A specialty pharmacy that uses telemedicine and mobile apps to reach patients dealing with menopause, erectile dysfunction and efforts to stop smoking has raised $85 million in new capital.
New York-based Ro, which handles everything from online diagnosis to the delivery of medications, has raised the new influx of money from FirstMark Capital, an early-stage venture capital firm in New York City, according to Crunchbase.com
In September, FirstMark also invested $88 million in Ro bringing the firm’s total investment to $173 million, according to Crunchbase.com.
Ro, which launched under the name Roman in 2017, will use the money for further hiring and product development, the company says.
In 2017 Roman launched as a telemedicine operation and digital pharmacy aimed at helping male patients treat erectile dysfunction and obtain a prescription for Viagra, Cialis or a generic alternative.
Since then, Ro has expanded into other consumer health-and-wellness vertical categories with the launch of Rory, an online digital healthcare and telemedicine service designed to help female patients with treatment for menopause, and Zero, a stop-smoking service. The Zero service includes online interaction with a healthcare provider, a personalized treatment program and an app for tracking progress with the use of such products as nicotine gum.
Ro charges about $15 for a telehealth visit and a $129 per month fee for the app and nicotine products.
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