NowRx

NowRx

Delivering a Better Local Pharmacy

Digital health platform that provides same day pharmacy delivery and telehealth services using proprietary software and roboticsNowRx is redefining healthcare by providing patients with an accessible, convenient, and affordable platform that provides same day pharmacy delivery and telehealth services.Leveraging a comprehensive array of technology including customized robotic dispensing, industry leading consumer and driver apps, and QuickFill – a proprietary pharmacy management and logistics system, NowRx offers customers several key benefits including:Free Same Day Prescription DeliveryOnl...

Security Type
Preferred Stock
Industry
Medical
Min Investment
$998
Location
Mountain View, CA
Offering Date
October 05, 2021
Expected Close Date
January 03, 2022
Amount Raised
$6,149,105

Use of Proceeds

  • R&D/Tech Developement
  • Expansion
  • Marketing and Sales
  • General and Admin

Management

Cary Breese, CEO and Co-founder
Cary has more than 15 years experience in senior leadership and is a multiple time CEO, with expertise in technology, healthcare, and financial services. He is experienced in large Fortune 500 companies as well as small start-up environments. As an analytical thinker who excels at execution, creating organizational focus, and leading teams in a consultative management style, he is a versatile leader skilled in operations, with strong foundations in both engineering and finance. He is an expert in lean startup methodology.

Sumeet Shoekand, CTO and Co-Founder
Technology executive with 19 years of experience. As an entrepreneur at heart, with a record of building solutions from ground up, Sumeet has built teams and led them from vision validation, to product definition, design, and delivery. He has wide-ranging technology and framework experience, and is interested in building businesses that will delight customers.

Deal Perks

  • At stepped investment levels, the company plans to offer investment packages that provide various incentives.
  • Returning Investor Bonus Perk: Investors who previously invested in our prior rounds on SeedInvest and subsequently invest in our current Series C, will have all of their investment amounts combined to determine the applicable tier level. For example: If you previously invested $10K before and you now invest an additional $15K in this round, you will be eligible for the $25K perk.

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Security Description

Preferred securities are a type of investment that generally offers some sort of preferred treatment through a dividend or preferred treatment in a liquidation.

Key Deal Facts

Generated over $13.4M in revenue in 2020, a near 90% YoY increase from 2019; achieved $9.79M in H1 2021 revenue, a 70% YoY increase (2021 figures unaudited, preliminary, and subject to change)
In the last 12 months, the company expanded from two (2) territories to five (5), throughout Northern California, Southern California, and Phoenix, Arizona
More than 35K customers and 365K prescriptions delivered, across five (5) territories and eight (8) micro-fulfillment locations
Recently launched NowRx Telehealth, targeting the $61B global Telehealth market; the company's Quickfill auto coupon saved customers more than $2.8M in 2020
Successfully raised three previous funding rounds on SeedInvest (Seed, Series A, Series B); its last oversubscribed $20M Series B is SeedInvest's largest raise to date

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