Venable advised Nelstone Ventures on its $3.4 million investment in Allermi, a direct-to-consumer telehealth service providing customized multi-ingredient nasal spray for allergy relief. Allermi launched in California in July 2022 with a $1.25M pre-seed round and has been growing rapidly by more than 30% month-over-month. It is currently available across 28 states nationwide. The seed funding will be used to continue national expansion; build and scale business, marketing, and product operations; and enlarge marketing channels to meet the growing demand.
Nelstone Ventures invests and syndicates investment opportunities in various-stage technology companies with a focus on enterprise software, gaming, healthcare, consumer internet, and technology-enabled business-to-business companies. It twice funded Apostrophe, a direct-to-consumer telehealth service providing customized skincare solutions, and helped lead their nine-figure sale to Hims & Hers. Venable represented Apostrophe in the sale.
Alexei J. Cowett led the Venable team. Elizabeth Fuzaylova, Ari J. Markenson, and Todd A. Harrison also advised Nelstone.