Bessemer Leads $23M Series B for Aspen RxHealth

1/7/21

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."

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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