Medicine delivery app company Pharmacierge has raised a further £2.4m to extend its national leadership through its e-prescribing platform mPrescribe.
This investment is an industry first, as 90 per cent of the funding round was raised from Pharmacierge’s own users, including 80 prominent UK clinicians.
The round also includes new and repeat investments from current or former Managing Directors at Goldman Sachs, Citigroup, Merrill/Bank of America and Tullett Prebon.
Pharmacierge co-founder and CEO Edward Ungar said:
“This latest round represents a profound and unique endorsement of Pharmacierge by the very same Consultants and GPs who use it most often.
“They’ve recognised the huge value in our product, and have not only validated that as users, but also as investors.”
Pharmacierge’s clinician-facing app, mPrescribe combines proprietary Electronic Prescription (EPS) and dispensary management (ERP) systems, to handle the compliance and complexity of the industry at scale.
The company operates its own 2,500 sq ft dispensary in Wimpole Street, adjacent to The Royal Society of Medicine.
Due to the variety of specialisms it supports, its formulary contains more than double the average range of pharmacy medicines.
Pharmacierge has now raised nearly £4 million, with over £3 million originating from among its 4,000 clinician users
More than 30 per cent of the clinician investors are women compared to the average 13 per cent of female investors in private companies.
The investment will be used to power the company’s next phase of growth combining dispensing robotics with AI to manage the supply of medicines.
Dr Stephanie Barrett, Consultant Rheumatologist, MB, ChB, MD, FRCP, said:
“Having long experienced the time-saving benefits that the Pharmacierge service offers clinicians and patients, it was a simple decision to invest in a business that I both understood and trusted.”