Series A
Online pharmacy PillPack has secured $8.75 million in Series A funding in a round led by Accel Partners. Other participants in the round included Atlas Venture, High Line Venture Partners, QueensBridge Venture Partners, Andy Palmer, and David Tisch. The company, based in Cambridge, MA, has now raised $12.75 million to date and is available in 40 U.S. states. The company’s service includes coordination between doctors and insurance providers to ensure medication is delivered at the right time. The company will use the new funds to expand its operations and distribution. “PillPack is a seamless service for medications, complete with passionate pharmacists who have a real sense of mission and seek to deliver better care,” said Fred Destin, partner at Accel Partners. “This financing will accelerate PillPack towards replacing antiquated pharmacy for anyone who takes multiple medications.”
Series C
Digital Reasoning, a cognitive computing company, has raised $24 million in Series C funding led by Goldman Sachs and Credit Suisse NEXT Investors. The company offers machine learning algorithms capable of analyzing human language data at scale, and its technology has been applied to a range of sectors, from market research to risk management. Digital Reasoning will use the funding to accelerate sales and partnerships both in North America and Europe. “This Series C investment from Goldman Sachs and the Credit Suisse NEXT Investors marks a key milestone on our journey to becoming the trusted leader in cognitive computing that answers critically important questions in a Big Data world. Our companies simply could not be better aligned given their depth of knowledge, global reach, and commitment to innovation.” said Tim Estes, Chairman and CEO at Digital Reasoning.
Mobile phone directory app Truecaller has raised a $60 million Series C round from Atomico, Kleiner Perkins Caufield & Byers (KPCB) and Sequoia Capital. The company’s offering allows users to identify incoming calls and look up numbers in an online directory. TrueCaller, headquartered in Stockholm, was founded in 2009 and has raised $80 million today. The latest funds will be used to expand globally. “We started by helping people manage their contact information and block spam calls, but this is just the beginning of what we can do for our users,” said Truecaller co-founder and CEO Alan Mamedi in a company blog post.
Funding
Peel, which has developed an app that turns a smartphone into a universal remote control, has attracted $50 million in investment from Alibaba. The entertainment solution also offers methods of discovering new TV shows and social interaction about the TV shows being watched. Peel boasts 90 million users currently and will expand its offerings with the new funding.