Sun Life invests in Pillway

Sun Life Financial is announcing a minority investment of $9.5 million in online pharmacy startup Pillway, with an opportunity to invest up to an additional $1.5 million.

In June 2023, Sun Life launched the Lumino Health Pharmacy app, with the technology platform and pharmacy services provided by Pillway. The service was rolled out to Sun Life Group Benefits Clients in Canada allowing users to connect with a live pharmacist by chat or phone and have their medications delivered.

Pillway was founded in 2017 and disclosed $5 million in funding prior to this round.

“With over 50% of Canadians taking at least one prescription drug a month, access to medications and pharmacy care is critical. For those caring for their loved ones, helping with medication management and adherence is equally as important. As one of the largest private payers of prescription medication in Canada, we know first-hand how important it is that people receive their medication and take it correctly. The team at Pillway has the pharmacy expertise and services to help Canadians, regardless of where they are in their health journey.” – Dave Jones, president, Sun Life Health.