MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--NowRx, a tech-powered pharmacy that provides same-day prescription delivery and telehealth services, today announced that its current Series C equity crowdfunding round on SeedInvest, the leading equity crowdfunding platform, has surpassed $22.5M, making it the largest Regulation A investment in SeedInvest history. The round is still open and has an anticipated close date of May 20th.
Since 2016, NowRx has steadily grown revenue from just shy of $700,000 to $22M in 2021. That represents an increase of more than 3,200% in five years. In 2020 alone, its revenue grew 90% compared to 2019 and its current annual revenue run rate, based on March 2022 revenue, is $32.3M. The tech-powered pharmacy has delivered more than 487,000 prescriptions so far to 64,000+ customers from 12 facilities in western states and will expand its reach and capacity as it opens five new facilities this year.
“The JOBS Act democratized fundraising for startups. Thanks to equity crowdfunding, we’ve been able to raise the money we need to expand our business while giving ordinary people the ability to invest in the future of retail pharmacy,” said NowRx CEO Cary Breese.
With the funds raised in this round, NowRx will expand into additional territories and accelerate the technology roadmap for its proprietary pharmacy-management software and logistics technology.
NowRx is a tech-powered pharmacy that uses proprietary software and customized dispensing robotics to provide free same-day prescription delivery and telehealth services. The company’s proprietary “QuickFill” system automates prescription processing and dispensing in under 30 sec – all while minimizing common pharmacy errors and reducing dispensing costs to a fraction of major retail chains. Furthermore, NowRx is local to the areas it services and uses its own HIPAA-certified employees to deliver medications which means no unexpected delays. All of that equals a super convenient, hassle-free pharmacy experience for patients and doctors.
To date, NowRx has 8 DEA licensed micro fulfillment pharmacies spread across the San Francisco Bay Area, Orange County, Los Angeles, and Phoenix with more than 64,000 customers and 487,000 prescriptions successfully delivered. At the time of writing, every single NowRx location boasts a 5-star review rating on Yelp from patients and doctors.
Learn more at www.nowrx.com.
Note to editors: The following disclaimer should be included in any content covering this raise per SEC Regulation regarding Reg A+ Equity Crowdfunding:
DISCLAIMER: NowRx is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from: https://www.seedinvest.com/nowrx or by clicking here.