Ro, the health care technology company, announced it has completed a $500 million Series D fundraising round led by existing investors General Catalyst, FirstMark Capital and TQ Ventures, with significant participation from existing investors SignalFire, Torch Capital and BoxGroup as well as new investors Altimeter Capital, Baupost Group, Dragoneer Investment Group, ShawSpring Partners, Radcliff, and 776. The Series D brings Ro’s total fundraising since its founding in 2017 to $876 million.
Ro will use the newly-raised capital to strengthen its vertically integrated primary care platform. Ro plans to expand its pharmacy distribution network, continue to enhance its proprietary electronic medical record system (EMR: the Ro Collaborative Care Center), build new capabilities such as remote consumer monitoring with integrated devices, and broaden into additional treatment areas that leverage its diagnostic capabilities.
The Series D round follows Ro’s acquisition of Workpath, a software platform that enables health care companies to offer on-demand, in-home care and diagnostic services with a simple API. The acquisition has allowed Ro to seamlessly integrate virtual and in-person care on its own platform and offer these in-home capabilities to other health care companies.
Leveraging this in-home care capability, Ro recently launched its COVID-19 Vaccine Drive. Working with New York State’s Department of Health, Ro is administering COVID-19 vaccinations for eligible New Yorkers directly in their homes. The program aims to help vulnerable populations, including the elderly and homebound, that face logistical challenges accessing vaccination sites. The Vaccine Drive is currently active in select zip codes in Yonkers, New York.
Ro is using this same capability to offer in-home diagnostic testing, which will enable health care professionals on Ro’s platform to treat conditions that require lab work in a way that is safe and convenient for consumers.
In addition to in-home care, Ro’s vertically integrated primary care platform allows for the immediate nationwide distribution of new treatments and medical devices. Ro recently partnered with health care AI company Gauss to offer Gauss’s smartphone-powered, at-home COVID-19 rapid antigen tests on its platform upon Food and Drug Administration Emergency Use Authorization. Ro has also partnered with biotechnology company Gelesis to make its weight management treatment Plenity available to consumers nationwide utilizing Ro’s nationwide network of affiliated health care practitioners and pharmacy distribution centers.
Ro is the health care technology company building a consumer-centric health care system. Ro’s vertically integrated primary care platform powers a personalized, end-to-end health care experience from diagnosis to delivery of medication, to ongoing care. With a nationwide health care professional network, in-home care API, and proprietary pharmacy distribution centers, Ro seamlessly connects telehealth, diagnostics, and pharmacy services to provide high-quality, affordable health care without the need for insurance. Since 2017, Ro has facilitated more than six million digital health care visits in nearly every county in the United States, including 98% of primary care deserts.
This was reported by Ro on March 23, 2021.