Digital pharmacy Truepill scores $142M

Digital well being firm Truepill scored $142 million in Collection D financing from current buyers Initialized Capital and TI Platform Administration.

The corporate stated the brand new funding brings its complete elevate to $256 million and its valuation to $1.6 billion. Truepill introduced a $75 million Collection C in September 2020, just some months after it introduced in $25 million in Collection B funding


Truepill affords companies corresponding to digital well being firms, payers, pharma producers and different healthcare entities companies like telehealth, a digital pharmacy, prescription transport and success, and diagnostics, together with COVID-19 mitigation instruments for employers

“Once we began Truepill in 2016, we got down to revolutionize the affected person expertise from the backend and, within the course of, created the defining platform for digital shopper healthcare,” Umar Afridi, CEO and cofounder of Truepill, stated in an announcement.

“It doesn’t matter what program they’re constructing, our companions can decide the parts they need, tailor an answer to their particular wants and scale up operations as they develop. Our versatile B2B mannequin actually creates limitless prospects for the way forward for shopper well being, and we’re excited to proceed deepening our work throughout the broader healthcare ecosystem.”


The brand new funding will let Truepill concentrate on increasing its attain and companies to a wide range of healthcare firms. It plans to rent new staff in roles together with engineering, enterprise growth and pharmacy.

The corporate additionally goals to open six new pharmacy and OTC success facilities by early subsequent 12 months in California, Illinois, Michigan, North Carolina, Ohio and Pennsylvania. 

“The final 12 months has made it abundantly clear that consumer-friendly well being experiences are a common want — whether or not you’re a healthcare firm modernizing the way you deal with sufferers, an insurance coverage supplier seeking to create higher e-commerce choices or just an employer making an attempt to create a protected work surroundings,” Sid Viswanathan, president and cofounder of Truepill, stated in an announcement.

“Now that Truepill’s infrastructure is firmly in place throughout telehealth, diagnostics and pharmacy, we’re centered on partnering with firms of all shapes, sizes and specialties to construct progressive healthcare applications — whether or not it’s insurance-backed DTC prescriptions, a return-to-office COVID-19 testing platform or past.”


Truepill bought its begin within the pharmacy area, however has since expanded into different areas in digital well being. In June, it launched a digital pharmacy possibility and it introduced a digital main care providing in Might

In March, the corporate revealed a set of COVID-19 diagnostics and digital instruments geared towards employers seeking to deliver their staff again into workplaces, clinics or manufacturing websites.

“It was all the time a part of our playbook to increase from pharmacy and telehealth into diagnostics, as a result of whenever you begin to deal with a few of the continual situations in our nation at this time, whether or not it’s diabetes or ldl cholesterol or hypertension, oftentimes to try this over a digital setting, your physician wants a lab check,” Viswanathan informed MobiHealthNews on the time.

“If I will prescribe ldl cholesterol treatment and I am a health care provider, I must see a lipid panel for a affected person, so for us it … [was] an extension of our core pillars.”

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