Birmingham health tech company HealNow has completed a $5.5 million seed round.
The round was led by Bonfire Ventures. Additional investors participating in the round include Walkabout Ventures, Remarkable Ventures, Alabama Futures Fund, Impulsum Ventures and a number of fintech and health care investors.
HealNow offers technology to provide an online checkout experience for pharmacy patients. Leveraging payments technology, patients can schedule delivery or curbside pickup, purchase over-the-counter items and pay for their prescriptions online.
"Pharmacies are vital to the health care system in this country, yet they face a massive technological disparity," CEO Halston Prox said in a recent release. "Today, only the largest pharmacy chains have established an online presence, while the majority of the industry remains predominantly offline. This gap has placed pharmacies at a substantial competitive disadvantage, as they lack the resources and economies of scale enjoyed by larger players such as CVS. Our mission at HealNow is to level the playing field, enabling any pharmacy to provide a seamless online checkout experience for their customers."
In 2020, the BBJ reported that the previously New York City-based company would relocate to Birmingham after securing an investment from AFF. AFF was the lead investor in the round, with participation from the SoftBank Opportunity Fund. According to TechCrunch, the total value of the raise was $1.3 million.
According to public records, the company's current address is 1721 Third Ave. N. Suite 201.
Today, hundreds of pharmacies across the country use HealNow, and the company is also unveiling a number of partnerships with health care organizations, including Omnicell, NCPA and APC. The platform also built integrations with pharmacy management systems, including PioneerRx, Liberty, Keycentrix and others.
"HealNow is leading the charge on democratizing pharmacy technology. It's that simple," said Mark Mullen of Bonfire Ventures. "Not only do they offer a differentiated product, its leadership has the industry experience to serve the unique needs of pharmacies. In the next few years, we see HealNow becoming the de facto checkout solution for the pharmacy industry. We are excited to play a role in their continued growth and innovation."
