NOVEMBER 30, 2022 - MIAMI, FL - RxDefine, a leading healthcare engagement platform for consumers and HCPs, today announced that the company has launched a new visual identity and officially changed its name to Ostro. Ostro’s name change comes on the heels of closing an additional $45 million in funding from Founders Fund, Byers Capital, Caffeinated Capital, Greycroft, Bling Capital, Trust Ventures, and RRE Ventures, bringing Ostro’s total funding to over $55M.
In the three years since its launch, Ostro has evolved from a single product focused on consumer engagement to a platform that addresses the needs of both consumers and HCPs. In conjunction with building out its product suite, Ostro 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, Ostro Attribute, and Ostro Consult.
“This name change and new identity signals an important new chapter for Ostro,” said Chase Feiger, MD, CEO of Ostro. “In a very short time, we have gone from an idea and a vision to a Series B organization serving numerous brands across top 10, mid-size, and smaller life sciences organizations with multiple use cases across more than 10 specialties including neurology, cardiovascular disease, pulmonology, infectious disease, and women’s health. An expansive platform deserves an expansive name - and that is how Ostro came to be.”
In 2022, Ostro increased its overall employee base by 50% and grew its annual revenue by over 250%.
“2022 was a banner year for Ostro,” said Feiger. “And we look forward to even more in 2023.”
Ostro was founded to help millions of people live healthier lives by creating personalized healthcare journeys that boost engagement for consumers and HCPs, and drive value for life sciences brands. The Ostro platform is 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. For more information about Ostro, visit www.ostrohealth.com.
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