Total amount raised
$115.9 Millions
Latest funding date
08/01/2020
Location
Nurx has successfully raised significant funding over multiple rounds, with its last Series C round closing on August 11, 2020. The company is backed by 20 investors, including notable names like Wittington Ventures and Comcast Ventures.
Nurx offers a wide range of healthcare services online, from birth control to mental health care, emphasizing convenience and affordability. Keep reading to explore the intricacies of Nurx's fundraising journey and the investors backing this innovative platform.
What Is Nurx?
Nurx, founded in 2015 by Edvard Engesæth and Hans Gangeskar, is a digital healthcare company based in San Francisco, California. The company operates in the health care, medical, personal health, wellness, and women's health industries.
With an employee count ranging from 501 to 1000, Nurx offers a variety of services, including reproductive health, at-home testing, dermatology, and migraine care. The company emphasizes transparent pricing and judgment-free care, aiming to empower individuals to make informed healthcare decisions.
How Much Funding Has Nurx Raised?
- Pre-Seed Round
- Amount Raised: $120K
- Date: March 2016
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial service offerings.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial user base.
- Series A
- Amount Raised: $5.3M
- Date: November 2016
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance service offerings.
- Series B
- Amount Raised: $36M
- Date: July 2018
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and invest in new healthcare services.
- Series B
- Amount Raised: Not publicly disclosed
- Date: December 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and improving service delivery.
- Debt Financing
- Amount Raised: $20M
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide financial flexibility and support ongoing operations.
- Series C
- Amount Raised: $32M
- Date: August 2019
- Lead Investors: Kleiner Perkins, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and enhance the platform's capabilities.
- Series C Extension
- Amount Raised: $22.5M
- Date: August 2020
- Lead Investors: Comcast Ventures, Trustbridge Partners, Wittington Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand care offerings, particularly into migraine and headache treatment, and to build out the team.
Total Amount Raised: $115.8M. Current Valuation: Not publicly disclosed.
Key Investors
- Comcast Ventures
- Details: Comcast Ventures is the venture capital affiliate of Comcast Corporation, focusing on early to growth-stage companies. They leverage Comcast's resources and expertise to help their portfolio companies grow.
- Investment Focus Areas: Media, entertainment, technology.
- Notable Investments: Nextdoor, FanDuel, Houzz.
- Trustbridge Partners
- Details: Trustbridge Partners is a private equity firm that focuses on growth-stage companies. They invest in various sectors, including healthcare, technology, and consumer services.
- Investment Focus Areas: Healthcare, technology, consumer services.
- Notable Investments: WeDoctor, VIPKid, Tujia.
- Wittington Ventures
- Details: Wittington Ventures is a venture capital firm that invests in early-stage technology companies. They have a particular interest in the healthcare and consumer sectors.
- Investment Focus Areas: Healthcare, consumer sectors, technology.
- Notable Investments: League, Ritual, Drop.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm that invests in early-stage to growth-stage companies. They are known for their investments in technology, healthcare, and life sciences.
- Investment Focus Areas: Technology, healthcare, life sciences.
- Notable Investments: Google, Amazon, Genentech.
- Union Square Ventures
- Details: Union Square Ventures is a venture capital firm that focuses on early-stage investments. They primarily invest in internet and mobile sectors.
- Investment Focus Areas: Internet, mobile sectors.
- Notable Investments: Twitter, Etsy, Coinbase.
What's Next for Nurx?
Nurx is poised to capitalize on the growing demand for telehealth services, particularly in sensitive health areas like migraine and headache treatment. With a 75% increase in new patient requests for birth control and serving over 300,000 patients monthly, the company is well-positioned to expand its service offerings and patient base.
Future fundraising opportunities appear promising as Nurx continues to grow and approach profitability. The company has already raised significant capital and may attract further investment to support its expansion. However, challenges such as competition from other telehealth providers and navigating regulatory landscapes could pose hurdles along the way.
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