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NowRx Launches $73 Million Series C Round on Equity Crowdfunding Platform SeedInvest; Funds Will be Used to Expand Same Day Delivery of Prescriptions and Telehealth Services

·2 min read

Digital health platform’s last equity fundraising round was oversubscribed and raised $20 Million; NowRx has since expanded into additional geographies and launched new telehealth services

MOUNTAIN VIEW, Calif., October 07, 2021--(BUSINESS WIRE)--NowRx, a provider of same day prescription delivery and telehealth services, today announced that it is now accepting reservations for its $73 million Series C equity crowdfunding round on SeedInvest, a leading equity crowdfunding platform. NowRx’s previous round, which raised $20M, was oversubscribed and was the largest raise on SeedInvest at that time. Once completed, the Series C round will bring the company’s total funding to more than $100 million. Since opening the Series C round to reservations more than $8 million has already been committed.

NowRx plans to use the funds to expand into additional territories, and accelerate the technology roadmap for its proprietary pharmacy management software and logistics technology. The raise comes on the heels of a record $13.4 million in revenue in 2020 and record pace in the first half of 2021. Over the past 12 months, the company has expanded from two to eight locations, delivering more than 365,000 prescriptions to more than 35,000 customers. It also launched NowRx Telehealth, targeting the $61 billion global telehealth market.

"The current pandemic raised the bar for telehealth services and pharmacy delivery. Patients now expect speed, reliability, convenience and quality," said NowRx CEO Cary Breese. "This crowdfunding round will help us bring our services to new markets while still prioritizing the high quality customer experience that has earned us so many five star reviews."

"It’s been exciting to watch NowRx continue to scale over the last few years and fuel their growth purely through online fundraising," said Ryan Feit, CEO and Co-Founder of SeedInvest. "Their story helps illustrate that equity crowdfunding is not only an option for seed financing, but also for significant growth rounds."

About NowRx

NowRx is redefining healthcare by providing same day pharmacy delivery and telehealth services. By leveraging customized robotic dispensing, industry leading consumer and driver apps, and QuickFill, a proprietary pharmacy management and logistics system, NowRx can offer same day end-to-end services, from online prescribing to prescription delivery. This includes telehealth services to prescribe for several conditions, searches for discount coupons, insurance approval, payment assistance, live customer service, and same day prescription delivery. To date, NowRx has 8 DEA licensed micro fulfillment pharmacies spread across the San Francisco Bay Area, Orange County, Los Angeles, and Phoenix with more than 35K customers and 365K prescriptions successfully delivered to date. Additionally, at the time of writing, every single NowRx location boasts a 5-star review rating on Yelp from patients and doctors.

Learn more at www.nowrx.com.

Note to editors: The following disclaimer should be included in any content covering this raise per SEC Regulation regarding Reg A+ Equity Crowdfunding:

DISCLAIMER: NowRx is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from: https://www.seedinvest.com/nowrx or by clicking here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211007005288/en/

Contacts

Marina Greenwood, Activa PR for NowRx, marina@activapr.com, (415) 999-1128