Year: 2018

16 Oct 2018

Journal raises $1.5 million to bring Google-like search to your personal life

In today’s world of Slack, email and a gazillion other web apps and services, it’s become increasingly hard to search for information. Did your boss Slack you or email you that information about your bonus? Or did they share it via a Google Doc? Who knows? Clearly not you, but Journal knows.

Journal, a machine learning and natural language processing-powered platform designed to search across all your web services and tools, today announced a $1.5 million seed round led by Social Capital. Since receiving the funding about a year ago, Journal has been able to launch a beta community of users. Today, Journal is publicly launching its Mac app, web app and Chrome extension.

“We’re passionate about helping people use information effectively,” Journal co-founder and CEO Samiur Rahman told TechCrunch. “In this case, we want to help people manage their knowledge. So we want to help individuals to leverage all of the places that they have information right now.”

It was that thesis that led Rahman and his team to land on wanting to build a suite of tools that “acts as a second brain for people. That’s obviously a long way away but that’s what our long-term vision is.”

Based on the demo Rahman showed me, Journal looks pretty darn useful. I had an opportunity to install it, but I was hesitant to do so. That’s because Journal requires viewing permissions to your email, apps and other services with which you sync Journal.

That’s scary for a couple of reasons — the main one being privacy. For example, what happens if Journal gets hacked? Or if the government requests data from Journal?

Well, Journal uses zero-knowledge encryption that ensures Journal employees can’t read or decrypt the information of the user. Here’s a bit more information on how Journal handles security:

Journal asks for view permission to the apps a user integrates so that we can enable search across their apps.
To keep users’ information safe, all data in Journal is encrypted both in transit and at rest.
Data such as the contents of files, emails, messages, etc. are encrypted using the Fernet symmetric encryption method, which uses AES-128 in CBC mode + HMAC-SHA-256 with a random IV. This means that the data can’t be decrypted without the secret key. Our file systems where the conceptual index is stored is encrypted using Amazon KMS, which uses AES-256 in GCM mode.
The secret key is a combination of a hash from the OAuth access key for the account you’ve integrated and a Journal secret key. If our database gets hacked somehow, the hacker would need to also be able to get access to our separate authentication store and our secret key to decrypt your information.

I’m not a security expert, so I asked my colleague, TC Security Editor Zack Whittaker, for some insight. He told me Rahman’s explanation makes sense, further explaining that what Journal does is essentially split the private keys needed to access your data. Whittaker said that’s smart, but that he’s more concerned about general trust.

Journal has access to a treasure trove of data — much of which would be very valuable to advertisers. Right now, advertising is not part of Journal’s revenue plans, but that could change.

“I can’t say for certainty that we won’t, but I think ad-based revenue ends up creating some really bad incentives, Especially when you’ve got all this really private data about people and their usage patterns. The very likely route is that we end up going through companies that pay for teams to use.”

As with most tech products these days, it comes down to how much do you trust the company and how much do you care about your data?

And depending on who you are, you may have a stronger threat model — that is, what threats you face based on who you are. Black communities, for example, are at a greater risk of surveillance by the government than white communities. So you adjust your behavior based on your personal threats.

Privacy concerns aside, Journal looks like a really useful product. But we’ll see if I get around to setting it up.

16 Oct 2018

The new Kindle Paperwhite is thinner and waterproof

The Voyage may be dead, but the Kindle line still has some life left in it. This time last year, Amazon upgraded the high-end Oasis model, and now the mid-range Paperwhite is getting a little love.The workhorse of the company’s devoted e-reader line just got a handful of upgrades that will give users a more premium experience, while keeping the device’s starting price at $130.

Waterproofing is the most exciting among the upgrades here. Remember that time four years ago when we ran a story with the headline, “This Waterproof Kindle Paperwhite Is Humanity’s Greatest Achievement?” Well, this is that potential fulfilled — now directly from Amazon. The reader sports an IPX8 rating, meaning it can be dunked in two meters of water for up to an hour.

