Truepill Raises $13.4M
Truepill has announced a new B2B pharmacy fulfillment service which powers direct-to-consumer healthcare brands like Hims and Nurx. Truepill is live and operational in all 50 states and Washington DC. In addition, Truepill announced that it has now raised $13.4M in funding following a Series A led by Initialized Capital, with participation from Y Combinator, Sound Ventures, Tuesday Capital and others. This new funding will enable the company to expand its team and fulfillment facilities across the US and enter the UK market. As healthcare undergoes a massive shift towards telemedicine and direct-to-consumer care and treatment, Truepill is the software-powered pharmacy that is enabling this transition.
Truepill’s pharmacy fulfillment service allows healthcare brands to deliver everyday prescription medications directly to their patients nationwide. Truepill customers include fast-growing healthcare brands like Nurx and Hims. Customers rely on Truepill to:
- Enable better end-to-end patient experiences
- Deliver customized and branded packaging solutions for a more authentic patient experience
- Lower the cost of medications for their patients
In recent months, Truepill has:
- Processed and shipped its 1 millionth prescription order since being founded
- Scaled its team to 150 people across multiple locations in the US
- Added Series A funding from Initialized Capital, Y Combinator, Sound Ventures, and Tuesday Capital among others
“Having spent over 13 years in retail pharmacy, I’ve seen first-hand the frustration patients have towards the prescription process and dealing with their daily medication needs. In response, our partners are building an entirely new customer and product experience that makes obtaining a prescription faster, cheaper and more personalized. We are the software-powered pharmacy enabling these new care experiences,” says Umar Afridi, Truepill Co-Founder & CEO. “Our vision is to transform the way pharmacy fulfillment is handled for the healthcare industry.”
“Our customers are changing the way consumers interact with prescription medications by offering delightful new products that make it easy to receive prescription medications – demonstrating a massive shift in the way healthcare is offered. By offering fulfillment, packaging and delivery services for these healthcare pioneers, Truepill is the pharmacy that is powering this important shift,” says Sid Viswanathan, Truepill Co-Founder & President. “As we embark on this next phase of growth for our business, we’re building facilities across the country that can handle 50K-100K orders a day.”
Truepill offers several industry-first benefits for customers including:
- Industry-first APIs – Truepill provides a broad set of APIs that allow its customers to have full programmatic access into its pharmacy. It enables full visibility into the pharmacy operation, driven by APIs and dashboards, for an industry that has traditionally been underserved by software.
- Customized Experience – Truepill provides highly customized packaging solutions that represent each individual customer’s brand.
- Scalability – Truepill’s fulfillment centers across the country are equipped to handle 50,000+ prescription orders a day.
About Truepill
Founded in 2016 by Umar Afridi and Sid Viswanathan, Truepill is a B2B pharmacy fulfillment service. We provide a pharmacy API and fulfillment of medications to 50 states from our own facilities. We work directly with D2C consumer brands (e.g. Hims, Nurx), digital health companies, and other healthcare organizations. We are a team of 150 employees and have raised funding from Initialized Capital, Y Combinator, Slow Ventures, Sound Ventures, Tuesday Capital, Foundation Capital, Index Ventures, Social Capital, Box Group, Joe Montana, and others. Umar Afridi has 13+ years of experience as a pharmacist at big-box retail chains like CVS, Rite Aid, and Fred Meyer. Sid Viswanathan previously co-Founded CardMunch which was acquired by LinkedIn in 2011.
