Cambridge, Massachusetts-based ZappRx raised $1 million in a round of funding led by Atlas Venture’s Jean-Francois Formela and Ryan Moore. Other investors that contributed include Life Sciences Angel Network and Hakan Satiroglu. The money will be used for the e-prescription app, set to launch soon.
This is the first public funding raise for the company, which was founded in 2005.
In addition to the funding raise, ZappRx added founding member of Oxford Health Jay Silverstein, Founder and CEO of NaviNet Will Cowen, and Founder of Keas.com George Kassabgi as advisors.
HIPAA-compliant ZappRx is developing an app that pharmacists, physicians and patients use to handle prescriptions. A physician will prescribe a medicine using the app, then the patient receives the prescription on his or her smartphone. From there, the patient can fill, transfer or renew it. While other apps, like Express Scripts also develop e-prescription apps, ZappRx also helps users manage health insurance and payment information.
In March, CVS launched a virtual pharmacy iPad app. In the Pharmacy, users can scan barcodes to refill prescriptions and manage their family’s prescriptions. In the MinuteClinic, users can search for nearby clinics, check whether their insurance is accepted, and see a list of services offered. CVS already offered an iPhone app the helped the user fill, transfer or renew prescriptions at the time of the iPad app launch.
A few months earlier, Walgreens introduced an API for its pharmacy app so software developers can build the company’s prescription scanning and refilling technology into their own apps.