US-based medical prescription services provider Truepill completed a $25m series B round yesterday featuring Optum Ventures, the investment vehicle for health services firm Optum.
The round included TI Platform Fund, Initialized Capital and Sound Ventures along with undisclosed other investors, and the company said it has now raised more than $39m since it was founded in 2016.
Truepill has created a software platform that helps fulfil prescriptions more quickly and easily, delivering medication directly to a patient’s home. The cash will go to product development and meeting customer demand.
Umar Afridi, co-founder and CEO of Truepill, said: “The healthcare industry is facing the most rapid period of change in our lifetime. From consumer healthcare startups to established industry leaders, everyone has been forced to rethink patient care and redesign their business around access and convenience.
“While Covid-19 has expedited this reality for many companies, Truepill has been building with a patient-first perspective from day one. We have created an end-to-end solution that enables our partners to deliver truly accessible and streamlined patient care.”
Initialized Capital led the company’s $13.4m series A round in March 2019, investing with Sound Ventures, Tuesday Capital and unnamed others. Its other backers include Amity Ventures, Funders Club, Slow Ventures, NLI Strategic Investment Fund and Joe Montana.
