Truepill scores $75M in Sequence C funding and appears to roll out at-home testing providers

Truepill scores $75M in Series C funding and looks to roll out at-home testing services

Simply two months after closing its Sequence B funding, Truepill, a digital pharmacy that focuses on APIs, telehealth practitioners and pharmacy success providers, introduced a brand new $75 million Sequence C funding spherical. 

The funding, which can assist kick off the corporate’s at-home lab testing efforts, was led by Oak HC/FT with participation from Optum Ventures, TI Platform Administration, Sound Ventures and YCombinator.

WHAT THEY DO

The corporate works with digital well being manufacturers, pharma producers and well being plans, to attach sufferers to telehealth and digital pharmacy providers. Its purchasers embrace Nurx, Hims and GoodRx. 

It has an API related healthcare infrastructure that may assist with affected person onboarding, telehealth connections, and filling and delivering prescriptions.

Its telehealth platform can join with a consumer’s sufferers through asynchronous video or in-person visits and has its personal EHR. 

WHAT IT’S FOR 

The corporate plans to make use of the funds to roll out a brand new at-home lab testing. The concept is that the corporate will mix testing, telehealth providers and digital pharmacies. It is planning to staff up with third-party suppliers.

The main target can be totally on persistent situations, together with diabetes, coronary heart illness, persistent kidney illness and others.

 “By including diagnostics to our suite of options, we’ll be capable to ship direct-to-patient healthcare at scale via one platform – Truepill. We envision a future the place 80% of healthcare is digital. With diagnostics, telehealth and pharmacy constructed on our basis of API-connected infrastructure, Truepill will energy that actuality,” Truepill cofounder and president.

THE LARGER TREND 

Testing is changing into only one extra aspect of the digital well being house. Wholesome.io, an Israeli firm which made a reputation for itself in urinalysis, scored $60 million in Sequence C funding final yr. Since then, it has acquired its competitor Inui Well being. Scanwell, one other firm within the house testing house, not too long ago scored $3.5 million in funding. 

A few of the established home-testing corporations like Everlywell and Nurx had been seeking to get into the COVID-19 testing house. Whereas the FDA loosened laws for COVID-19 testing, house testing was not exempt from going via the FDA’s EUA course of. Everlywell did acquire FDA clearance ultimately, however Nurx seems to have stopped its efforts.



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