Nurx, a telemedicine platform that offers birth control prescriptions, raised an additional $22.5 million in Series C funding, bringing its C round to $74.5 million.
The company’s telemedicine service includes online medical consultation, a personalized treatment plan, and ongoing check-ins with their medical team.
With new funds, the company plans to continue expanding patient growth and introduce new services for sensitive health conditions. It also plans to use the funding to continue expanding its clinical, operations, and engineering teams in the near future.
The company has provided over 1 million virtual consultations and plans to introduce treatment for headaches and migraines this month. Currently, it is providing care to more than 300,000 patients every month and expects to reach profitability by early 2021.
Further, the company said the COVID-19 pandemic had driven increased demand for its services with a 75% increase in new patient requests for birth control during the first half of the year, totaling over 250,000 new patient requests. It has also received twice as many requests for sexually transmitted infections (STI) home testing and treatment, PrEP for HIV prevention, and oral and genital herpes treatment services in recent months, the company said in a statement.
Existing investors Union Square Ventures and Kleiner Perkins Digital Growth Fund led the additional funding round with participation from new investors Trustbridge, Comcast Ventures, and Wittington Ventures.
“Nurx has demonstrated consistent growth over the last year, and as the pandemic placed strain on our healthcare system, the company was well positioned to capture the sudden surge in demand for telemedicine services,” said Sam Landman, Comcast Ventures Managing Director. “The Nurx team has established a leadership position with birth control and women’s health while also steadily taking market share across several additional sensitive health conditions. We’re eager to see the team continue their accelerated growth, bolstered by shifting consumer expectations and offerings in new categories.”
Nurx, founded in 2015, has raised over $125 million to date. Telehealth companies led the digital health funding activity during 1H 2020, raising almost $1.9 billion. Recently, Ro, an online health startup that started by selling hair loss supplements and erectile dysfunction medication to men, raised $200 million in the latest funding round at a valuation of $1.5 billion.