pay, requiring no insurance. Visit Ro.co for more information.
Commenting on the funding, Zachariah Reitano, Co-Founder & CEO of Ro, said: “Every single person deserves high-quality, affordable healthcare. At Ro, we believe the only way to do this is by putting patients at the center of their care and building technology to empower providers to do what they do best — help people. This new investment will further our mission to become every patient’s first call. We’ll continue to invest in our vertically-integrated healthcare ecosystem, from our Collaborative Care Center to our national pharmacy operating system. This is just the beginning of Ro’s patient-centered healthcare platform.”
Ro will also use the newly-raised capital to further its mission to build technology to address access and affordability challenges faced by patients in today’s healthcare system. In this effort, Ro plans to offer remote patient monitoring with integrated devices for chronic disease management, urgent care, and at-home testing on its platform in the near future.
Dr. Joycelyn Elders, MD, Ro Medical Advisor and Former US Surgeon General, said: “Telehealth companies like Ro are using technology to address long-standing healthcare disparities that have been exacerbated by Covid-19. By empowering providers to leverage their skills as efficiently and effectively as possible, Ro delivers affordable, high-quality care regardless of a patient’s location, insurance status, or physical access to physicians and pharmacies.”