Photon Health, founded in 2021 and based in Brooklyn, is a startup that aims to revolutionize the prescription drug market. The company's primary offering is e-prescribing software sold to doctor's offices and health providers. This software enables doctors to send digital prescriptions to patients via text message, giving patients more control over their prescriptions. Through Photon's website, patients can choose from various pharmacies, including national chains like Walgreens, local independent pharmacies, or mail-order providers such as Amazon Pharmacy. The platform also notifies customers when their medication is ready for pickup or has been delivered. As of August 2024, Photon was handling over 70,000 electronic prescriptions monthly in its network. The company's long-term vision is to create an online marketplace where customers can compare prices and check the availability of prescription medications across pharmacies, with options for pickup or on-demand home delivery. Photon Health aims to increase transparency in the USD 700 billion US prescription drug market, potentially leading to competitive pressure to lower prices. The company plans to expand its services to include routing prescriptions for controlled substances in 2025.
Key customers and partnerships
Photon Health has focused on building its prescriber base by selling to virtual health providers. Some of its key customers include Sesame, Summer Health, and WeightWatchers' clinic arm. The company's approach has attracted attention from investors, with Notation Capital and Flare Capital Partners leading a USD 9 million funding round. Photon Health had raised over USD 16 million in total from various venture capital firms and angel investors, including founders of healthcare-related startups like Carbon Health and PillPack.
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