Ro Funding Round Brings Health Startup’s Valuation to $7 Billion

Telehealth startup Ro said its valuation has risen to $7 billion with the addition of $150 million in funds that the company, best known for selling erectile dysfunction drugs to millennials, will use to bridge online and in-person care.

The round was led by existing investor ShawSpring Partners, along with participation from others like General Catalyst, FirstMark Capital and TQ Ventures, Ro said in an emailed statement. The company said investors offered the funds to take advantage of momentum created by the pandemic.

Covid-19 has been a boon for companies like Ro, with more patients seeking virtual care from the ...