Funding profile · Women’s health telehealth

Nurx

About $113 million of announced venture capital, no Form D of its own, and a merger price that only shows up in the buyer’s filing. Here is what the public record holds.

$113MTotal raised before the merger, company-stated (Oct 2020)
$332MValuation reported just before the merger, PitchBook data via Fast Company
$112.0MStock and warrants sold on the acquirer’s merger Form D, Mar 2022
83Investors who received that stock, same filing

Data as of September 23, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Dec 2015 Launch, then Y Combinator Winter 2016 Not disclosed Y Combinator YC data
Oct to Nov 2016 Series A $5.3M Union Square Ventures, lead Independent
Nov 2018 Series B $36M Kleiner Perkins, lead; Union Square Ventures, Y Combinator, Lowercase Capital Independent
Aug 2019 Series C $52M total: $32M equity, $20M debt Kleiner Perkins Digital Growth Fund and Union Square Ventures, co-leads; Reproductive Health Investors Alliance, Dreamers VC, Lowercase Capital, Y Combinator, Triple Point Capital Release plus reporting
May 2020 Series C extension $22.5M Not named in the reporting reviewed Independent
2020 Venture debt $10M loan Not named; PitchBook data cited by Fast Company Independent
Feb to Mar 2022 Merger into Thirty Madison All stock; terms not disclosed by either party Nurx holders received Thirty Madison stock Form D
Sep 2025 Thirty Madison sold to Remedy Meds Just north of $500M, all stock Remedy Meds, LLC Release plus reporting

What the filings show

Thirty Madison, Inc. · Form D · filed Mar 30, 2022

First sale
Mar 14, 2022
Offered
$111,997,233 equity
Sold
$111,997,233 · nothing remaining
Investors
83 · average about $1.35M
Note on the filing
The amount “represents the issuance of stock pursuant to the Merger Agreement together with the exercise in full of warrants in the aggregate amount of $1,250,132.”
Exemption
Rule 506(b)
Related persons
Steven Craig Gutentag (executive officer, director); Demetrius Michael Karagas, Jason Stoffer, Amy Schulman, Randy Scott, Regina Benjamin and Andrew Weissman (directors)
Filing
SEC EDGAR, CIK 0001707035

Thirty Madison, Inc. · Form D · filed Jun 2, 2021

First sale
May 18, 2021
Offered
$140,999,762 equity
Sold
$140,999,762 · nothing remaining
Investors
26 · average about $5.42M
Note on the filing
$1,000,000 issued on conversion of a previously outstanding SAFE
Related persons
Gutentag, Karagas, Stoffer, Schulman, Scott. No Nurx-linked directors
Filing
SEC EDGAR, CIK 0001707035

Reading the filings

  1. Nurx never filed a Form D.An EDGAR company search for Nurx with form type D returns one issuer, NURX PHARMACEUTICALS, INC., CIK 0001174228, of Irvine, California, unrelated and with its registration revoked. Roughly $113 million of announced private capital left no Regulation D notice under Nurx, Inc. Issuers relying on Section 4(a)(2) file no Form D at all, so the gap does not mean no money moved. It does mean the record of this company’s fundraising is press releases, not filings.
  2. The merger price is in the buyer’s filing.Both companies said terms were undisclosed. Thirty Madison’s Form D, filed sixteen days after a first sale on March 14, 2022, reports $111,997,233 in stock sold and attributes it to the Merger Agreement plus $1,250,132 of warrant exercises. Take the warrants out and about $110.7 million of stock is tied to the transaction. A Form D reports the value of securities as the issuer states it, not a negotiated enterprise value, so treat this as the clearest available figure rather than a price tag.
  3. That figure is close to money in, and far below the last mark.Nurx reported raising $110 million to $113 million. Fast Company, citing PitchBook, put the pre-merger valuation at $332 million; Axios, citing PitchBook in 2025, said $322.5 million. About $110.7 million of stock against a mark near $330 million is roughly a third of it, and roughly what investors had put in.
  4. Eighty-three recipients, about $1.35 million each.$111,997,233 divided by 83 is about $1,349,364. That fits a cap table of venture funds, angels and option holders rolled into stock, not a single buyer.
  5. Two Nurx-linked directors appear on the acquirer’s filing.The June 2021 Thirty Madison Form D lists five related persons. The March 2022 filing lists seven, adding Regina Benjamin, the former US Surgeon General who joined the Nurx board in 2018, and Andrew Weissman, the Union Square Ventures partner who led Nurx’s Series A. Board seats moved with the merger.
  6. The announced totals do not reconcile.The disclosed rounds add to $115.8 million, and that excludes the $10 million loan. The February 2022 merger release said Nurx had raised $110 million; Fierce Healthcare, on the same deal, said $113 million. Debt, equity and bridges are counted differently by different parties, and no filing settles it.

