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§ Private Profile · Brooklyn, NY, USA
Medly Pharmacy is a technology company.
Medly Pharmacy operates as a full-service digital pharmacy, providing free, same-day prescription delivery. Its core offering integrates technology to streamline the entire prescription process for patients and healthcare providers. The platform includes automatic refills, digital insurance processing, and transparent pricing, enhancing convenience and accessibility in pharmaceutical services.
Co-founded by brothers Chirag Patel and Marg Patel, Medly Pharmacy originated from their background as second-generation pharmacists. Their insight was to transform the traditional pharmacy experience, addressing inefficiencies and improving access through a technology-driven approach to prescription fulfillment and patient care.
Medly Pharmacy primarily serves patients desiring convenient prescription management and healthcare providers seeking streamlined pharmacy interactions. Its central mission is to democratize access to essential pharmaceutical services, simplifying prescription processes and making personalized care readily available. The company envisions modern, accessible pharmacy solutions for everyone.
Medly Pharmacy has raised $100.0M across 1 funding round.
Medly Pharmacy has raised $100.0M in total across 1 funding round.
Medly Pharmacy has raised $100.0M in total across 1 funding round.
Medly Pharmacy's investors include Volition Capital, Ian Sigalow, Horsley Bridge, Lerer Hippeau.
Medly Pharmacy is a digital pharmacy platform that builds a mobile app and delivery network for same-day prescription fulfillment, serving patients seeking convenient access to medications, health products, and pharmacist consultations.[1][2][3] It solves the inefficiencies of traditional pharmacies—long waits, multiple touchpoints with doctors and insurance, and lack of transparency—by enabling prescription transfers, real-time tracking, scheduling, and doorstep delivery, often free, while maintaining some physical storefronts.[2][3][4] Founded in 2017 in Brooklyn, New York, Medly raised $100M total, expanded to states like New Jersey, Pennsylvania, Maryland, and Florida, and fulfilled 500,000 deliveries before undergoing an asset sale.[1][2]
Medly was founded in 2017 by siblings Marg Patel (CEO) and Sahaj Patel, who drew from their experience running independent pharmacies in New York to create a tech-enabled alternative.[2] The idea emerged from observing patient frustrations with fragmented prescription processes, prompting a hybrid model blending digital tools with local delivery networks instead of mail-order reliance.[2][3] Early traction came via rapid expansion post-launch, a Series A led by Greycroft, and a $100M Series B in 2020 amid COVID-19-driven demand for contactless services, including partnerships like one with EmblemHealth for 3.2 million members.[1][2]
Medly rides the digital health wave, accelerating during COVID-19 as consumers and providers prioritized contactless pharmacy access amid shifting behaviors in critical sectors.[2] Its timing capitalized on telehealth growth and demand for on-demand services, positioning it against competitors like Blink Health, Phil, NimbleRx, and ScriptDrop in a market favoring tech over physical stores.[1] Favorable forces include rising healthcare digitization, insurer partnerships, and investor interest in scalable platforms; Medly influenced the ecosystem by proving hybrid models could deliver explosive growth, though its asset sale highlights execution risks in pharmacy regulations and competition.[1][2]
Medly's asset sale marks a pivot point, with its tech platform and delivery infrastructure likely acquired to fuel acquirers' digital health expansions amid ongoing same-day delivery trends.[1] Buyer(s) could integrate Medly's app and network to capture market share in a sector projected for further consolidation, shaped by AI-driven personalization, insurance integrations, and nationwide scaling.[1][3] Its legacy as a patient-focused disruptor endures, potentially evolving acquirers' influence by embedding humane, tech-first pharmacy into broader ecosystems—echoing its origins in simplifying access for healthier communities.[2][6]
Medly Pharmacy has raised $100.0M across 1 funding round. Most recently, it raised $100.0M Series B in July 2020.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2020 | $100M Series B | Volition Capital, IAN Sigalow | Horsley Bridge, Lerer Hippeau | Announced |