PillPack raises $50M to open new pharmacies in the U.S.

PillPack

PillPack has completed a $50 million funding round led by CRV with participation from Accel Partners, Atlas Venture, Menlo Ventures, and Sherpa Ventures. The “pharmacy that simplifies medication management” will use the fresh capital to fuel growth, accelerate the hiring, and build new retail pharmacies across the US.

As part of the deal, George Zachary, partner at CRV, will take a director seat on the PillPack board, joining Fred Destin from Accel Partners, Jon Karlen from Atlas Venture, and David Frankel from Founder Collective.

“In the last two years, we’ve built and launched a better, simpler pharmacy experience that folks absolutely love,” says TJ Parker, PharmD, CEO of PillPack. “With this funding, we’re excited to expand our physical footprint across the country, enabling both increased capacity as well as opportunities for an even more delightful experience for our customers.”

PillPack has shipped more than 1 million dose packs since its launch in February 2014.PillPack simplifies the process of managing multiple medications through a combination of personalized service, convenient packaging, and technology. Those using the service get personalized rolls of pre-sorted prescriptions, vitamins, and OTCs, in individual packs delivered to their door, with PillPack managing refills by proactively coordinating with physicians and insurance providers.

PillPack has shipped more than 1 million dose packs since its launch in February 2014. It is currently available in 47 states, accepting most prescription drug insurance plans, including a majority of Medicare Part D plans.

According to research from the Centers for Disease and Prevention (CDC), 22% of Americans take three or more medications regularly. PillPack has raised $62 million dollars to date.