Photon Health, a New York City-based electronic prescription startup, raised $9m in funding.
The round was co-led by Notation Capital and Flare Capital Partners with participation from Floating Point, GG1, Ritual, Headwater, Scrub Capital, Susa Ventures, BoxGroup, Long Journey, and Cendana, as well as angel investors including the founders of PillPack, Commure, Carbon Health, Quartet, Forward, Summer Health, Hone Health, Candid Health, Healthie, and other digital health veterans.
The company, which has raised a total of $16.4m, intends to use the capital to expand operations and its business reach.
Co-founded in late 2021 by Michael Rado, Sam Kotlove, and Otto Sipe, Photon offers a pharmacy fulfillment platform that offers off-the-shelf prescribing tools, developer-friendly APIs, and order status. It works as explained below:
- Once a prescriber writes a prescription, the patient (or their caregiver) receives a secure Photon link via text message.
- A patient can access their digital prescription in the browser – no mobile app required.
- A patient can select the most convenient option from a list of pharmacies – whether it’s mail order like Amazon, an independent pharmacy, or chain like Walgreens.
- The platform sends a notification when the medication is ready for pickup or when it’s delivered.
If the medication isn’t available at the pharmacy or the pharmacy isn’t open, the team will notify the patient within minutes. If needed, the patient can select a new pharmacy to pick up their medication.
So far, the company has focused on primary care, pediatrics, and obesity care and now supports prescribers at Sesame, Weight Watchers, Blueberry Pediatrics, Measured, Summer Health, Found, Sana Care, Modern Pediatrics, and NormanMD – to name a few.
FinSMEs
19/08/2024