Ro (company)
Ro is an American telehealth company that diagnoses patients, and subsequently prescribes and delivers treatments.[1] The company is headquartered in New York City.[2]
| Type | Private |
|---|---|
| Industry | Health |
| Founded | 2017 |
| Founder |
|
| Headquarters | New York, NY |
| Website | www |
Overview edit
Ro was launched as Roman in October 2017 by Zachariah Reitano, Saman Rahmanian, and Rob Schutz.[3] Reitano's experience with erectile dysfunction led him to co-found the company.[4] It has both a telemedicine practice and a pharmacy to distribute medications for erectile dysfunction, hair loss, premature ejaculation, cold sores, and genital herpes treatments.[5] In September 2018, the company renamed itself Ro and began marketing smoking cessation products,[6] under the brand name Zero.[7] In March 2019, Ro launched women's health products aimed at menopause, such as hot flashes and vaginal dryness, under the brand name Rory.[8] In November 2021, Ro began selling at-home COVID tests, called On/Go, with 10 pharmacy distribution centers in the US.[9][10]
Ro raised $3.1 million in a seed funding round led by General Catalyst[11] and $88 million in a Series A funding round led by FirstMark Capital.[12] In July 2020, Ro raised $200 million in a series C funding round, bringing its funding total to $376 million.[13] In March 2021, Ro raised $500 million in a series D funding round led by General Catalyst, FirstMark Capital, and TQ Ventures, giving the company a $5 billion valuation.[14]
Ro placed #2 in Wellness in Fast Company's World's Most Innovative Companies in 2019.[15]
Platform edit
The company started out as a telehealth business aimed at men to treat issues such as erectile dysfunction and hair loss, before expanding to include business lines for women's health, smoking cessation, and weight loss. It operates outside of the traditional US health insurance system.[14] Patients fill out a dynamic online visit answering questions about their health, lifestyle, medical history, and symptoms.[16][17] A physician will review the results and prescribe medication if appropriate.[16] Medications will then be shipped in discreet packaging and the medicines will be refilled monthly or quarterly.[18]
Products edit
- Roman: A digital health clinic for men. It provides treatment to males for conditions including hair loss, erectile dysfunction, and premature ejaculation, with no in-person doctor's visit needed.[9]
- Rory: A digital health clinic for women founded in 2020, with services including skin care and sexual health treatments.[9]
- Zero: A virtual, medical smoking cessation program launched in 2018.[9]
- Ro Pharmacy: An online pharmacy that distributes generic prescriptions across the United States.[9]
- Ro Mind: A mental health clinic treating anxiety and depression, which has since been deprioritized by the company.[9]
- Plenity: A weight management product launched in October 2020, created by Gelesis and sold by Ro.[19]
Acquisitions edit
In December 2020, the company acquired WorkPath, which sends phlebotomists into patient homes to draw blood for diagnostic tests.[14]
On May 19, 2021, the company announced that it had acquired women's reproductive health company Modern Fertility, in a deal reported to be over $225 million.[20]
On June 30, 2021, the company announced the acquisition of Kit, a startup offering at-home diagnostic tests, including finger prick blood tests and weight measurement tools.[21]
Sponsorships edit
Ro's Roman brand is the presenting sponsor of the College Basketball Invitational tournament,[22] and an official sponsor of Major League Baseball.[23] Roman sponsored NASCAR Cup Series driver Ryan Newman's No. 6 Roush Fenway Racing car at the 2020 Coca-Cola 600.[24]
References edit
- ^ "Erectile pharmacy app Ro launches telehealth service for women". Metro US. 2017-11-13. Retrieved 19 January 2018.
- ^ "DIGITAL HEALTH BRIEFING: Digital health funding to hit $7B in 2017 — Roman launches health platform with $3.1M — Under Armour drops HealthBox". Business Insider. Retrieved 19 January 2018.
- ^ "NYC Startup Raised $3.1M to Raise Awareness for Men's Health". AlleyWatch. 2017-11-06. Retrieved 19 January 2018.
- ^ Schneier, Matthew (2017-11-28). "Finally Putting Some Fun in Erectile Dysfunction". The New York Times. ISSN 0362-4331. Retrieved 19 January 2018.
- ^ Reitano, Zachariah (2018-10-23). "Roman moves beyond ED". Medium. Retrieved 2019-05-30.
- ^ Harris, Ainsley (18 September 2018). "Telemedicine startup Roman just raised $88M to help you quit smoking". Fast Company. Retrieved 21 March 2019.
- ^ "Quit Smoking: Everything You Need to Stop Smoking, Delivered in a Kit". Zero. Retrieved 21 March 2019.
- ^ "Rory Tackles a Missed Opportunity in Telehealth—Treating Menopause". Fortune. Retrieved 2019-05-30.
- ^ a b c d e f "Want a Covid Test With Your Viagra?". The New York Times. Retrieved February 3, 2022.
- ^ "How a Company Built on Erectile Dysfunction Treatments Started Offering COVID Tests". insidehook.com. Retrieved February 3, 2022.
- ^ Constine, Josh. "Roman is a cloud pharmacy for erectile dysfunction". TechCrunch. Retrieved 19 January 2018.
- ^ Constine, Josh. "Erectile pharmacy app Roman raises $88M to launch 'quit smoking' kit". TechCrunch. Retrieved 1 October 2018.
- ^ "Ro, a 3-year-old online health provider, just raised a new round that values it at $1.5 billion". cnbc.com. Retrieved February 8, 2022.
- ^ a b c "Digital Health Startup Ro Raised $500 Million At $5 Billion Valuation". forbes.com. Retrieved February 8, 2022.
- ^ "The World's Most Innovative Companies 2019: Wellness Honorees". Fast Company. Retrieved 2019-06-03.
- ^ a b "A startup aims to help the 18 million US men diagnosed with erectile dysfunction pay attention to their 'check-engine light'". Business Insider. Retrieved 19 January 2018.
- ^ mHealthIntelligence. "Telehealth Offers a Platform For Discussing Sensitive Health Issues". mHealthIntelligence. Retrieved 19 January 2018.
- ^ O'Brien, Sara Ashley. "Men's health gets the Silicon Valley treatment". CNNMoney. Retrieved 19 January 2018.
- ^ "Ro takes $30M bet on weight loss product Plenity". mobilehealthnews.com. Retrieved February 3, 2022.
- ^ "Health care startup Ro acquires Modern Fertility in a deal signaling growth in women's health sector". fortune.com. Retrieved February 8, 2022.
- ^ "Ro buys Kit". techcrunch.com. Retrieved February 8, 2022.
- ^ "2019 Roman CBI Field Announced". 18 March 2019.
- ^ "MLB announces efforts to raise awareness for prostate cancer, including new multi-year partnership with Roman". mlb.com. Retrieved February 8, 2022.
- ^ "Roman to Power Ryan Newman & the No. 6 Team at Prestigious Coke 600 Sunday, May 24". Roush Fenway Racing. May 20, 2020. Retrieved July 17, 2022.