Commercial signals

Signal Detail Source type
Patients 200,000 patients and more than 400,000 women supplied with birth control by Aug 2019; 325,000 a month by Oct 2020; 750,000 across the combined company at the merger. Company-stated
Coverage 13 states mid 2017; 26 states and DC Aug 2019; 33 states and DC by Jan 2022. Company-stated
Profitability Nurx said in Oct 2020 it expected profitability by early 2021. No later confirmation found. Not confirmed
Revenue Thirty Madison projected $300M for 2022 at the merger. In 2025 it was described as a $220M to $225M business. Company-stated
Restructuring 24 laid off May 2022; 10 percent of corporate staff Jul 2022; about 21 more in Jan 2025, with the portfolio narrowed to Nurx and Keeps. Independent
Follow-on M&A Thirty Madison bought The Pill Club’s assets and 100,000 patient files for $32.3M in Jun 2023, out of Chapter 11. Independent
Exit Remedy Meds agreed on Sep 3, 2025 to buy Thirty Madison for just north of $500M, all stock, expected to close in Q4 2025. Release plus reporting

What to watch

  • Confirmation that the Remedy Meds acquisition closed, and any Form D filed around it.
  • Whether Remedy Meds pursues the public offering its chief executive told Axios was possible 12 to 18 months after the deal.
  • Any amended or late Form D that would restate the March 2022 merger consideration.
  • Disclosure of Nurx-level revenue, which has never been published separately from its parent.

The Nurx story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Koko: Shared investor: M Union Square Ventures. A nonprofit that embeds brief mental health support inside the social platforms young people already use, routing those who signal distress toward tested self guided
  • Science Exchange: Shared investor: M Union Square Ventures. A marketplace for ordering experiments that became procurement software for big pharma, and that sourced the laboratories for the largest public test of whether
  • Modern Fertility: Shared investor: Union Square Ventures. A finger prick hormone panel sold to women who were not trying to conceive
  • Daybreak Health: Shared investor: Union Square Ventures. Teletherapy for students in grades K to 12, sold to school districts and billed to health plans

Sources

  1. Public recordForm D, Thirty Madison, Inc., accession 0001231919-22-000019SEC EDGAR · Mar 30, 2022
  2. Public recordForm D, Thirty Madison, Inc., accession 0001231919-21-000053SEC EDGAR · Jun 2, 2021
  3. Public recordEDGAR company search, Nurx, form type DSEC · accessed Sep 23, 2026
  4. IndependentNurx approaches $300M valuationTechCrunch · Aug 15, 2019
  5. IndependentThirty Madison is merging with NurxFast Company · Feb 9, 2022
  6. IndependentThirty Madison narrows business, cuts staffAxios Pro · Jan 10, 2025
  7. IndependentRemedy Meds to acquire Thirty MadisonAxios · Sep 3, 2025
  8. IndependentThirty Madison to merge with NurxFierce Healthcare · Feb 9, 2022
  9. CompanyThirty Madison and Nurx to mergePR Newswire · Feb 9, 2022
  10. CompanyRemedy Meds to Acquire Thirty MadisonPR Newswire · Sep 3, 2025

Compiled from SEC records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in Nurx, Thirty Madison or Remedy Meds. This page is not an offer to sell or a recommendation to buy any security.