Pharmacy Startups On-Demand: NowRx Raises $7 Million Series A Round Through Crowdfunding
NowRx, on-demand pharmacy startups raises $7 million through crowdfunding. The company had previously raised a $3 million seed round. As the on-demand industry flourished and NowRx co-founder Cary Breese surrounded himself with people from the pharmacy industry, startups owners have the view that they can work using the latest technologies including on-demand platforms.
NowRx launched in 2016, is a complete on-demand pharmacy solution. Since its launch, NowRx has delivered more than 50,000 prescriptions from 1,900 doctors. With 8,500 customers, NowRx earns about $5 million a year revenue annually.
NowRx, which is licensed to fill prescriptions in California and certified via the Sure Scripts pharmacy management software, enables doctors to electronically fill prescriptions for on-demand delivery in the San Francisco Bay Area. Patients can then either request free same-day or one-hour delivery for $5.
With the additional funding, NowRx plans to expand outside of California late next year to early 2020. To do that, it will need to open new warehouses and pharmacy facilities. The best businesses and startups accomplish the plan and achieve success when something in its industry isn’t quite working using the on-demand pharmacy startups.
When problems go unaddressed, chances for new, disruptive solutions appear. In healthcare, the deadfalls of physical pharmacies have created a wide-open space that several online pharmacy startups are eager to fill. Now, on-demand healthcare services are available that meet the needs of patients and boost healthcare services delivery either at the hospital or through telemedicine or by providing services at their doorsteps.
The difficulty with physical pharmacies is well-documented, and on-demand pharmacy startups are addressing these problems that include long wait times, rude staff, out-of-stock medicines, and poor communication.
The primary objective of online pharmacy startups is to streamline and analyze the refill process, helping patients taking their medicine consistently and correctly. Some of these enterprises are cutting out the middleman, while others depend on a workforce with local pharmacies to bring efficiency.
Here are five successful new pharmacy startups to watch out for:
PillPack is a leading, well-funded newly established business in this field. This online full-service pharmacy provides daily medications so that patients can take their pills all at once, always get their drugs on time, and have a clean record of adherence.
Capsule the NYC-based startup, uses a software-based approach to deal with prescriptions. Patients can use on-demand pharmacy app to chat with pharmacists, schedule deliveries, and find out the price of medications before they are filled.
3. Round Health
Round Health uses the IoT method to drug adherence. It helps patients in a more innovative way.
Zipdrug, the NY-based pharmacy startup, is an app that allows payments and dispatches a messenger to pick up and provide their medications for a $10 fee. The service promises to provide medicine within 30 minutes or one hour and works with your pharmacy.
5. Robin Health
Robin Health has a unique approach in which they use the on-demand platform to manage their business. Instead of tackling the mail order, like PillPack, they aim to provide on-demand access to a network of local pharmacists around-the-clock, and like Zipdrug, guarantees delivery within an hour.
All of these startups prove that there is a high demand for new, more efficient and cost-effective models that help people receive their medicine on time and take it regularly. In the healthcare industry, we can use on-demand pharmacy startups for wellness and save cost.
We provide on-demand pharmacy startups and software for all kinds of businesses. The features can be added to it according to your business demands. If you want on-demand pharmacy startups for your business, contact us today.