NowRx

Shut Down

The future of pharmacy

Tech-powered pharmacy using robotics and AI for same-day prescription medication delivery.

Founded January 2015Mountain View, CA50-100 (at peak) people$131M raisedFeatured at Series C

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HealthcarePharmacyDeliveryRoboticsAutomationCrowdfundingTelehealth

About

NowRx was a same-day prescription delivery pharmacy that used proprietary automation technology to replace manual pharmacy processes. Founded in 2015 by Cary Breese and Sumeet Sheokand, the company's award-winning QuickFill robotic system allowed a single NowRx location to service the same geographic area as 20 traditional pharmacies at a fraction of the cost. NowRx raised over $131 million almost entirely through equity crowdfunding on SeedInvest, making it one of the largest crowdfunded startups in history. The company expanded to 8 locations across California and Arizona and launched telehealth services that grew over 1,200% from Q1 to Q4 2021. However, NowRx was unable to raise additional capital and conducted a firesale in late 2023, selling its patient files to Alto Pharmacy (California) and Capsule (Arizona). The company is now facing securities class action lawsuits alleging that leadership failed to disclose material adverse facts about NowRx's financial condition during its Series C crowdfunding round.

DailyDropout Take

NowRx was a cautionary tale in crowdfunded startups. The robotic pharmacy delivery company raised $131M almost entirely from retail investors via SeedInvest, making it the platform's largest raise ever. But the capital-intensive model of building physical pharmacy locations couldn't sustain itself, and the company conducted a firesale in late 2023 — leaving thousands of crowdfunding investors with total losses and a class action lawsuit.

Discovery signal: Record-breaking equity crowdfunding raises, proprietary pharmacy automation technology, rapid telehealth expansion

What Makes Them Unique

NowRx's proprietary QuickFill robotic system replaced manual pharmacy processes, enabling a single location to cover the same area as 20 CVS or Walgreens locations at a fraction of the cost. The company pioneered equity crowdfunding as a primary fundraising mechanism.

$131M

Total Raised

Locations (Peak)

1,200% (2021)

Telehealth Growth

Target Markets

Consumer PharmacySame-Day DeliveryTelehealth

Founders

Cary Breese

Co-Founder & CEO

Serial entrepreneur with 15+ years of senior leadership experience across technology, healthcare, and financial services. Previously CEO of multiple startups with a focus on using technology to automate legacy industries.