This week’s (so far) Big Raise is virtual pharmacy Capsule. Their new funding of $300 million, added to a previous $270 million in five rounds through a 2019 Series C (Crunchbase), now, according to CEO Eric Kinariwala, puts his company into $1 bn unicorn territory. Founded in New York City in 2015, Capsule now covers the NY metro plus a dozen markets in same-day delivery plus the option for pharmacist chat/text via mobile phone. Their goal is to reach 100 million people nationally by the end of this year. The fresh funding will be used for expansion and to upgrade technology. Durable Capital Partners led the funding round and was joined by new investors Baillie Gifford, T Rowe Price, and Whale Rock.
Capsule is in a hot niche sector of fast prescription delivery that has players large (CVS, Walgreens’ AllianceRx), Amazon (PillPack, Amazon Pharmacy), and smaller or local services like Blink Health, FetchMyRx, Medly, and your local pharmacy. Uber is also partnering with some for delivery. Earlier this year, Capsule partnered with Ginger to fill and deliver medications prescribed by their board-certified psychiatrists in metro New York City, Chicago, Minneapolis, Boston, and Austin. FierceHealthcare, Mobihealthnews, Bloomberg (may be paywalled)
Mobihealthnews also rounded up three additional digital health fundings from the seed to Series C range:
- Surgery data/AI plus virtual consult platform Caresyntax, closed a $100 million Series C funding round led by PFM Health Sciences LP. Release.
- NYC-area direct-pay healthcare marketplace Sesame Care added a $24 million Series B, for a total of $47.6 million to date (Crunchbase). Sesame offers in-person and telehealth care to patients, allowing them to compare prices and providers before booking and paying the provider directly.
- UCM Digital Health, a provider of emergency telemedicine and virtual health, announced today it closed a $5.5 million Series A funding round. Armory Square Ventures led the round with additional participation from Contour Ventures and River Park Ventures. Based in Troy, NY, UCM has a “digital front door” platform with a 24/7 telehealth treat, triage and navigation service marketed to employers, insurers, and providers. Release
- Last but certainly not least, MD Ally added a modest $3.5 million in a seed round led by General Catalyst with participation from Seae Ventures. MD Ally triages 911 emergency services calls, rerouting non-emergency calls to telehealth services and expanding their scope of services. It integrates into existing dispatch systems with a unique range of codes that confirm for the dispatcher that the call can be safely routed to a telehealth provider. TechCrunch, release
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