San Mateo, California-based Truepill has announced several major milestones this past week. The company is launching a new B2B pharmacy fulfillment service that powers direct-to-consumer healthcare brands like Hims and Nurx.
And the company announced it raised $13.4 million in funding following a Series A round of funding led by Initialized Capital. Y Combinator, Sound Ventures, Tuesday Capital and several others also participated in this round. This round of funding will enable the company to expand its team and fulfillment facilities across the U.S. and U.K. Truepill is now live and operational in all 50 states and Washington DC.
Healthcare has been shifting more towards telemedicine and direct-to-consumer care as medical technology is becoming much more sophisticated. And Truepill is very equipped to handle these changes. Truepill’s pharmacy fulfillment service enables healthcare brands to deliver everyday prescription medications directly to their patients nationwide.
Over the last few months, Truepill surpassed its 1 millionth prescription since the company was founded. And Truepill scaled its team to 150 people across multiple locations in the U.S.
Truepill was founded in 2016 by Umar Afridi and Sid Viswanathan. Afridi has more than thirteen years of experience as a pharmacist at big box retail chains such as CVS, Rite Aid, and Fred Meyer. And Viswanathan is known for being the co-founder of CardMunch — which was acquired by LinkedIn in 2011. CardMunch was an app that transcribed information from photos of business cards on smartphones and saved it as contacts.
Photo: Truepill
“Having spent over 13 years in retail pharmacy, I’ve seen first-hand the frustration patients have towards the prescription process and dealing with their daily medication needs. In response, our partners are building an entirely new customer and product experience that makes obtaining a prescription faster, cheaper and more personalized. We are the software-powered pharmacy enabling these new care experiences,” said Afridi (CEO and co-founder) in a statement. “Our vision is to transform the way pharmacy fulfillment is handled for the healthcare industry.”
Some of the benefits that Truepill offers customers include industry-first APIs, a customized experience, and scalability. And customers work with Truepill to enable better end-to-end patient experiences, deliver customized and branded packaging solutions for a more authentic patient experience, and lower the cost of medications for patients.
“Our customers are changing the way consumers interact with prescription medications by offering delightful new products that make it easy to receive prescription medications – demonstrating a massive shift in the way healthcare is offered. By offering fulfillment, packaging and delivery services for these healthcare pioneers, Truepill is the pharmacy that is powering this important shift,” added Viswanathan (co-founder and president). “As we embark on this next phase of growth for our business, we’re building facilities across the country that can handle 50K-100K orders a day.”