That bit comes, in part, courtesy of another key upgrade. Like the Oasis before it, the reader sports a flush front, rather than the raised bezels found on older, cheaper models. The move gives the model an overall more premium feel and should help keep water from invading its circuits. It also goes a ways toward making this the thinnest and lightest Paperwhite, as well.

Another key change is the bump from four LEDs to five. Seems like a small thing, but it goes a ways toward keeping the front lighting more uniform across the board, versus the more patchy consistency found in earlier models.

Performance should be roughly the same on this model, though storage has been doubled to 8GB. There’s a 32GB model as well, for those who really aren’t into cloud storage. That move comes largely because the model is also getting Bluetooth, so users can listen to audio books through Audible using the device. The Whispersync feature makes sure users are up to date with both the text and audio versions.

There are a couple of tweaks to the software, including an updated home page with more customized recommendations, along with the ability to save different setting profiles.

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Pre-orders start today, and the new Paperwhite will begin shipping November 9. That $130 version includes Special Offers (ads), which Amazon says most customers are still opting into. Prices go up from there.

16 Oct 2018

See Spot dance: Watch a Boston Dynamics robot get a little funky

In this fun video the Boston Dynamics Spot dances, wiggles, and shimmies right into our hearts. This little four-legged robot – a smaller sibling to the massive Big Dog – is surprisingly agile and the team at Boston Robotics have taught the little robot to dance to Bruno Mars which means that robots could soon replace us on the factory floor and on the dance floor. Good luck, meatbags!

As one YouTube commenter noted: if you think Spot is happy now just imagine how it will dance when we’re all gone!

16 Oct 2018

Lyft’s $299 subscription plan is launching to the masses

Lyft has been testing versions of an all-access monthly subscription plan since March. Now, it’s ready to make it available to everyone in the U.S. 

Starting today, U.S.-based riders can sign up for the plan. It will be available to everyone in the U.S. by the end of the week. Lyft’s All-Access plan costs $299 per month for 30 rides (up to $15 each). Let’s say your ride goes over $15, you would just pay the difference. All other rides past the initial 30 you take that month are discounted five percent. It’s worth noting that rides do not rollover.

Before Lyft landed on this plan, it tested a much cheaper one that cost just $199 upfront to get 30 free rides worth up to $15 per ride. Another plan Lyft was testing cost $399 a month for 60 rides. Then, in May, Lyft opened up a wait list for a plan that cost $200 upfront for 30 rides (up to $15 each).

Lyft’s subscription product is all part of the company’s plan to get people to ditch their own cars (except the people who use their own cars to drive around Lyft customers). Earlier this year, Lyft CEO Logan Green said the company was moving in a direction to achieve for transportation what Netflix achieved for entertainment.

Specifically, Green said, “We are going to move the entire industry from one based on ownership, to one based on subscription.”

16 Oct 2018

Mighty, the iPod Shuffle for Spotify, gets a bigger battery and better bluetooth

Technology, like so much of life, is cycle. Gadget evolve, leaving holes in our lives that some fresh new startup is waiting in the wings to fill. There are few better examples of the phenomenon than the Mighty. Introduced last year, the product built a pretty solid reputation as “the iPod Shuffle for Spotify.”

The new Mighty Vibe is designed to address some of users’ concerns with the first generation product. Chief amongst the updates is improved bluetooth range. Enough of the product’s 50,000 users complained about spotty connections that the company made it a priority this time out.

The new version of the device should work at a range of up to 20 feet — of course, the thing is small enough to be worn on your person, so that’s not a huge issue in most cases. It’s also water/sweat resistant, making it a solid workout companion. The larger battery, meanwhile, should get upwards of five hours on a charge. The app has been redesigned from the ground up, too, for faster operation.

