DiRx, a East Brunswick, N.J.-based online pharmacy, raised a total of $10m in Series A funding.
Similar to its $5m Seed Round raised last year, this Series A round was also a private placement with healthcare-specialized investors including new as well as returning participants.
The company intends to use the funds to continue to power the expansion and national market reach of its pharmacy model.
Led by Satish Srinivasan, Founder and CEO, and Simone Grapini-Goodman, Chief Marketing Officer, DiRx is a digital health company that delivers savings on commonly prescribed, FDA-approved generic medicines through its online pharmacy platform without the need for insurance.
In addition to its direct-to-consumer (DTC) digital platform, DiRx is also gaining significant traction with institutional (B2B) partnerships that would offer similar pharmacy benefit cost advantages to larger groups within the health ecosystem such as self-insured employers, third party administrators, benefit managers and brokers.
The company offers a 12-month price guarantee, protecting consumers from price fluctuations.
FinSMEs
03/01/2021