ZappRX receives USD1 million in seed funding, promises to update prescription process
Pharmaceutical software startup ZappRX received USD1 million in its recent seed funding. The funding was led by Atlas Ventures, Hakan Satiroglu, Life Sciences Angel Network and other angel investors. The startup also announced the addition of Oxford Health founding member Jay Silverstein, NaviNet founder and CEO Will Cowen, and George Kassabgi, Keas.com founder, as the company's advisors.
ZappRX had been seeking revenue-generating partnerships in healthcare. The new fund was said to be an indicator to how receptive the investors are with the future success of ZappRX's product and services. Zoe Barry, ZappRX founder, had found that there has been a growing need to revolutionize the digital process and networking of prescription documentation. ZappRX said that the inefficiency of the current prescription process cost drug stores USD1.2 billion annually.
ZappRX's app offering for download could be used in managing prescriptions in virtually any pharmacy. Although many apps such as Pharmacy Shuffle and ePrescription had paved the way, earlier e-prescription apps has yet to debunk the archaic, one-sided flow process of prescription issuance. Moreover, ZappRx promised that its platform and apps are HIPAA-compliant. This means that apps and services subscribers would not worry about having control of their own medical data, or get plagued with numerous promotions or coupons.