PillPack, the pharmacy that simplifies medication management, has secured $8.75 million in a round led by Accel Partners, with participation from Atlas Venture, High Line Venture Partners, QueensBridge Venture Partners, Andy Palmer and David Tisch.
The company will use the money to scale operations and grow their customer base. Also as part of the deal, Accel Partners’ partner Fred Destin will take a director seat on the PillPack board, joining Jon Karlen from Atlas Venture and David Frankel from Founder Collective.
“In the last two years, we have built and launched the first pharmacy dedicated to making customers’ lives easier,” said TJ Parker, PharmD, CEO. “With PillPack, the end-to-end process of managing medications is both simple and understandable. As a result, it’s easy for our customers to take their prescribed medications at the right time, every time.”
PillPack will use the money to scale operations and grow their customer base.Rather than sending medications in individual pill bottles, PillPack dispenses medications into multi-dose, pre-sorted packs that are labeled with the date and time each dose should be taken. The company also manages refills by proactively coordinating with physicians and insurance providers, while offering 24/7 access to its pharmacists.
Additionally, PillPack offers an online dashboard from where users can control medication lists, track shipments, keep tabs on billing, and see a calendar of important dates. Moreover, from here customers can also order vitamins and over-the-counter medications.
The company is currently available in 40 states, and it accepts most prescription drug insurance plans, including a majority of Medicare Part D plans. PillPack has raised $12.75 million dollars to date.