Total amount raised
$115.9 Million
Latest funding date
08/01/2020
Location
Nurx has successfully raised funding over 8 rounds, with the latest being a Series C round involving investors like Comcast Ventures and Wittington Ventures. The company has attracted a total of 20 investors, including 6 lead investors.
Keep reading to explore the intricacies of Nurx's fundraising journey and the investors backing this innovative healthcare platform.
What Is Nurx?
Nurx is a digital healthcare company based in San Francisco, California, offering a range of services in reproductive health, at-home testing, dermatology, and migraine care. The company operates in various sectors within the healthcare industry, including personal health, wellness, and women's health.
With an employee count ranging from 501 to 1000, Nurx has served over 2 million patients and received 26,000 five-star reviews. The company has been acquired by Thirty Madison and continues to provide accessible and convenient healthcare solutions online.
How Much Funding Has Nurx Raised?
- Pre-Seed Round
- Amount Raised: USD 120,000
- 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 healthcare 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 expand the company's service offerings and reach more patients.
- Series A
- Amount Raised: USD 5,300,000
- Date: November 2016
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance the technology platform.
- Series B (July 2018)
- Amount Raised: USD 36,000,000
- Date: July 2018
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's healthcare services and increase market penetration.
- Series B (December 2017)
- Amount Raised: Not publicly disclosed
- Date: December 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational needs.
- Debt Financing
- Amount Raised: USD 20,000,000
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for expansion and operational expenses.
- Series C (August 2019)
- Amount Raised: USD 32,000,000
- Date: August 2019
- Lead Investors: Kleiner Perkins, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's service offerings and enhance its technology infrastructure.
- Series C (August 2020)
- Amount Raised: USD 22,500,000
- Date: August 2020
- Lead Investors: Comcast Ventures, Trustbridge Partners, Wittington Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into migraine and headache treatment and support rapid patient growth.
Total Amount Raised: USD 115,920,000. Current Valuation: Not publicly disclosed.
Key Investors
- Trustbridge Partners
- Details: Trustbridge Partners is a growth equity firm that invests in high-quality companies across various sectors. They have a strong presence in the healthcare, technology, and consumer services industries.
- Investment Focus Areas: Healthcare, technology, consumer services
- Notable Investments: WeDoctor, VIPKid, Tujia
- Comcast Ventures
- Details: Comcast Ventures is the venture capital affiliate of Comcast Corporation, focusing on investing in innovative companies. They support startups in consumer, enterprise, and frontier technology sectors.
- Investment Focus Areas: Consumer, enterprise, frontier technology
- Notable Investments: Slack, Nextdoor, FanDuel
- Wittington Ventures
- Details: Wittington Ventures is an investment firm that backs early to growth-stage companies. They are known for their investments in healthcare, technology, and consumer products.
- Investment Focus Areas: Healthcare, technology, consumer products
- Notable Investments: Ritual, Clearbanc, Bench
- Kleiner Perkins
- Details: Kleiner Perkins is a renowned venture capital firm that has been investing in early-stage to growth-stage companies for decades. They have a strong focus on 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 invests in early-stage companies. They focus on internet services, mobile, and web-based applications.
- Investment Focus Areas: Internet services, mobile, web-based applications
- 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 a doubling of requests for STI home testing, the company is well-positioned to expand its patient base and service offerings.
Future fundraising opportunities are likely as Nurx continues to grow, attracting investors interested in the booming telehealth market. The company’s rapid patient growth and plans to introduce new services make it an attractive prospect for additional investment rounds.
However, Nurx may face challenges such as competition from other telehealth providers and navigating regulatory landscapes. Ensuring the quality and reliability of at-home health services will be crucial as the company scales its operations.
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