Online Pharmacy Ro Is Said to Raise Funds at $5 Billion Value

Online pharmacy and health technology company Ro has raised $500 million in new funding, its chief executive officer told Bloomberg News.

The round values New York-based Ro at $5 billion, according to people familiar with the matter who asked not to be identified because the matter is private.

Ro Chief Executive Officer Zachariah Reitano said the investment round was led by existing investors General Catalyst, FirstMark Capital and TQ Ventures. New investors including Altimeter Capital, Dragoneer Investment Group and 776 also joined the round.

The company and Reitano declined to comment on the valuation.

Ro, officially known ...