A New York-based digital pharmacy said it's expanding into the Chicago market.
Capsule said it's starting to deliver prescriptions to Cook and DuPage Counties from its South Loop-based pharmacy.
The New York company raised $200 million last year with money that the company said would be used to expand its services around the country.
Capsule currently operates in New York and Minneapolis.
So far Capsule said it has raised $270 million from investors, including Thrive Capital, TCV, Richard Branson’s Virgin Group, and Ashton Kutcher’s Sound Ventures.
“When we launched Capsule five years ago, we set out to build a pharmacy that works for everyone, offering a seamless user experience for doctors and customers," said Eric Kinariwala, founder and CEO of Capsule, in a statement. "Now as the country confronts this unprecedented crisis, our mission is more important than ever before."
Kinariwala's debut of the company was profiled by the New York Business Journal in 2016, when he said "the pharmacy is a calcified, broken and massive system supported by outdated technology."
"We've learned that fixing the pharmacy is an almost impossible problem," Kinariwala said at the time. "You have to scrap everything and build it from scratch, which is no easy feat. ... We ultimately discovered how disconnected the pharmacy has become from the rest of the healthcare system and decided that the only way to fix any of these problems were to rebuild the pharmacy from the inside out."
He co-founded Capsule with Sonia Patel.
Capsule said it employs 700 people at its New York headquarters, and it plans to expand into all major U.S. cities within the next 18 to 36 months.
This story was originally published on the Chicago Business Journal
