🦄 Unicorner Startup of the Week: HealNow
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Onboarding and payments platform for pharmacies
HealNow wants to help pharmacies of all sizes process online payments for prescriptions. Normal payment processors aren’t built to fulfill medical orders, as there’s often additional information required from the patient. HealNow provides patients with a remote onboarding experience—over email, text message, or a call—to their HIPAA-compliant platform. Then, customers can use a payment processor of their choice to pay for orders (with options like credit, Apple Pay, and Google Pay).
🔗 Check them out: www.healnow.co
💰 Business Model
Pharmacies pay a monthly fee (starting at $0 for just the essentials) to use HealNow to facilitate online payments, as well as a flat service fee on prescriptions ordered through the platform.
📈 Traction and Fundraising
  • Participated in the Entrepreneur’s Roundtable Accelerator in 2018
  • Raised $1.3 million seed round with investors like SoftBank, Alabama Futures Fund, and more
  • Currently serving pharmacies in the Southwest and Midwest, with thousands of orders each day
👫 Founder(s)
  • Halston Prox, CEO: Previously Epic Specialist @ Baylor Scott & White Health, Health & Kinesiology @ UT Austin
  • Joshua Smith, CTO: Active Developer & Partner @ Vulk; Previously SWE @ Return Path, Economics @ UT Austin
🔮 Our Analysis
In the age of online pharmacies, brick-and-mortar drugstores need the tools to compete for customers. HealNow not only provides those tools but also customizes them to each pharmacy’s needs, making it possible for both large and small shops to benefit from its services. Additionally, the need for online payments has increased in quarantine, as patients might not want to visit pharmacies to purchase or pick up medication.
📚 Further Reading
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