Nurx, the five-year-old company who is mainly known for its on-demand birth control delivery, has now secured an additional $22.5 Million in funding.
Solving a Personal Issue
What all started as a personal need of relief to Norwegian doctor Edvard Engesæth, became the start of Nurx.
Engesæth had constantly experienced that friends and acquaintances approached him when they needed refills on their birth control pills, something which in the United States can be demanding.
"In Norway, it is not difficult to get contraception, but this is not the case here in the USA. If you do not have insurance or the opportunity to go to the doctor, you risk not getting contraception, and in the worst case, an unwanted pregnancy," Engesæth told VG when the newspaper visited them in their office in Silicon Valley back in 2016.
"To improve the health care system, we believe one must tear down old structures and rebuild things," Engesæth added.
The new $22.5 million investment is an extension on the company’s previous $32 million round and according to CEO Varsha Rao, the additional millions will take the company to profitability by 2021.
Expanding Into New Market Areas
While birth control and contraception are still Nurx's largest business areas, the company is growing its range of services. Here among testing for sexually transmitted infections including HPV and herpes and a new treatment area for migraines.
COVID-19 Home Test
In a short time, Nurx has become one of the hottest companies in American health technology. According to Engesæth, Nurx was the first to do home testing, a method that he believes is crucial for gaining control of the world pandemic situation.
The home test was developed by Nurx's partner, Molecular Testing Labs, in a laboratory approved according to official US standards.
In March 2020 the first home testing kits where available and the test kits are sent out overnight, but it still took 48 hours to get an answer to the test. The test sold out within the first 30 min.
However, no large profit was made of the home testing kits. The tests cost between 150 and 200 dollars, which according to Nurx exactly covers the production, tests and follow-up.
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