As the COVID-19 epidemic spread throughout the U.S. previously this year,
Nurx, like most other digital companies of healthcare and prescription services, saw a big spike in demand. Now, with $22.5 million in brand-new funding and a surging yearly run rate that could see the business hit$150 million in income, the company is emerging as the largest digital practice for women’s health.” We saw this significant rise in requirement for our contraception and delicate health services,”says Nurxpresident Varsha Rao. The development hasn’t come without controversy. Only last year, a New york city Times article pointed to corner cutting at the startup, which boasts Chelsea Clinton as an investor and advisor.
Undeterred, Rao said the business has now seen remarkable acceleration in all areas of its company. It’s now supplying care to more than 300,000 patients on a regular monthly basis, boasts that $150 million run rate and has brand-new financiers like Comcast Ventures, Trustbridge and Wittington Ventures– the investment arm of one of the largest pharmacy chains in Canada, Shoppers Drug Mart.
The new $22.5 million is an extension on the company’s previous $32 million round and will take the business to success by 2021, according to Rao.
And while contraception and birth control are still the largest areas of the business’s company, Nurx is growing its range of services, seeing adoption of its screening for sexually sent infections consisting of HPV and herpes and a new treatment area for migraines.
That concentrate on sexual health and what the business calls sensitive health is various from trying to be a medical care provider, says Rao. “Our real focus today is on our core demographic who are females between the ages of 20 and 40 and truly concentrating on their needs,” she states. “That’s why migraines make a great deal of sense. It’s not specifically hormone-related, however it often is … One-in-four ladies experience migraines and they’re mostly from hormone changes … This is a condition we’re well-positioned to attend to.”
Another manner in which Nurx distinguishes itself from competitors like Hims and Ro, which supply females’s health and contraceptive prescriptions too, is through its ability to take insurance.”It’s in fact quite challenging to develop the system to actually use insurance,”says Rao.”And yet, we don’t think you can be a real healthcare company if you don’t accept insurance.” Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.