image credit : Capsule

Online pharmacy startup Capsule based out of New York and now preparing for national expansion has now raised $50 million in additional funding from Glade Brook Capital Partners and Thrive Capital as it takes on a mission to expand its online pharmacy business throughout the U.S. to provide more users with easier methods of getting prescribed drugs through the net.

This funding brings the total raised by Capsule which also counts the Virgin Group and Sound Ventures as investors to over $70 million since its start in 2015 as it aims to be a leader in the growing e-healthcare market which counts other notable leaders like PillPack and GoodRx.

Capsule which bills itself as “A better, smarter, kinder pharmacy,” is aiming for disruption of the roughly $446 Billion U.S. pharma market with the provision of on-demand and same day medication delivery to its users.

Capsule works directly with doctors who prescribe medications through its platform before handling delivery of the stated medications into the patients hands making a very easy process for both parties with the NY based startup further coordinating medication refills with the doctor in addition to co-paying the patient’s insurance company.

As stated by Capsule founder Eric Kinariwala in a recently penned blog post: “Three years ago, we set out with a blank sheet of paper to redesign one of the most archaic experiences and the most frequent interaction in healthcare — the pharmacy. Since then, we have built an extraordinary team of people who work tirelessly to bring to life our core company and brand value: everybody needs some looking after sometimes.”

“We’ve designed every aspect of our product to give our customers and partners the peace of mind of being looked after. Our emotionally resonant customer experience builds trust and loyalty. Our proprietary technology supports the first pharmacy system that works for all of the stakeholders in healthcare — enabling customized outcomes for doctors, hospitals, insurers, and manufacturers. “

The online pharmacy startup is a very promising one with ongoing expansion as of current with several major tech names also making moves into this space. Amazon snapped up PillPack less than 2 months ago for nearly $1 Billion and major global tech focused investor Silver Lake just recently completed an investment into online prescription drug pricing startup GoodRx which reportedly values the firm founded by former Facebook and Yahoo executives at $2.8 Billion.

Capsule was notably founded by former investment manager and angel investor Eric Kinariwala and current Rent the Runway Head of Product Marketing Angie Hellman and has grown its service since its inception to a very good position as of current.

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