Commerce

Online pharmacy Truepill raises $25 million to expand into telehealth


Truepill, a digital pharmacy that enables healthcare companies to deliver prescriptions directly to customers’ doors, has raised $25 million in a series B round of funding.

Founded in 2016, Truepill offers a number of services to pharmaceutical manufacturers, health plans, and other health brands, including pharmacy fulfillment that delivers medication to patients’ homes. Its suite of APIs serve up “programmatic” access to its online pharmacy, with brands able to customize the packaging themselves.

Prior to now, Truepill had raised around $37 million, including a $13.4 million tranche last year, and with another $25 million in the bank it’s now well financed to expand into new areas — including telehealth. Indeed, alongside today’s funding announcement, the company launched Truepill Health, which will offer up 9,000 U.S. physicians who can consult with patients through real-time video.

This move makes a great deal of sense for Truepill, and it’s ultimately designed to close the loop in the broader healthcare process where physicians play a leading role.

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“We are now able to provide customers with access to a U.S-based network of licensed providers who can diagnose, treat, and prescribe across 50 states,” Umar Afridi, Truepill cofounder and CEO, told VentureBeat. “In talking to our customers, the need for an integrated telehealth solution was clear. Customers would say, ‘we’re ready for you to fill our prescriptions — now we just need to get our physician network in place.’ The delay could go on for months as they navigated the complexity involved in setting up their network. Truepill Health was a natural evolution for us, combining our flexible pharmacy infrastructure and API-connected technology with a provider network.”

The company also built a electronic medical record (EMR) system specifically with telehealth in mind, to “ensure a seamless experience,” as Afridi puts it.

Above: Truepill telehealth with EMR integrated

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