The Vibe is priced the same as its predecessor, at $86 (while the first-gen will come down in price until the company sells out of back stock). It still only works with Spotify, though Mighty tells me that it’s working with additional partners, with plans to offer more music service compatibility some time next year.

16 Oct 2018

Temasek acquires Sygnia, an Israeli cybersecurity startup, for $250M

Temasek, the Singaporean government-controlled company that is one of the world’s biggest investors, is today announcing an acquisition to beef up its cybersecurity business. It is acquiring Sygnia, a startup out of Israel that keeps a low profile, but has built technology and services to help large organizations respond to cyber threats. The price of the deal is not being officially disclosed, but a source close to it says that Temasek is buying Sygnia for $250 million. After the deal closes, Temasek will continue to let Syngia operate as an independent entity.

Sygnia came out of stealth less than a year ago, after being incubated by Team8, an investor/company builder in Israel that itself has been built like a startup, with Intel, Microsoft, AT&T, Qualcomm, Cisco, Nokia and Temasek all backers. Team8’s focus is on cybersecurity, and as such it lives somewhat under the radar, but the other three companies that have been spun out of so far it are Illusive Networks, Claroty and Hysolate.

Sygnia is typical of the makeup of Team8-incubated startups. It was co-founded by a team of elite security specialists from Israel: Shachar Levy (who is the CEO), Ariel Smoler, Arick Goomanovsky and Ami Kor, with its chairman Nadav Zafrir, the co-founder and CEO of Team8 and a former commander of Unit 8200. The basic idea behind Sygnia is both to build technology, tools and services to help an organization’s resilience — both to reduce the likelihood of a breach, and to help the company weather an attack if one does happen. Other members of the team come from military and security industry backgrounds, and generally are always in training, either to hone their own skills or to train customers with whom it works.

Team8 had invested only $4.3 million into Sygnia, the only outside funding the startup had ever taken.

Part of the reason for that is because Sygnia has been generating revenue since before it came out of stealth. It doesn’t name specific customers, or threat incidents that it has helped manage (or avoid, for that matter), but notes that typically it interacts with executive management, boards, and technology teams, and it has customers in the financial, legal, retail and consumer goods products, information technology, media and entertainment, pharmaceutical, telecommunication, logistics and manufacturing sectors, with customers based in the US, Canada, EMEA and Latin America.

The deal should help Sygnia add another part of the world of the world to that list: Asia, both providing services for Temasek portfolio companies and others. Although Temasek will operate Sygnia as its own independent entity, this deal is a sign of how the Singaporean company is ramping up its cybersecurity activities overall: just last month, it formed a cybersecurity joint venture called Ensign InfoSecurity with StarHub, the Singaporen carrier, bringing together Temasek subsidiary Quann and StarHub subsidiary Accel Systems.

If Sygnia’s customer list and trade were both strong and today, more than ever before, cybersecurity is a huge priority (and business opportunity), it’s worth wondering why the startup decided to sell up so quickly. From what I understand, an acquisition by Temasek — itself a huge holding company by way of its many investments — is essentially like securing a dedicated and large-pocketed owner that will help the company scale in an efficient way to meet demand.

“Cyber, in its current magnitude, is a new domain of technology, a new domain of warfare, and a new domain of business,” said Sygnia’s Levy in a statement. “Companies are today confronted with a level of risk which until lately was the realm of militaries and states. We assist them in balancing this asymmetry with ‘military grade security’ – conceptual frameworks,  methodologies and technologies built to build resilience and win the battle within their network.”

Team8 will continue to be involved with the company post-acquisition — not least because of the chairman connection.

“Sygnia has built a powerful combination of professional proficiency, methodologies, technologies, and a culture of excellence, which is critically needed in confronting the growing complexity of cyber,” said Zafrir in a statement. “Team8 will remain committed to Sygnia’s success and we will continue to collaborate and work closely together.”

