Austin-based Digital Pharmacist, a company that offers prescription management apps, has raised $6.5 million in new funding in a round led by Activate Venture Partners and LiveOak Venture Partners. The company, which was formed in January from a merger of RxWiki and Telemanager, has raised $13.7 million to date.
With mobile apps and telecommunication technology, Digital Pharmacist positions itself as a multipronged means of helping pharmacies improve medication adherence and patient engagement. These include automatic prescription refills, refill reminders, medication reminders, access to health news and content, and coupons. Beyond the app, the company also offers services to independent pharmacies, including IVR and digital channels for communicating with patients and mobile apps.
Just three months after its formation, Digital Pharmacist acquired PocketRx, accessing a larger customer base for its app that is branded for the pharmacy client, but includes a standard staple of features designed to compete with large national chains. That acquisition expanded Digital Pharmacist’s footprint to about 6,000 pharmacists around the country, and also gave the app extra features such as the link to MedicinePlus, a web-based pharmaceutical information site for updated information on all medications and an “Ask a Pharmacist” feature.
Chris Loughlin, the company’s CEO, told Xconomy Texas that Digital Pharmacist will use the latest funding to improve software. That could include new features like a risk-detection function for patients who are refilling medications from different physicians and could unwittingly be taking two drugs together that could cause adverse reactions.