UrgentRX Fast Powders has raised $17.5 million in a Series C growth capital financing round, according to Jordan Eisenberg, the company’s founder and CEO.
A “very private” Denver family office led the round, which closed last Friday, Eisenberg said. He declined to disclose the name of the family office.
Prior investors who also took part in the C round include Chicago investor Sam Zell, David Bonderman of TPG Capital, Randall Kaplan / JUMP Investors and hedge fund Boulevard Capital Management. Including the $17.5 million, UrgentRX so far has collected $27 million. Another $9.5 million came in the company’s first two rounds, he said. Eisenberg said he has a “significant but not majority” stake in UrgentRx.
Proceeds will be used to support additional distribution opportunities, Eisenberg said. But the “biggest use” of the C round will be a major marketing campaign that UrgentRX plans to launch in the second half of this year, he said. The company plans to target TV, print and digital media in a campaign that will support new retailers including CVS and Walgreens. UrgentRX can be found in “pretty much” all the gift shops on the Las Vegas strip, Eisenberg said. “We’re in 21,000 doors today and want to double that number over the next 12 months. And hopefully double it again.”
“We’re definitely gearing up to do big things,” he added.
Denver-based UrgentRX can be found near the cash register of retailers such as Duane Reade. The single dose packets do not need water and claim to act “right now.” UrgentRx products target ailments such as allergy attacks, headaches, aches and pains, heartburn and upset stomach.
Eisenberg founded the company in October 2010. A serial entrepreneur, Eisenberg started two earlier companies. PMS Buddy, an iPhone app that tracks women’s menstrual cycles, was licensed by another group, he said. Eisenberg also launched CollarCard, which provides credit-card sized holders for shirt stays. JUMP Investors acquired CollarCard, he said.
He also worked with Maurice Kanbar, the serial entrepreneur who founded Skyy Vodka and is the inventor of D-Fuzz-It. Eisenberg, who calls himself “super competitive,” said he tried out investment banking, working for Banc of America Securities, right out of college. “I didn’t last six months,” he said. “It was a great learning experience but not for me.”
Photo courtesy of UrgentRx