16 Oct 2018

Gartner picks digital ethics and privacy as a strategic trend for 2019

Analyst Gartner, best known for crunching device marketshare data; charting technology hype cycles; and churning out predictive listicles of emergent capabilities at software’s cutting edge has now put businesses on watch that as well as dabbling in the usual crop of nascent technologies organizations need to be thinking about wider impacts next year — on both individuals and society.

Call it a sign of the times but digital ethics and privacy has been named as one of Gartner’s top ten strategic technology trends for 2019. That, my friends, is progress of a sort. Albeit, it also underlines how low certain tech industry practices have sunk that ethics and privacy is suddenly making a cutting-edge trend agenda, a couple of decades into the mainstream consumer Internet.

The analyst’s top picks do include plenty of techie stuff too, of course. Yes blockchain is in there. Alongside the usual string of caveats that the “technologies and concepts are immature, poorly understood and unproven in mission-critical, at-scale business operations”.

So too, on the software development side, is AI-driven development — with the analyst sneaking a look beyond the immediate future to an un-date-stamped new age of the ‘non-techie techie’ (aka the “citizen application developer”) it sees coming down the pipe, when everyone will be a pro app dev thanks to AI-driven tools automatically generating the necessary models. But that’s definitely not happening in 2019.

See also: Augmented analytics eventually (em)powering “citizen data science”.

On the hardware front, Gartner uses the umbrella moniker of autonomous things to bundle the likes of drones, autonomous vehicles and robots in one big mechanical huddle — spying a trend of embodied AIs that “automate functions previously performed by humans” and work in swarming concert. Again, though, don’t expect too much of these bots quite yet — collectively, or, well, individually either.

It’s also bundling AR, VR and MR (aka the mixed reality of eyewear like Magic Leap One or Microsoft’s Hololens) into immersive experiences — in which “the spaces that surround us define ‘the computer’ rather than the individual devices. In effect, the environment is the computer” — so you can see what it’s spying there.

On the hardcore cutting edge of tech there’s quantum computing to continue to tantalize with its fantastically potent future potential. This tech, Gartner suggests, could be used to “model molecular interactions at atomic levels to accelerate time to market for new cancer-treating drugs” — albeit, once again, there’s absolutely no timeline suggested. And QC remains firmly lodged in an “emerging state”.

One nearer-term tech trend is dubbed the empowered edge, with Gartner noting that rising numbers of connected devices are driving processing back towards the end-user — to reduce latency and traffic. Distributed servers working as part of the cloud services mix is the idea, supported, over the longer term, by maturing 5G networks. Albeit, again, 5G hasn’t been deployed at any scale yet. Though some rollouts are scheduled for 2019.

Connected devices also feature in Gartner’s picks of smart spaces (aka sensor-laden places like smart cities, the ‘smart home’ or digital workplaces — where “people, processes, services and things” come together to create “a more immersive, interactive and automated experience”); and so-called digital twins; which isn’t as immediately bodysnatcherish as it first sounds, though does refer to “digital representation of a real-world entity or system” driven by an estimated 20BN connected sensors/endpoints which it reckons will be in the wild by 2020

But what really stands out in Gartner’s list of developing and/or barely emergent strategic tech trends is digital ethics and privacy — given the concept is not reliant on any particular technology underpinning it; yet is being (essentially) characterized as an emergent property of other already deployed (but unnamed) technologies. So is actually in play — in a way that others on the list aren’t yet (or aren’t at the same mass scale).

The analyst dubs digital ethics and privacy a “growing concern for individuals, organisations and governments”, writing: “People are increasingly concerned about how their personal information is being used by organisations in both the public and private sector, and the backlash will only increase for organisations that are not proactively addressing these concerns.”

Yes, people are increasingly concerned about privacy. Though ethics and privacy are hardly new concepts (or indeed new discussion topics). So the key point is really the strategic obfuscation of issues that people do in fact care an awful lot about, via the selective and non-transparent application of various behind-the-scenes technologies up to now — as engineers have gone about collecting and using people’s data without telling them how, why and what they’re actually doing with it.

