The company has closed a $5 million Series A round bringing its total funding to $8 million.
The funding round was led by SpringTide, a Boston-based health tech-focused venture capital firm, with the participation of Cardinal Health, a global manufacturer and distributor of medical and laboratory products.
RxLive is an award-winning UK pharmacy that offers free NHS prescription delivery with a completely free service that deliver medication to the users’ door on the same day or within 24-48 hours.
Mark Engelen, RxLive co-founder, said: “This signals innovation and it is coming out of the city. With SpringTide and Cardinal, we’ve had a very defined fundraising strategy.
“We went to the JP Morgan Annual Healthcare conference in January with a plan, and we have been building relationships with healthcare capitalists over the three or four years so we’ve demonstrated that traction of growth.
“And then when the time was right, we formed agreements. It takes a lot of work.”
RxLive provides live chat, private prescriptions and a medicine and treatments shop. Users can chat with pharmacists about medication or about placing an order.
The medicine and treatments shop provide treatments for cold and flu, allergies, erectile dysfunction, morning after pills etc.
RxLive uses British packed medication monitored by the Medicines and Healthcare products Regulatory Agency (MHRA), allowing patients and carers to be in control of their prescriptions.
Looking at the future, RxLive is focusing on building what’s called a population health pharmacy, helping healthcare providers manage their thousands of patients as a global unit.
RxLive chief pharmacy officer and co-founder Kristen Engelen said: “The current pharmacy retail model underserves patients. The way they serve patient is a very volume-based approach to get as many prescriptions filled and out the door as quickly as possible. What that means is there a few opportunities for pharmacists to speak with patients to ensure they’re doing well with their medication.
“Our mission is to deliver meaningful interactions between patients, pharmacists and providers through both our technology and clinical guidance.
“It’s really envisioning what a pharmacist can do for better health outcomes.”
