- Nimble — a pharmacy on-demand delivery company — recently announced that it raised $150 million in annual run rate
Nimble recently unveiled itself as the first service that is focused on empowering independent pharmacies to offer convenient and on-demand delivery. And the NimbleRx online and in-app platform provides pharmacy customers with a simplified fulfillment and delivery solution from these local businesses.
Currently, NimbleRx is working with 600 pharmacies around the country including chain, independent, and specialty pharmacies. And the company has just hit a $150 million in annual run-rate revenue.
Nimble used to operate a direct-to-consumer pharmacy model through its own distribution centers but decided to change course upon identifying the massive market opportunity to help bring independent pharmacies into the digital and mobile economy. And Nimble partners with the independent, local and regional pharmacies that make up half of more than 60,000 pharmacies nationwide. These businesses are working to keep up with consumer expectations and match the speed and convenience that is offered by the on-demand economy.
To fix this gap in the market, Nimble launched its on-demand and same-day prescription delivery service in early 2019. And the company enables local and independent pharmacies to quickly enter the mobile economy and offer a reliable service without having to build their own technology.
“The rise of the on-demand economy has placed a large burden on local and regional pharmacies. They lack the infrastructure needed to offer the same integrated delivery service available from larger retailers,” said Nimble founder and CEO Talha Sattar. “In less than a year, Nimble has begun to transform the pharmaceutical industry by bringing this capability to pharmacies across the country and giving millions of customers who shop at these locations access to prescription delivery.”
So far, those businesses that have worked with Nimble have improved their patient satisfaction to an average Net Promoter Score (NPS) of 75 as well as growing their margins through increased purchase frequency. And for consumers, Nimble simplifies the pharmacy experience and creates easy delivery options through a mobile app or text experience. Plus the service provides a web-based platform for scheduling on-demand prescription delivery.
“We realized our long term sustainability was tied to being able to meet the evolving needs of customers who demand convenience,” added Raj Jhala, the Pharmacist in Charge at Saint Peters Community Pharmacy in Saint Peters, MO. “Since partnering with Nimble, nearly 50 percent of our customers have converted to using it for their prescriptions. Having a delivery platform has drastically improved not only the quality of our customer service but our business overall. We believe this puts us ahead of our larger national chain competitors and they will have to play catchup to meet our capabilities and customer focus.”
Within a year, Nimble built a wide-reaching network of pharmacies that reaches more than 100 million consumers across the US. And the company’s sample partners include Bartell Drugs in Seattle, WA and Parkside Compounding Pharmacy in Sacramento, CA.
“If you’re looking to increase your efficiency as well as patient satisfaction, Nimble’s solution will be transformative,” explained John Ortego, the Owner of Parkside Compounding Pharmacy in Sacramento, CA. “We’re offering a service that no other business in the area does at this time and on-demand delivery puts us in front of the competition.”
Nimble has raised $60 million in funding since the company was founded. And its investors include Sequoia Capital, Y Combinator, First Round Capital, DAG Ventures, and Khosla Ventures.