Therefore, the key issue is about the abuse of trust that has been an inherent and seemingly foundational principle of the application of far too much cutting edge technology up to now. Especially, of course, in the adtech sphere.

And which, as Gartner now notes, is coming home to roost for the industry — via people’s “growing concern” about what’s being done to them via their data. (For “individuals, organisations and governments” you can really just substitute ‘society’ in general.)

Technology development done in a vacuum with little or no consideration for societal impacts is therefore itself the catalyst for the accelerated concern about digital ethics and privacy that Gartner is here identifying rising into strategic view.

It didn’t have to be that way though. Unlike ‘blockchain’ or ‘digital twins’, ethics and privacy are not at all new concepts. They’ve been discussion topics for philosophers and moralists for scores of generations and, literally, thousands of years. Which makes engineering without consideration of human and societal impacts a very spectacular and stupid failure indeed.

And now Gartner is having to lecture organizations on the importance of building trust. Which is kind of incredible to see, set alongside bleeding edge science like quantum computing. Yet here we seemingly are in kindergarten…

It writes: “Any discussion on privacy must be grounded in the broader topic of digital ethics and the trust of your customers, constituents and employees. While privacy and security are foundational components in building trust, trust is actually about more than just these components. Trust is the acceptance of the truth of a statement without evidence or investigation. Ultimately an organisation’s position on privacy must be driven by its broader position on ethics and trust. Shifting from privacy to ethics moves the conversation beyond ‘are we compliant’ toward ‘are we doing the right thing.”

The other unique thing about digital ethics and privacy is that it cuts right across all other technology areas in this trend list.

You can — and should — rightly ask what does blockchain mean for privacy? Or quantum computing for ethics? How could the empowered edge be used to enhance privacy? And how might smart spaces erode it? How can we ensure ethics get baked into AI-driven development from the get-go? How could augmented analytics help society as a whole — but which individuals might it harm? And so the questions go on.

Or at least they should go on. You should never stop asking questions where ethics and privacy are concerned. Not asking questions was the great strategic fuck-up condensed into Facebook’s ‘move fast and break things’ anti-humanitarian manifesto of yore. Y’know, the motto it had to ditch after it realized that breaking all the things didn’t scale.

Because apparently no one at the company had thought to ask how breaking everyone’s stuff would help it engender trust. And so claiming compliance without trust, as Facebook now finds itself trying to, really is the archetypal Sisyphean struggle.

16 Oct 2018

Gartner picks digital ethics and privacy as a strategic trend for 2019

Analyst Gartner, best known for crunching device marketshare data; charting technology hype cycles; and churning out predictive listicles of emergent capabilities at software’s cutting edge has now put businesses on watch that as well as dabbling in the usual crop of nascent technologies organizations need to be thinking about wider impacts next year — on both individuals and society.

Call it a sign of the times but digital ethics and privacy has been named as one of Gartner’s top ten strategic technology trends for 2019. That, my friends, is progress of a sort. Albeit, it also underlines how low certain tech industry practices have sunk that ethics and privacy is suddenly making a cutting-edge trend agenda, a couple of decades into the mainstream consumer Internet.

The analyst’s top picks do include plenty of techie stuff too, of course. Yes blockchain is in there. Alongside the usual string of caveats that the “technologies and concepts are immature, poorly understood and unproven in mission-critical, at-scale business operations”.

So too, on the software development side, is AI-driven development — with the analyst sneaking a look beyond the immediate future to an un-date-stamped new age of the ‘non-techie techie’ (aka the “citizen application developer”) it sees coming down the pipe, when everyone will be a pro app dev thanks to AI-driven tools automatically generating the necessary models. But that’s definitely not happening in 2019.

See also: Augmented analytics eventually (em)powering “citizen data science”.

