Venture funding $50M for PillPack
The amount of 50 million dollars in venture funding was raised from PillPack Inc., in an effort to expand its e-commerce pharmacy business across the States. At the same time, the company is planning to turn it into a brick-and-mortar business.
The funding round was led by Charles River Ventures and had the participation from Menlo Ventures, Sherpa Ventures, Accel Partners and Atlas Venture. PillPack’s differentiator factor is mainly the way it packages its orders. The startup fills prescriptions, presorting pills into individual packets that are shipped on a tape-dispenser like roll, to customers every two weeks. The packets help customers take all their medicines at the right intervals without having to wrangle several different bottles or read finely printed instructions, for example.