Venture capitalists have valued direct-to-consumer telehealth business Ro at $500 million with an $85 million Series B financing, sources confirm to TechCrunch.
The fresh round of funding comes seven months after Ro — widely known for its men’s health brand Roman, a cloud pharmacy for erectile dysfunction — made headlines with an $88 million Series A.
Ro didn’t immediately respond to a request for comment.
The company’s outsized Series A, led by FirstMark Capital, was used to launch and scale its second digital health brand, “Zero,” a treatment plan meant to help men and women quit smoking. Zero sells a $129 kit complete with a month’s worth of prescription cessation medication Bupropion, nicotine gum and access to an app used to track progress.
Its latest infusion of capital will likely be used in part to support its third personalized health brand, Rory, a purveyor of women’s health products the business unveiled last month. Targeting menopausal women, Rory offers six products treating four conditions — including prescription medication and supplements for hot flashes, over-the-counter treatments for insomnia, prescription vaginal estrogen cream and an all-natural water-based lubricant for vaginal dryness and Latisse, which helps …read more