Medly Pharmacy is a NYC-based full-service digital pharmacy founded in 2017 by second-generation pharmacy owners Marg and Sahaj Patel. It operates branded physical retail locations that offer free same-day prescription delivery and also accommodate walk-in patients. Customers can schedule delivery windows, consult with pharmacists, and manage prescriptions via the company’s desktop and mobile apps. Medly reported relationships with 15,000 providers, a patient base of 50,000, and has delivered over 500,000 prescriptions to date. The company closed a $100M Series B and intends to use the funds to expand its platform and enter new markets. Medly Pharmacy is a full-service digital pharmacy that delivers patients' prescriptions for free on the same day and exposes lowest-cost copay options within its app. The company emphasizes a humanized digital experience and works directly with doctors to manage drug coverage and refills. Medly operates both a digital service and dedicated brick-and-mortar locations and plans to expand those nationwide. Since launching in 2017, Medly grew employees from zero to 250 and plans to at least double headcount by 2020. Its annualized 2017 revenue grew ten-fold in 2018 and the company projected revenue in the hundreds of millions by 2020. Proceeds from the announced financing are earmarked to fund national expansion and scale operations.

Total raised

$100M

Funding rounds

2

Latest round

Series B

Latest activity

Jul 2020