PillPack gets another $31.1 million for mail order pharmacy, medication adherence app

By Jonah Comstock
02:58 pm

Manchester, New Hampshire-based virtual pharmacy PillPack has raised an additional $31.1 million according to a new SEC filing. The company did not disclose any details, but according to Fortune, Astral Capital – a new Boston-based venture firm led by former Accomplice partner Jon Karle – is a new investor and Accomplice, Accel Partners, Charles River Ventures, and Sherpa Capital are returning investors.

PillPack has a lengthy roster of existing investors including Atlas Venture, Menlo Ventures, High Line Venture Partners, QueensBridge Venture Partners, and Founder Collective. This investment brings the company's total funding to date to $93.1 million.

PillPack offers online and by-mail pharmacy services, which once cost the user $20 per month, but are now free (other than the user’s copay). After a doctor eprescribes or faxes in a prescription, PillPack sends a customer all of his or her medications for the next 14 days, prepackaged by dose.

Using web tools, customers can monitor their shipments and add over the counter medications and vitamins to their orders. PillPack will also send the user a message asking if they need to update medications before each shipment so they can make any necessary changes. Users can see how much their meds cost, and how much their insurance contributes. PillPack customers also have 24-7 access to their pharmacist by phone if they have any concerns with their medication. And the service accepts most drug insurance plans, including many Medicare plans.

The company has recently expanded its employee base from 100 to 400 and opened a new office in Salt Lake City, Utah. In July 2015 the company launched its first mobile app for iOS and Apple Watch. The app allows users to import their medication list from the web using just their name, date, and social security number. The app can also create context-aware reminders, which use the phone's GPS and other sensors to honor requests like "remind me to take my pills when I get to work."  And the app records historical data about taken and missed medications that users can refer to later.

“Many apps attempt to provide an all-encompassing healthcare solution but fail to truly improve people’s daily lives,” Elliot Cohen, CTO of PillPack, said in a statement at the time. “The PillPack Medication Reminders app is designed to excel at one thing: helping people remember to take their medications by leveraging the capabilities of the iPhone and Apple Watch, and making reminders fit their lifestyle rather than the other way around.”


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