On the hardware front, Gartner uses the umbrella moniker of autonomous things to bundle the likes of drones, autonomous vehicles and robots in one big mechanical huddle — spying a trend of embodied AIs that “automate functions previously performed by humans” and work in swarming concert. Again, though, don’t expect too much of these bots quite yet — collectively, or, well, individually either.

It’s also bundling AR, VR and MR (aka the mixed reality of eyewear like Magic Leap One or Microsoft’s Hololens) into immersive experiences — in which “the spaces that surround us define ‘the computer’ rather than the individual devices. In effect, the environment is the computer” — so you can see what it’s spying there.

On the hardcore cutting edge of tech there’s quantum computing to continue to tantalize with its fantastically potent future potential. This tech, Gartner suggests, could be used to “model molecular interactions at atomic levels to accelerate time to market for new cancer-treating drugs” — albeit, once again, there’s absolutely no timeline suggested. And QC remains firmly lodged in an “emerging state”.

One nearer-term tech trend is dubbed the empowered edge, with Gartner noting that rising numbers of connected devices are driving processing back towards the end-user — to reduce latency and traffic. Distributed servers working as part of the cloud services mix is the idea, supported, over the longer term, by maturing 5G networks. Albeit, again, 5G hasn’t been deployed at any scale yet. Though some rollouts are scheduled for 2019.

Connected devices also feature in Gartner’s picks of smart spaces (aka sensor-laden places like smart cities, the ‘smart home’ or digital workplaces — where “people, processes, services and things” come together to create “a more immersive, interactive and automated experience”); and so-called digital twins; which isn’t as immediately bodysnatcherish as it first sounds, though does refer to “digital representation of a real-world entity or system” driven by an estimated 20BN connected sensors/endpoints which it reckons will be in the wild by 2020

But what really stands out in Gartner’s list of developing and/or barely emergent strategic tech trends is digital ethics and privacy — given the concept is not reliant on any particular technology underpinning it; yet is being (essentially) characterized as an emergent property of other already deployed (but unnamed) technologies. So is actually in play — in a way that others on the list aren’t yet (or aren’t at the same mass scale).

The analyst dubs digital ethics and privacy a “growing concern for individuals, organisations and governments”, writing: “People are increasingly concerned about how their personal information is being used by organisations in both the public and private sector, and the backlash will only increase for organisations that are not proactively addressing these concerns.”

Yes, people are increasingly concerned about privacy. Though ethics and privacy are hardly new concepts (or indeed new discussion topics). So the key point is really the strategic obfuscation of issues that people do in fact care an awful lot about, via the selective and non-transparent application of various behind-the-scenes technologies up to now — as engineers have gone about collecting and using people’s data without telling them how, why and what they’re actually doing with it.

Therefore, the key issue is about the abuse of trust that has been an inherent and seemingly foundational principle of the application of far too much cutting edge technology up to now. Especially, of course, in the adtech sphere.

And which, as Gartner now notes, is coming home to roost for the industry — via people’s “growing concern” about what’s being done to them via their data. (For “individuals, organisations and governments” you can really just substitute ‘society’ in general.)

Technology development done in a vacuum with little or no consideration for societal impacts is therefore itself the catalyst for the accelerated concern about digital ethics and privacy that Gartner is here identifying rising into strategic view.

It didn’t have to be that way though. Unlike ‘blockchain’ or ‘digital twins’, ethics and privacy are not at all new concepts. They’ve been discussion topics for philosophers and moralists for scores of generations and, literally, thousands of years. Which makes engineering without consideration of human and societal impacts a very spectacular and stupid failure indeed.

And now Gartner is having to lecture organizations on the importance of building trust. Which is kind of incredible to see, set alongside bleeding edge science like quantum computing. Yet here we seemingly are in kindergarten…

It writes: “Any discussion on privacy must be grounded in the broader topic of digital ethics and the trust of your customers, constituents and employees. While privacy and security are foundational components in building trust, trust is actually about more than just these components. Trust is the acceptance of the truth of a statement without evidence or investigation. Ultimately an organisation’s position on privacy must be driven by its broader position on ethics and trust. Shifting from privacy to ethics moves the conversation beyond ‘are we compliant’ toward ‘are we doing the right thing.”

