NowRX Tops $20 Million on SeedInvest

NowRX, a pharmaceutical delivery service and digital health platform, has now topped $20 million on SeedInvest – making it the biggest raise on the securities crowdfunding platform to date.

As has been previously reported, NowRX is offering preferred equity at a pre-money valuation of $275 million. As of today, 6848 investors have committed to this round on SeedInvest.

The Series C round aims to raise up to $73.4 million.

NowRX is like the uber of prescriptions providing free same-day pharmacy delivery plus expedited 1 hour delivery for a $5 surcharge.

The drugs are delivered via a “DEA licensed micro fulfillment centers” that leverage in house technology and automated, robotic dispensing.

Another business line is a telehealth service provided digitally through the NowRx Telehealth app with assistance from the NowRx partner doctor network.

NowRx generates its revenue via insurance reimbursement, patient copays, or “cash pay”. This revenue model similar to what is currently in use at many of the largest hospital and pharmacy groups.

NowRx currently has 8 facilities across Northern California, Southern California, and Arizona, and reports that it has delivered more than 365,000 prescriptions to 35,000+ customers. The plan is to go nationwide and NowRX says it is currently sizing up 30 regions across the US.

The securities offering is expected to be available for about two more weeks unless it extends it. SeedInvest claims this is the largest securities crowdfunding campaign in the US but there has been at least one Reg A+ offering that has hit the $75 million cap – but still, a

NowRx is now expanding nationwide, targeting 30 new territories across the US.


Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!



Sponsored Links by DQ Promote

 

 

Send this to a friend