Pharmapacks Raises $32.5M in Funding

Pharmapacks, an Islandia, N.Y.-based e-commerce company, raised $32.5m in funding.

The round was led by RB (LSE: RB) with additional investments from McKesson Ventures, Sealed Air (NYSE: SEE) and The Emerson Group.

The company intends to use the funds to grow its 350 person team by 20 percent, scale its current 140,000 square foot warehouse in Islandia, New York, to advance its automated technology and to expand its inventory levels and delivery reach from the U.S. and Canada to Europe, Asia and beyond.

Led by Andrew Vagenas, CEO, Pharmapacks is an e-commerce company with a proprietary technology platform that empowers brands to reach consumers with a logistics, fulfillment, marketing and sales solution. The company sells both direct-to-consumer through online marketplaces including Amazon, Walmart.com, and eBay among others, as well as on Pharmapacks.com.

Pharmapacks has an in-house technology team dedicated to building automated assistance tools, has a partnership with Sealed Air, whose I-PackĀ® system uses laser technology to measure the content of a package then custom fits each box to that size, removing excess air and wasted space.
Now the company’s catalog consists of 28,000 unique items and processes and ships over 30,000 orders per day to all 50 states in the U.S. and Canada.

FinSMEs

12/06/2018

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