The other unique thing about digital ethics and privacy is that it cuts right across all other technology areas in this trend list.

You can — and should — rightly ask what does blockchain mean for privacy? Or quantum computing for ethics? How could the empowered edge be used to enhance privacy? And how might smart spaces erode it? How can we ensure ethics get baked into AI-driven development from the get-go? How could augmented analytics help society as a whole — but which individuals might it harm? And so the questions go on.

Or at least they should go on. You should never stop asking questions where ethics and privacy are concerned. Not asking questions was the great strategic fuck-up condensed into Facebook’s ‘move fast and break things’ anti-humanitarian manifesto of yore. Y’know, the motto it had to ditch after it realized that breaking all the things didn’t scale.

Because apparently no one at the company had thought to ask how breaking everyone’s stuff would help it engender trust. And so claiming compliance without trust, as Facebook now finds itself trying to, really is the archetypal Sisyphean struggle.

16 Oct 2018

On-demand pharmacy startup NowRx raises $7 million Series A round through crowdfunding

NowRx, an on-demand pharmacy solution of sorts, just closed a $7 million Series A round via the SeedInvest crowdfunding platform. The company had previously raised a $3 million seed round.

As the on-demand industry flourished and NowRx co-founder Cary Breese surrounded himself with people from the pharmacy industry, Breese said it became clear to him that there was “no reason why [an on-demand pharmacy] can’t work.”

Launched in 2016, NowRx is a full-fledged on-demand pharmacy solution. Though, it’s technically more of an on-demand prescription medication startup that functions using what it describes as a virtual pharmacy. Since its launch, NowRx has delivered more than 50,000 prescriptions from 1,900 doctors. With 8,500 customers, NowRx does about $5 million a year in annual revenue.

NowRx, which is licensed to fill prescriptions in California and certified via the SureScripts pharmacy management software, enables doctors to electronically fill prescriptions for on-demand delivery in the San Francisco Bay Area (not, however, in the city of SF). Patients can then either request free same-day or one-hour delivery for $5.

With the additional funding, NowRx plans to expand outside of California late next year or early 2020. In order to do that, it will need to open new warehouses and pharmacy facilities.

Breese said he went the crowdfunding route because the terms are better, he didn’t have to give up a board seat, and there were no onerous entrepreneurial adverse terms.

16 Oct 2018

On-demand pharmacy startup NowRx raises $7 million Series A round through crowdfunding

NowRx, an on-demand pharmacy solution of sorts, just closed a $7 million Series A round via the SeedInvest crowdfunding platform. The company had previously raised a $3 million seed round.

As the on-demand industry flourished and NowRx co-founder Cary Breese surrounded himself with people from the pharmacy industry, Breese said it became clear to him that there was “no reason why [an on-demand pharmacy] can’t work.”

Launched in 2016, NowRx is a full-fledged on-demand pharmacy solution. Though, it’s technically more of an on-demand prescription medication startup that functions using what it describes as a virtual pharmacy. Since its launch, NowRx has delivered more than 50,000 prescriptions from 1,900 doctors. With 8,500 customers, NowRx does about $5 million a year in annual revenue.

NowRx, which is licensed to fill prescriptions in California and certified via the SureScripts pharmacy management software, enables doctors to electronically fill prescriptions for on-demand delivery in the San Francisco Bay Area (not, however, in the city of SF). Patients can then either request free same-day or one-hour delivery for $5.

With the additional funding, NowRx plans to expand outside of California late next year or early 2020. In order to do that, it will need to open new warehouses and pharmacy facilities.

Breese said he went the crowdfunding route because the terms are better, he didn’t have to give up a board seat, and there were no onerous entrepreneurial adverse terms.