PillPack Raises $50 Million in Funding

I just posted this via my Tech Startup News blog. Check out this blog and more here.

PillPack, the pharmaceutical delivery startup, raised $50 million in their most recent round of funding. With this latest round of funding, PillPack is expected to start going up against other pharmaceutical giants such as Walgreens and RiteAid.

PillPack has experienced significant growth and attention since the startup launched back in 2014. For those unfamiliar with the startup, PillPack was created to help streamline the process of ordering and picking up medications from the pharmacy on a regular basis. With PillPack, customers can have medication delivered directly to their homes. PillPack also organizes and labels the medication with their unique packaging to help customers better track and organize the varieties of medicines they may be taking. This process is guided through coordinating with insurance and physicians as well.

Since launching in 2014, the company has shipped over a million of these packages and is now serving 48 states in the US. The company now plans on adding physical pharmacies to compete with existing drugstores. This move comes as a bit of a surprise since the original service was developed as a delivery service. Even if it is a surprising move, it makes sense. PillPack is not the lone medication delivery service. Heal offers on-demand services from a physician and will follow up a visit by dropping off your medications. Sidecar is another option to deliver medications straight to your door. PillPack CEO TJ Parker hopes their drugstores will bring back a friendly and familiar neighborhood pharmacy experience.

PillPack expects their first physical stores to be up and running by the end of this year. Be sure to check out their website and see if their services are really what you are looking for in a pharmacy.