Nurx Secures $52 Million Series C Funding to Enhance Telehealth Platform and Expand Reproductive Health Offerings

On August 16, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical technology company Nurx announced the completion of a $52 million Series C financing round. The round was led by Kleiner Perkins Digital Growth Fund (Kleiner Perkins) and Union Square Ventures, with participation from Y Combinator, Reproductive Health Investors Alliance (Reproductive Health), Dreamers VC, Lowercase Capital, and Triple Point Capital.

Additionally, U.S. public health leader Chelsea Clinton and renowned surgeon Regina Benjamin will join the Nurx board of directors.

Nurx plans to use the proceeds from this round of financing to expand its medical services team, enhance its telemedicine consultation platform, and broaden its product market. The company aims to streamline the diagnosis and treatment process to improve the patient experience. According to U.S. tech news outlet TechCrunch, the latest funding round will value Nurx at $300 million.

It is reported that Nurx had previously completed four rounds of financing. Among them, the company closed a $36 million Series B round in July 2018 and a $5.3 million Series A round in October 2016.

Nurx, founded in 2014 and headquartered in San Francisco, USA, is a specialized health technology company. The company primarily focuses on customers' reproductive health issues, with products including contraceptive pills, HIV pre-exposure prophylaxis (PrEP), and home HPV testing kits. Nurx's products are available in 26 U.S. states and the District of Columbia, providing healthcare services to tens of thousands of patients.

In Europe and the United States, contraceptive pills are prescription-only medications that can only be purchased with a doctor’s prescription. Nurx’s team of physicians can directly issue prescriptions to patients through telemedicine consultations and provide the corresponding medications, significantly improving healthcare efficiency. Varsha Rao, CEO of the company, stated, “Nurx aims to streamline the patient care process by providing personalized, private medical services to meet their health needs.”

Nurx has also developed a mobile application based on its proprietary technology, providing a communication platform for patients and healthcare providers to facilitate medical services. Through this platform, patients can share their medical history with physicians, consult on specific symptoms, and request medications. If a physician approves the prescription, Nurx will ship the medication and home testing kits, among other products, directly to the patient’s residence within three to five days. Additionally, patients can maintain long-term contact with their primary care physicians via the platform to receive personalized health consultations.

Kleiner Perkins is a venture capital firm primarily focused on healthcare, innovative technology, software development, and agriculture. Over its 50-year history, the firm has invested in numerous tech startups.

Union Square Ventures was founded in 2014 and is headquartered in New York, USA. It is a venture capital and financial services firm that primarily invests in internet companies based in New York, San Francisco, London, and Berlin.

Y Combinator, founded in 2005 and headquartered in California, United States, is a venture capital firm. The company primarily focuses on sectors such as software development, consumer health, logistics, and agriculture, and has completed thousands of investments to date.

Reproductive Health is a U.S.-based investment firm primarily focused on the reproductive health sector, with its portfolio largely comprising startups in medical technology and health tech. The company aims to safeguard the health of American women by supporting sustainable development in the field of reproductive health.

Dreamers VC, established in 2018 and headquartered in California, USA, is a venture capital and financial services firm. The company primarily invests in technological innovation to drive the development of emerging technologies.

Lowercase Capital, founded in 2007 and headquartered in California, USA, is a venture capital and private equity firm. The company primarily invests in the media, business, infrastructure, energy, and logistics sectors, providing financial support and strategic guidance to enterprises.

Triple Point Capital, founded in 1987 and headquartered in California, USA, is a venture capital firm. The company primarily provides equipment leasing and loan services to support the development of startups. Triple Point Capital’s leased equipment includes computers, telecommunications equipment, laboratory equipment, electronic test and measurement equipment, and more.

(Compiled by Xu Xiaoxue)