PillPack is a digital health company that pre-sorts and packages prescriptions, vitamins and over-the-counter drugs into individual packs and automatically delivers them to customers, with a pharmacy team coordinating orders. Founded in Boston in 2013 following the MIT Hacking Medicine event, the service is positioned to help older adults and caregivers manage multiple medications. The company has expanded nationally, opened a Salt Lake City office and added 100 staff across customer service, engineering and operations for a total of about 400 employees. Financially, PillPack has raised more than $90M in venture capital to date, including a $50M round last year. CEO and co-founder TJ Parker confirmed a recent $30.1M raise in a Form D filing but declined to provide further details on the financing. Competitors or peers mentioned in the article include Capsule Pharmacy and Zipdrug. Led by CEO TJ Parker, PharmD, PillPack is a full-service pharmacy designed to simplify management of multiple medications through personalized service, convenient packaging, and technology. The company ships personalized rolls of pre-sorted prescriptions, vitamins, and OTCs in individual packs and proactively manages refills by coordinating with physicians and insurance providers. PillPack accepts most prescription drug insurance plans, including a majority of Medicare Part D plans. Launched in February 2014, the company has shipped more than 1 million dose packs across 47 states. The company plans to use new funding to accelerate hiring and to build retail pharmacies in U.S. markets. PillPack is based in Boston, MA. PillPack is a full-service pharmacy that dispenses medications into multi-dose packs and proactively manages refills by coordinating with physicians and insurance providers. It provides an online dashboard to control medication lists, track shipments, view billing, and see a calendar of important dates. Customers can also order vitamins and over-the-counter medications from their dashboard. The company holds Verified Internet Pharmacy Practices Sites accreditation through the National Association of Boards of Pharmacy. PillPack is currently present in 40 states. It plans to use the new funding to scale operations and grow its customer base; the articles report it secured $8.75M in the current round, which has raised $12.75M to date. PillPack operates a fully licensed, subscription online pharmacy that ships medications in two-week recyclable rolls of individually labeled dose packs organized by date and time. The service includes proactive refill management with an assigned pharmacist, 24/7 pharmacist support, and a guarantee of on-time delivery. Prescriptions are currently licensed to ship in 31 states while over-the-counter meds and vitamins can be sent to all 50 states. Customers pay $20/month (plus co-pays) for unlimited shipping and the company accepts most major prescription insurance plans and many forms of Medicare Part D. The founders built a backend system to manage orders and pharmacist review as the service scales. PillPack is preparing to expand licensing in the remaining 19 states and has taken on venture financing to support that growth.

Total raised

$93M

Funding rounds

4

Latest round

Equity

Latest activity

Sep 2016