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After raising $500 million earlier this year — bringing its total funding up to $897 million — Ro, which made its name selling erectile dysfunction and hair loss drugs to men, this month announced it would acquire women-centric brand Modern Fertility for a reported $225 million.

To some observers, Ro’s acquisition of Modern Fertility follows a well-established pattern: Companies founded by men might have an easier time raising capital, even very early in their histories, while companies focused on or founded by women might struggle to scrape together a seed round or secure further financing. Ro and competitor Hims, for example, were both founded by men with a focus on men’s health and raised millions within their first two years with that emphasis, before going on to add health offerings specifically for women.

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