The Pill Club Raises $51 Million After Venture Capitalists Find New Opportunities in Women’s Health

The Rise of Telemedicine and Digital Health

The healthcare industry has witnessed a significant shift in recent years, with the rise of telemedicine and direct-to-consumer sales platforms. Startups are streamlining the historically arduous process of accessing contraception, making it more accessible and convenient for individuals.

The Pill Club: A Pioneer in Online Birth Control Prescription and Delivery

The latest effort to secure a significant financing round is The Pill Club, an online birth control prescription and delivery service. Consumer-focused investor VMG Partners led its $51 million Series B, with participation from new investors GV and ACME Capital — which manages Sherpa Capital’s funds — and existing investors Base10 Partners and Shasta Ventures.

Key Statistics

• The Pill Club has raised a total of $67 million in funding.
• The company plans to scale its business by 50% and expand its prescription service across the entire U.S.
• With a team of doctors, nurses, and patient care coordinators, The Pill Club operates its own pharmacy and is licensed to prescribe medication in 35 states.

Founders’ Vision

Founder and CEO Nick Chang has stated that his company aims to empower women by making reproductive healthcare more common and accessible. Chang’s vision is rooted in his personal experiences, including growing up with an older sister who struggled to access birth control due to embarrassment and lack of information.

The Impact of Digital Health on Venture Capital Investment

Digital health has remained one of the hottest destinations for VC investment, with investors pouring $4.5 billion into U.S. companies in 2018 alone. Telemedicine startups have garnered significant attention, with a record $1.25 billion in funding in 2018.

Women’s Health and Reproductive Rights

Startups focused on women’s health, such as The Pill Club and competitor Nurx, have continued to attract VC investment. These companies are not only benefiting from the rise of telehealth but also from a societal shift sparked by attempts to limit women’s access to birth control.

Quotes from Key Players

• "At the end of the day, our company is about empowering women. It means empowering our patients to make their own healthcare decisions and making reproductive healthcare more common — something to not be shy about or worried about." – Nick Chang, Founder and CEO of The Pill Club
• "People want to talk about this. With so much happening from Hollywood to politics … it’s really got some people to say ‘ok, we really need to talk about what we are prioritizing as a society.’" – Nick Chang, Founder and CEO of The Pill Club

Future Plans and Expansion

The Pill Club plans to use the investment to accelerate the expansion of its 260-person team, explore launching more services within women’s healthcare, and broaden educational content for customers.

Conclusion

The Pill Club’s $51 million Series B funding is a significant milestone in the journey towards making reproductive healthcare more accessible and convenient. As the digital health landscape continues to evolve, startups like The Pill Club are poised to revolutionize the way individuals access contraception.