Ostro Raises Additional $45M in Funding

Ostro (FKA RxDefine), a Miami, FL-based healthcare engagement platform provider, raised an additional $45m in funding.

Backers included Founders Fund, Byers Capital, Caffeinated Capital, Greycroft, Bling Capital, Trust Ventures, and RRE Ventures.

The company, which has raised over $55m in total funding, intends to use the funds to expand operations and its business reach.

Led by Chase Feiger, MD, CEO, Ostro is a healthcare engagement platform for consumers and HCPs. In conjunction with building out its product suite, the company has also grown its target market from a use case focused on pharmaceuticals to one that can be applied to pharmaceuticals, medical devices, digital therapeutics, and diagnostics. In conjunction with changing the company name, Ostro is also renaming its product suite, which is now composed of:

  • Ostro Navigate, a 1:1 experience that offers consumers and HCPs a personalized journey to help address their needs; 
  • Ostro Attribute, an analytics product that connects brand marketing campaigns to clinical outcomes to increase the impact of commercial spend; and 
  • Ostro Consult, a telehealth experience that supports the engagement journey by connecting patients to an experienced and qualified clinician.

In 2022, the company increased its overall employee base by 50% and grew its annual revenue by over 250%.