Ro raises new capital to grow telehealth, in-home care capabilities

24 March 2021 (Last Updated March 24th, 2021 17:08)

US healthcare technology company Ro has raised $500m in new capital to grow its vertically integrated primary care platform.

Ro raises new capital to grow telehealth, in-home care capabilities
Ro raises $500m in funding to grow its telehealth and in-home care services. Credit: Ceibos.

US healthcare technology company Ro has raised $500m in new capital to grow its vertically integrated primary care platform.

The Series D funding round was led by existing investors General Catalyst, FirstMark Capital and TQ Ventures along with existing investors SignalFire, Torch Capital and BoxGroup.

New investors that took part in the round are Altimeter Capital, Baupost Group, Dragoneer Investment Group, ShawSpring Partners, Radcliff, and 776.

Since 2017, when the company was founded, Ro has raised a total of $876m in funding.

The company intends to use the funds to build new capabilities and strengthen its existing abilities in telehealth services, pharmacy distribution, and in-home care delivery.

In addition, it will work on improving its proprietary EMR (the Ro Collaborative Care Center), and pharmacy distribution network.

Ro co-founder and CEO Zachariah Reitano said: “Ro is the only company to combine a nationwide telemedicine, pharmacy distribution, and in-home care network.

“Through this vertically integrated platform we’re making high-quality care available when and where patients need it, with no insurance required so patients are the ones in control. We’re powering a patient revolution, and we’re just getting started.”

In December 2020, the company acquired Workpath software platform. This deal allowed Ro to integrate virtual and in-home care delivery on its vertically-integrated platform.

The company’s Covid-19 Vaccine Drive programme, which was recently introduced, is currently active in select Yonkers zip codes in New York.

Recently, it has also collaborated with healthcare AI company Gauss to provide the latter’s smartphone-powered, at-home Covid-19 rapid antigen tests on its platform.