Truepill, a San Mateo, Calif.-based company building patient experiences through its API-connected healthcare infrastructure, closed a $25m Series B funding round.
Backers included TI Platform Fund, Optum Ventures, Initialized Capital, Sound Ventures and others.
The company will use funds to expand adoption of its direct-to-patient healthcare solutions and continue growing its product offerings.
Founded in 2016 by Umar Afridi, Co-founder and CEO, and Sid Viswanathan, Co-founder and President, Truepill leverages a B2B model which builds direct-to-patient experiences across the entire healthcare ecosystem, working with health plans, pharmaceutical manufacturers and consumer health brands alike. A URAC-accredited company, the company provides an API technology, nationwide pharmacy fulfillment and delivery services, a US-based network of licensed telehealth practitioners, white label product design and more.
Truepill’s technologies and services are built to scale with every customer; its pharmacies have the capacity to deliver 100,000 prescriptions per day, and its US-based network of licensed physicians and nurse practitioners can diagnose and prescribe across 50 states.
Customers include: GoodRx, TherapeuticsMD, K Health, hims & hers, Nurx, Simple Health and more.
In addition to growing its B2B business, the company will continue to invest in its portfolio of consumer health brands. Truepill-backed companies include Ahead, a modern mental healthcare startup specializing in adult ADHD treatment, and Eve, a UK-based women’s health company. Its owned and operated pharmacies are located in Hayward, CA, Brooklyn, NY, Redmond, WA, Alhambra, CA, Austin, TX and Manchester, England. Accreditations include URAC accredited mail order pharmacy, URAC accredited specialty pharmacy, NABP, Digital Pharmacy Accreditation and LegitScript.
The company has raised more than $39 million in venture funding from YCombinator, Initialized Capital, Tuesday Capital, Sound Ventures, Amity Ventures, Funder’s Club, Slow Ventures, Joe Montana, TI Platform Fund, NLI Strategic Investment Fund, Optum Ventures and others.
FinSMEs
09/07/2020