One of the biggest insurance companies in Canada is making a new bet on digital pharmacies being the future of healthcare.
What’s happening:
- Toronto based digital pharmacy startup Pillway has raised $9.5M CAD in a Series A financing round
- The entire funding round came from Canadian insurance giant Sun Life
The big idea:
- Pillway has built a technology platform that connects patients with doctors directly in order to enable a more seamless experience to get medications prescribed
- Once a doctor has made a prescription, Pillway will have the medication sorted into organized packets and delivered directly to the patient at their home
Going deeper:
- Pillway and Sun Life previously entered into a partnership to co-develop Lumina Health Pharmacy app, which was made available to anyone with Sun Life insurance
- Lumina Health Pharmacy leverages Pillway’s technology platform to connect patients with a pharmacist in real time and fulfil prescriptions
The intrigue:
- WELL Health Technologies (TSX: WELL) previously was the sole strategic investor in Pillway’s seed round
By the numbers:
- Pillway has raised $14.5M CAD since inception
