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🦄 Unicorner Startup of the Week: HealNow
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✍️ Notes From The Editors
Hi there! If you enjoy reading our newsletter and would like to contribute, we're recruiting volunteers to help us grow. If this sounds interesting to you, reply to this email with your resume and a few sentences on why you'd like to join our team. We look forward to your responses!
Also: we'd like to issue a small correction to last week's newsletter. Rob Stevens was incorrectly listed as Tive's co-founder on LinkedIn and Crunchbase. You can read the updated newsletter in our archives here.
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Onboarding and payments platform for pharmacies
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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).
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💰 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
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Raised $1.3 million seed round with investors like SoftBank, Alabama Futures Fund, and more
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Currently serving pharmacies in the Southwest and Midwest, with thousands of orders each day
👫 Founder(s)
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Halston Prox, CEO: Previously Epic Specialist @ Baylor Scott & White Health, Health & Kinesiology @ UT Austin
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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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Made with 💜 by the Unicorner Team 🦄
Comments? Just reply to this email!
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🎁 Bonus Content!
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