# Propel Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/propel-network

- Industry: Pharmaceuticals
- Headquarters: San Francisco, US
- Website: www.nurx.com
- Total disclosed funding: $96M
- Latest round: Series C (Aug 11, 2020)
- Investors on record: 11

## About

Propel Network, LLC, through its platform Nurx™, provides online specialty healthcare services for women, focusing on reproductive health, mental health, and dermatological treatments, enabling accessible and personalized care.Founded in 2015, Propel Network, LLC operates Nurx™, a telehealth platform that specializes in women's healthcare services. The company is headquartered in San Francisco, US. The CEO, Varsha Rao, leads the company, which has completed 7 deals as of August 2020. In this timeframe, the company raised USD 22.5 mn in Series C funding from investors including Comcast Ventures, Kleiner Perkins, Trustbridge Partners, Union Square Ventures, and Wittington Ventures, contributing to a total amount raised of USD 22.5 mn.Nurx™ specializes in providing comprehensive, specialty-level healthcare services tailored specifically for women, delivered entirely online. Their core offerings include a range of reproductive health services such as over 50 types of birth control options, weight management solutions, dermatological treatments for anti-aging and acne, as well as mental health care targeting issues like anxiety and depression. With a user-friendly online platform, patients complete a medical consultation that evaluates their health history and treatment goals, allowing licensed providers to prescribe appropriate medications. This service model is particularly beneficial for women navigating various life phases, making healthcare more accessible and less stigmatized. Nurx operates primarily in the United States, serving a diverse client base that includes over 2 million patients across multiple states.Nurx generates revenue primarily through a subscription-based model for its healthcare services, which includes a monthly or quarterly billing structure for medications and consultations. Clients typically pay for their subscription, which may include an initial consultation fee, a periodic support fee, and a monthly care fee for certain services. The company's offerings encompass a range of flagship products, including various birth control methods and dermatological treatments, which are prescribed following an online consultation. The flexibility of their business model allows for both insured and uninsured patients to access their services, ensuring affordability. Nurx's strategy emphasizes direct-to-consumer transactions, providing patients with medications shipped directly to their homes, thereby streamlining the healthcare delivery process.In August 2020, Propel Network, LLC raised USD 22.5 mn in Series C funding, which is part of a larger USD 74.5 mn funding round that included debt financing. This funding will support the development of new products and services aimed at expanding their healthcare offerings. Additionally, the company plans to explore market expansion into new geographic regions, with specific areas targeted for growth by the end of 2021. These initiatives are aimed at increasing access to their online services and enhancing the overall patient experience.

## Funding rounds

- Series C, Aug 11, 2020, $23M — Kleiner Perkins, Comcast Ventures, Union Square Ventures, Trustbridge Partners, Wittington Ventures
- Series C, Aug 15, 2019, $32M — Kleiner Perkins, Union Square Ventures, Lowercase Capital, TriplePoint Capital, Y Combinator, Dreamers VC, Rhia Ventures
- Series B, Jul 10, 2018, $36M — Kleiner Perkins, Union Square Ventures, Lowercase Capital, Y Combinator
- Series A, Oct 31, 2016, $5.3M — Union Square Ventures, SV Angel, Lowercase Capital
- Seed, Nov 21, 2015, $0.1M — Y Combinator

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series B, Series C
- Union Square Ventures (https://capitalatlas.ai/funds/union-square-ventures) — Series A, Series B, Series C
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Series A
- Lowercase Capital (https://capitalatlas.ai/funds/lowercase-capital) — Series A, Series B, Series C
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series B, Series C
- TriplePoint Capital (https://capitalatlas.ai/funds/triplepoint-capital) — Series C
- Dreamers VC (https://capitalatlas.ai/funds/dreamers-vc) — Series C
- Rhia Ventures (https://capitalatlas.ai/funds/rhia-ventures) — Series C
- Comcast Ventures (https://capitalatlas.ai/funds/comcast-ventures) — Series C
- Trustbridge Partners (https://capitalatlas.ai/funds/trustbridge-partners) — Series C
- Wittington Ventures (https://capitalatlas.ai/funds/wittington-ventures) — Series C