DENVER, CO, Developer of fast-acting over-the-counter flavored powder medications, today announced that the company has closed an additional $2.5 million in Series B funding.
UrgentRx, developer of fast-acting over-the-counter flavored powder medications, today announced that the company has closed an additional $2.5 million in Series B funding, led by current investors as well as attracting new capital. The additional funding brings the company's total funding to date to more than $7 million.
The round was led by current investors JUMP Investors and Boulevard Capital Partners. New investors in the round include billionaires Sam Zell (Chicago financier and real estate developer), David Bonderman (founder of private equity giant Texas Pacific Group) and Herb Simon (real estate magnate and founder of Simon Properties), along with two-time Academy Award-winning actress Hilary Swank.
Since closing the initial Series B financing six months ago, UrgentRx has expanded its retail presence into more than 2,500 stores nationwide, including Walgreens-owned Duane Reade, as well as several national retail chains. The company anticipates retail expansion to more than 20,000 to 25,000 locations by Q4 2013.
After raising $3 million in mid 2012, the company reopened the round due to accelerated momentum at retail. The additional funds will be primarily used to build inventory, produce innovative point-of-sale merchandising, and fund marketing for the national launch.
"We've had tremendous success working closely with Duane Reade and other retailers to create game-changing merchandising systems that take advantage of unused space, turn heads and entice consumers to reach out and grab our products," said Jordan Eisenberg, president and founder of Denver-based UrgentRx. "This additional funding will allow UrgentRx to accelerate efforts to reach consumers and support our retail partners as we expand into more and more markets."
The company's flagship product, UrgentRx Critical Care Aspirin to Go, was designed specifically to help increase the chance of heart attack survival when taken at the first signs of heart attack symptoms. Since its introduction, UrgentRx Critical Care Aspirin to Go has been credited with helping to save the lives of more than 10 people who took the 325mg dose of UrgentRx aspirin at the first signs of heart attack. Today the company's portfolio of products includes Critical Care Aspirin to Go, Allergy Attack Relief to Go, Headache Relief to Go, Heartburn Relief to Go, Upset Stomach Relief to Go and Ache & Pain Relief to Go. UrgentRx Fast Powders come in a convenient, credit-card-sized package containing a single dose of flavored powder medicine that can be taken without liquid for today's busy, "on-the-go" consumers.
About UrgentRx
UrgentRx is a line of fast-acting, portable OTC medications providing right now relief for today's busy, "on-the-go" consumer. UrgentRx Fast Powders come in an innovative, fast-acting flavored powder format available in convenient, single-dose, credit-card-sized packets for easier portability and accessibility. The flavored powders can be taken without water, providing immediate relief whenever and wherever needed. Initially developed for heart attack victims, UrgentRx currently produces medications for everyday ailments such as allergy attacks, headaches, aches and pains, heartburn, and upset stomach. Based in Denver, Colorado, UrgentRx was founded by entrepreneur Jordan Eisenberg in 2010. For more information, please visit
www.urgentRx.com.
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