New capital from world-class investors will accelerate growth and expansion in 2021, delivering clinical pharmacy solutions to drive outcomes-based care
TAMPA, FLA. – January 7, 2021 –Aspen RxHealth, whose first of its kind clinical pharmacy model developed by pharmacists for pharmacists delivers value for health plans and risk-bearing providers, today announced the closure of a $23 million Series B funding round led by Bessemer Venture Partners. Multiple strategic partners participated in this round, including Takeda Digital Ventures, dRx Capital (Novartis’ Digital Venture Fund), and McKesson Ventures. Previous investors Humana and Flare Capital Partners also participated. This funding comes at the conclusion of a transformational year in both healthcare and for the company as a result of the rapid adoption of virtual care models. The cash infusion will help Aspen RxHealth capitalize on the demand for its highly diverse community of pharmacists and poise the company for successful entrance into new markets which present exponential opportunities.
“With a strong bench of investors and strategic partners supporting our vision of developing a new clinical pharmacy services model to deliver tangible value to health plans and risk-bearing providers, we are prepared for our next stage of growth,” said David Medvedeff, CEO, Aspen RxHealth. “This capital will help us deliver on our promise to create a true marketplace for pharmacists, rapidly scale our business at a time when pharmacy is ripe for disruption, and aggressively pursue newer, broader markets such as specialty pharmacy support and medication reconciliation.”
“After years of investing in marketplace businesses, we’ve seen firsthand how reinventing the delivery of products and services in an industry as important as healthcare requires a high degree of sophistication and ingenuity,” stated Steve Kraus, partner at Bessemer Venture Partners. “Aspen RxHealth’s dedication to the development of their groundbreaking model, in tandem with a seasoned, experienced leadership team in the pharmacy space, poises them to revolutionize an industry hungry for change.”
Bessemer Venture Partners has a history of investing in iconic technology companies, such as DocuSign, LinkedIn, Twilio, Shopify, Twitch, and Yelp.
About Aspen RxHealth
Aspen RxHealth is the leader in next-generation clinical pharmacy services, intelligently matching pharmacists with patients based on often overlooked social and clinical factors to enrich the patient-pharmacist experience and drive better outcomes for health plans and other risk-bearing providers. Aspen RxHealth’s community of more than 5,000 pharmacists is the largest in the nation, empowering patients with the information and action plans they need to achieve optimal health outcomes. Learn more at www.aspenrxhealth.com.
About Bessemer Venture Partners
Bessemer Venture Partners is the world’s most experienced early-stage venture capital firm. With a portfolio of more than 200 companies, Bessemer helps visionary entrepreneurs lay strong foundations to create companies that matter, and supports them through every stage of their growth. The firm has backed more than 120 IPOs, including Shopify, Yelp, LinkedIn, Skype, LifeLock, Twilio, SendGrid, DocuSign, Fiverr, Wix, and MindBody. Bessemer’s 16 investing partners operate from offices in Silicon Valley, San Francisco, New York City, Boston, Israel, and India. Follow @BessemerVP and learn more at bvp.com.
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