{"data":{"type":"company_profile","id":28012,"entity_id":"wefunder:company:28012","attributes":{"canonical_url":"https://wefunder.com/caryrx","generated_at":"2026-06-19T05:01:44Z","updated_at":"2026-06-19T05:00:09Z","entity_ids":{"company":"wefunder:company:28012","slug":"wefunder:company_slug:caryrx"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-19T05:01:44Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-19T05:00:09Z","as_of":"2026-06-19T05:01:44Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-19T05:00:09Z","as_of":"2026-06-19T05:01:44Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2026-06-18T21:40:22Z","as_of":"2026-06-19T05:01:44Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2026-06-18T21:40:22Z","as_of":"2026-06-19T05:01:44Z","confidence":"medium"}}},"company":{"id":28012,"entity_id":"wefunder:company:28012","slug":"caryrx","name":"CaryRx","tagline":"Tech Enabled, On-Demand Pharmacy with Free Same-Day Delivery","elevator_pitch":"Pharmacies are overdue for a digital upgrade. We're a full-service pharmacy in the palm of your hand that is reimagining the patient experience. Prescribers send us your prescriptions. Simply order them in our mobile app and watch them come to your door. We offer free delivery\u0026nbsp;in Washington D.C. via Postmates, and two-day shipping to Maryland and Virginia. With a lifetime value of $330 and 99% retention rate for our 1,400 patients, we are ready to expand CaryRx's operations.\u0026nbsp;","location":"washington, DC","website":"https://www.caryrx.com","total_amount_raised":157580,"total_investors":186,"is_funded":true,"is_active":true,"quality_score":3,"related_urls":["https://wefunder.com/caryrx","https://www.caryrx.com"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/28012/xxl_cropped_WeFunder_Video_Image_2-01.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/28012/large_cropped_CaryRx_Logo_White_w_Blue_Background-01-01.png","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/28012/standard_cropped_WeFunder_Video_Image_2-01.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/28012/standard_cropped_WeFunder_Video_Image_2-01.jpg"},"links":{"company_url":"https://www.caryrx.com","twitter_url":"http://twitter.com/caryrxinc","facebook_url":"http://www.facebook.com/caryrxinc","instagram_url":"http://www.instagram.com/caryrx","youtube_url":"https://www.youtube.com/channel/UC7pn5UffDh1DF-WsYz4wSDw"},"highlights":[],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"99%+ customer retention rate."},{"index":2,"claim_id":"claim-fact-2","value":"To date, filled 5k+ prescriptions\u0026nbsp;for over 1,400 patients.\u0026nbsp;"},{"index":3,"claim_id":"claim-fact-3","value":"First pharmacy to partner with Postmates to automate prescription delivery logistics."},{"index":4,"claim_id":"claim-fact-4","value":"Within 7 months of launching, annual revenue\u0026nbsp;run rate is nearly $500k.\u0026nbsp;"},{"index":5,"claim_id":"claim-fact-5","value":"Competitive advantage: we're the only on-demand pharmacy startup led by a pharmacist (9+ years experience).\u0026nbsp;"},{"index":6,"claim_id":"claim-fact-6","value":"Competitive advantage: We are the only pharmacy in the space currently offering both on-demand delivery and two-day shipping.\u0026nbsp;\u0026nbsp;"},{"index":7,"claim_id":"claim-fact-7","value":"Proprietary platform developed by a seasoned tech team, includes: fulfillment platform for pharmacy, iOS/Android mobile apps and mobile app for delivery team. The CaryRx platform was made ready to scale to multiple pharmacy locations.\u0026nbsp;"},{"index":8,"claim_id":"claim-fact-8","value":"Partners can grow with us as we scale: Postmates currently operates in 550 cities and McKesson (our drug supplier) is one of largest in the U.S.\u0026nbsp;"}],"team":[{"id":350059,"entity_id":"wefunder:company_role:350059","user_entity_id":"wefunder:user:193081","role":"employee","name":"Kevin Lance","title":"Head of Growth","bio":"Founder/CEO- Avido Mobile Accessories, Co-founder- Pinser, Expert in Business Development /Marketing","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/350059/square_cropped_square_cropped_Kevin_Lance_2.jpg?1544140961","profile_url":"https://wefunder.com/kevin.lance","personal_url":"http://caryrx.com","linkedin_url":"https://www.linkedin.com/in/kevin-lance-335244146/","related_urls":["https://wefunder.com/kevin.lance","http://caryrx.com"]},{"id":314648,"entity_id":"wefunder:company_role:314648","role":"employee","name":"Kaveh Abtahi","title":"Technologist / Part Time","bio":"Seasoned IT professional, Founder/Chair- IRS Blockchain working group, Leading IRS cloud strategy","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/314648/square_cropped_kaveh.jpg?1542085799","linkedin_url":"https://www.linkedin.com/in/kabtahi/","related_urls":[]},{"id":347577,"entity_id":"wefunder:company_role:347577","role":"employee","name":"Nima Negahban","title":"Board member / Angel Investor","bio":"CTO/Cofounder of Kinetica. Initial architect of IronNet. Successful start up track record.