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blinkhealth.com

Stage

Series B | Alive

Total Raised

$170.74M

Last Raised

$90M | 5 yrs ago

About Blink Health

Blink Health, formerly Vital Matters, helps patients get the right medicine at the lowest cost. The company is creating the first consumer-centered platform that translates big data insights into valuable savings and information for patients.

Blink Health Headquarter Location

305 West Broadway

New York, New York, 10003,

United States

844-442-5465

ESPs containing Blink Health

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Healthcare / Biopharmaceuticals

This market includes companies that enable consumers to buy prescription medications at the lowest price. Circumventing pharmacy benefit managers (PBMs) increases transparency around and exerts downward pressure on drug pricing.

Blink Health named as Leader among 4 other companies, including Hoy Health, Zipdrug, and PharmaCCX.

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Expert Collections containing Blink Health

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Blink Health is included in 4 Expert Collections, including Pharma Supply Chain.

P

Pharma Supply Chain

1,357 items

D

Digital Health

13,075 items

Technologies, platforms, and systems that engage consumers for lifestyle, wellness, or health-related purposes; capture, store, or transmit health data; and/or support life science and clinical operations. (DiME, DTA, HealthXL, & NODE.Health)

T

Telehealth

2,833 items

Companies developing, offering, or using electronic and telecommunication technologies to facilitate the delivery of health & wellness services from a distance. *Columns updated as regularly as possible; priority given to companies with the most and/or most recent funding.

B

Biopharma Tech

401 items

Latest Blink Health News

Pet medication delivery startup Mixlab raises $20M

Aug 2, 2021

The company plans to grow its team and to launch more fulfillment centers across the country There are plenty of startups out there now dedicated to helping people get their medications in an easy and timely matter; it has become a big space, with a lot of major players, including NowRX, Capsule, Blink Health, Medly, PillPack and  Amazon Pharmacy . Mixlab is a company operating in the same space, but with a twist: instead of offering a service for humans, it works directly with veterinarians so that pet parents can easily order medications for their animals, receiving them as quickly as the same day. That includes branded, generic, compounded, and over-the-counter products. The company, which was founded in 2017, announced a $20 million round of funding on Monday, led by Sonoma Brands , with participation from Global Founders Capital, Monogram Capital, Lakehouse Ventures, Brand Foundry and others, bringing its total raised to $28.8 million. The idea for Mixlab came when Fred Dijols, the company's CEO and co-founder, had a pet that needed medications for a chronic illness and he had what he described as, "literally had the worst experience of my life buying anything." "We took a model that's a little bit antiquated and added technology to speed up prescriber workflow to work with veterinarians to allow them to prescribe quickly, track where orders are, make sure that they can rely on a pharmacy partner, and then also create an unbelievable amazing consumer experience," he said. "We're really trying to redefine that pet pharmacy experience for pet parents, and add convenience." Doing this kind of prescription delivery is actually a more complicated in the veterinary world than it is in the human world, he explained, partially because vets typically sell their medications directly to their customers, meaning that the company had to partner with them directly. On top of that, there's also the issue of compounding, which means actually making the medications to conform to each pet's needs. Roughly half the medications that Mixlabs delivers are currently created in-house, while the other half are commercially available and can be bought from distributors or manufacturers. "It happens very often that pets need more appropriately dosed medications. Pets come in all different shapes and sizes but you can't cut a pill into eighths, since that creates a lot of powder. Also, a lot of pets have a discerning palate and they want to have their chicken flavored treat instead of having a pill shoved down their throat. So, that's what makes it a little bit different." Since Mixlabs partners with the vets, the majority of its business comes from having the veterinarians refer the company to the pet parents who come into their practice. The vets put the prescription on the platform, then Mixlab will reach out to the pet parent to sign them up, which often even before they've left the vets office. Once they sign up, a box arrives at their door with a toy that changes every time, with really clear and easy to read instructions, as well as a funny note from the pharmacist to the pet. The idea is to help pet parents stay compliant with these medications, so Mixlabs will check in after a couple days via text, along with automated refill reminders. Because the company has so many different drugs, consumers pay for every order they place, rather than needing to sign up for a membership; they are able to save money, however, if they choose the auto ship option. While the company doesn't disclose how many vets or how many pet parents are on its platform, Dijols would disclose that Mixlabs has seen those numbers grow over 5x from 2019. In addition, the company also saw its revenue grow 3x year-over-year. Now that it has this new funding, the company plans to use it to expand its team; it currently has about 100 employees, and it will be hiring key executives, while also focusing on growing its teams across the organization in three main areas: technology, operations, and sales and marketing. The company will also be expanding geographically, launching new fulfillment centers in the Midwest and in the South; currently, the company has fulfillment centers in New York and Los Angeles, and it plans to expand its same day delivery option to more markets. Finally, it will also be use to build out its product. On the pet parent side, it also plans to build out its app. the pet parent side, to have a real app eventually, while it plans to offer better integrations into veterinarian practice management systems to give them a more streamlined experience, with features such as dosage calculations. "There is a component which we have not launched yet, but it's coming. I can't talk about it too much, but there is a component of us being able to retain revenue for these veterinarians, and to partner with them to prevent prescriptions from going out to Chewy or 1-800-PetMeds, and staying in house in their ecosystem. So, that is coming online; we haven't launched it yet, but there's going be an announcement at some point," Dijols told me. The ultimate goal for Mixlabs is to build a company that adds value for its customers, meaning both the vets and the pet parents. "Overall, the thing that we're doing, and that's very differentiated, is building this brand. It's like a win-win-win type of brand, where we're helping veterinarians help pet parents, and we just want to make sure everybody is happy, including the pets. That is what will make us successful in the industry, to help patients help pets, and to make sure that they're healthy and happy. So, that's our mission."

Blink Health Web Traffic

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Blink Health Rank

  • Where is Blink Health's headquarters?

    Blink Health's headquarters is located at 305 West Broadway, New York.

  • What is Blink Health's latest funding round?

    Blink Health's latest funding round is Series B.

  • How much did Blink Health raise?

    Blink Health raised a total of $170.74M.

  • Who are the investors of Blink Health?

    Investors of Blink Health include 8VC, Burch Creative Capital and BoxGroup.

  • Who are Blink Health's competitors?

    Competitors of Blink Health include Waltz Health, Alto Pharmacy, RxRevu, phil, Capsule and 7 more.

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