RxWiki secures $5.7M to enable pharmacists to communicate with consumers

RxWiki for iPhone

Austin, Texas-based RxWiki has raised $5.7 million, bringing its total funding to date to at least $7.7 million, according to Austin Business Journal (and brought to our attention by MobiHealthNews). Existing investors include Milestone Partners and LiveOak Venture Partners.

The company has developed a medication encyclopedia that is written and edited by pharmacists as well as tools to help community pharmacists communicate with consumers.

End users rely on the RxWiki app, available on iOS and Android devices, and website to learn about medications, stay up to date with doctor-reviewed articles about health conditions, while the mobile app also allows them to refill prescriptions while on the go. In addition, the site also offers an online forum from where consumers can ask pharmacists questions about medications.

On the other hand, RxWiki also has services for pharmacists, enabling them to communicate with their customers via an email newsletters, and watch RxWiki TV. So far, the company has managed to attract around 3,430 pharmacies and about 8,600 pharmacists, who typically spend around $3,000 per year on RxWiki services.

In August, the company disclosed that its 2014 revenue reached $2.4 million.