April 10, 2022
Pharmacy

NowRx

🚨 Investment Opportunity🚨

As a Daily Dropout reader, you are invited to invest in this week's startup, NowRx

Invest in NowRx

Staffing issues, long lines, outdated tech - retail pharmacy could use a serious revamp. This week’s startup is giving the $480B industry the prescription it needs.

⚾ The Elevator Pitch

Think US health care, and the word “broken” comes to mind. Inconvenient, expensive, and overall just an unpleasant experience - especially in the pharmacy where filling prescriptions can sometimes feel like getting teeth pulled.

NowRx solves this by leveraging proprietary technology to provide pharmacy the way it should be - reliable, affordable, and convenient. The company’s award-winning “QuickFill” system automates prescription processing and dispensing in under 30 seconds – all while dramatically reducing costs and common pharmacy errors.

Best of all, unlike mail pharmacies, NowRx is local and uses its own HIPAA-certified employees to deliver medications which means no unexpected delays at the post office.

All of that equals a fast, convenient, hassle-free experience for customers.

The AlleyWatch Startup Daily Funding Report: 12/14/2021 - AlleyWatch

👇 The Drop Down

Site: https://nowrx.com/
Founded: 2015
Stage: Actively Raising  Series C - Invest Today
Tech trend: On-Demand Healthcare & Robotics
Traction: $26M in annualized revenue, 81% CAGR since 2016, 8 locations with 3 more announced for 2022, 2021 Surescripts White Coat Award Winner, $20M Series B sold out on SeedInvest, $13.5M already raised from 4,200 in Series C, featured in major publications like CNET, Entrepreneur, Benzinga, and CNBC.

Team - Successful Entrepreneurs, Investors, and Medical Professionals
Cary Breese (CEO) | Summet Sheokand (CTO) | Melissa Bostock (DOP)

🔍 Why we like it

  1. 🤖 Bringing Modern Technology to an Antiquated Industry
    NowRx’s award winning QuickFill system replaces manual processes and inefficient operations inside the pharmacy, which means less errors, better service, and ultimately a better overall customer experience. In addition, a single NowRx can service the same geographic area as 20 CVS and Walgreens for a fraction of the cost providing significant cost savings.
  2. 🚀 Massive TAM and Proven Growth
    The retail pharmacy industry is worth a staggering $480B and with over $26M in annualized revenue as of December, NowRx is proving itself in a market that offers plenty of room for additional growth! With 8 locations and several more already announced for 2022, you have to like the company’s potential. Furthermore, NowRx recently entered the $61B+ telehealth market with their new Telehealth offering which grew over 1,200% from Q1 to Q4 providing an additional revenue stream in another enormous market.
  1. 🔥 Raving Customers
    Perhaps the most impressive thing about NowRx is the pack of raving fans the company has developed. The tech-powered pharmacy holds an incredible 5.0 rating on Yelp at every single location and a 91 NPS from physician staff that have used the service with 97% saying they are “extremely” or “very likely” to use NowRx again. Add in 14,000+ investors and NowRx already has traction in every new city they launch.

🚀 You’ve read about them, but are you ready to invest?

NowRx is raising a Series C round that you can join in on. They will be using funds to further fuel their growth and launch new pharmacy territories nationwide. Learn more about NowRx here.

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