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/347577/square_cropped_nima.jpg?1542085799","linkedin_url":"https://www.linkedin.com/in/negahban/","related_urls":[]},{"id":347579,"entity_id":"wefunder:company_role:347579","role":"employee","name":"Adam Lowry","title":"Advisor","bio":"Pediatric Medical Director at Heal. Oversees Heal's expansion of on-demand medical care to DC.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/347579/square_cropped_adam.jpg?1542085799","linkedin_url":"https://www.linkedin.com/in/adamlowry/","related_urls":[]},{"id":347578,"entity_id":"wefunder:company_role:347578","role":"employee","name":"Gary A. Stewart","title":"Advisor","bio":"Regional Director at ClearScript. Former Assis. Director of Pharmacy UMMS.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/347578/square_cropped_gary.jpg?1542085799","linkedin_url":"https://www.linkedin.com/in/gstewart55555/","related_urls":[]},{"id":282044,"entity_id":"wefunder:company_role:282044","user_entity_id":"wefunder:user:168350","role":"founder","name":"Areo Nazari","title":"CEO and Founder","bio":"Pharmacy industry expert with bizDev/management experience. Doctor of Pharm. from Univ. of Maryland.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/282044/square_cropped_areo1.jpg?1542225480","profile_url":"https://wefunder.com/areonazari","personal_url":"http://www.caryrx.com","linkedin_url":"https://www.linkedin.com/in/areonazari/","related_urls":["https://wefunder.com/areonazari","http://www.caryrx.com"]}],"featured_investors":[{"id":4687,"entity_id":"wefunder:company_investor_profile:4687","investor_profile_id":214409,"investor_profile_entity_id":"wefunder:investor_profile:214409","subject_entity_id":"wefunder:user:194927","name":"Josh Fisher","bio":"I am the founder of District Partners, which is a national Executive Search and Consulting Firm, based in Washington, DC. Our portfolio of clients is largely comprised of growth stage firms that are PE/Venture Capital backed going through rapid expansion. We provide a specialized consultative approach to partner with these companies that are seeking to build and augment great teams. I am a native of the Washington DC area and has a passion for investing in early-stage companies and partnering with founders to help propel their growth.","avatar_url":"http://uploads.wefunder.com/uploads/user/avatar/194927/medium_cropped_linkedin_pic.jpg","profile_url":"https://wefunder.com/joshfisher2","is_lead_investor":true,"related_urls":["https://wefunder.com/joshfisher2"]}],"investor_memos":[],"tab_counts":{"posts":0,"ask_questions":39,"featured_investors":1,"faq_entries":5},"active_fundraises":[{"id":19432,"entity_id":"wefunder:fundraise:19432","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":250,"max_purchase":9,"funding_target":1070000.0,"minimum_target":"100000.0","maximum_target":"1070000.0","funding_started_at":"2018-11-10T02:39:51Z","funding_closed_at":"2019-04-21T04:01:35Z","auto_close_at":"2019-04-21T03:59:59Z"}],"latest_fundraise":{"id":19432,"entity_id":"wefunder:fundraise:19432","state":"successful","offering_type":"4(a)(6)","structure":"safe","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2018-11-10T02:39:51Z","funding_closed_at":"2019-04-21T04:01:35Z","terms":{"eb":null,"nb":"$6M","txt":"valuation cap"}},"recent_posts":[],"q_and_a":[{"id":330942,"entity_id":"wefunder:comment:330942","question":"Hey, Just wondering the status of our investment. I invested $2k in 3/2019, but have not heard anything in a few years.","author_name":"Gregory Bell","votes":1,"created_at":"2026-04-13T17:35:01Z","canonical_url":"https://wefunder.com/caryrx#question-330942","answers":[]},{"id":333163,"entity_id":"wefunder:comment:333163","question":"Hi Areo, Congrats on the acquisition!! https://www.prnewswire.com/news-releases/caretria-acquires-caryhealth-creating-an-industry-leading-direct-to-patient-pharmacy-platform-302764303.html . Of course interested in deal structure and valuation and what it means for our investment.","author_name":"Boudewijn Berendsen","votes":0,"created_at":"2026-05-06T20:48:57Z","canonical_url":"https://wefunder.com/caryrx#question-333163","answers":[]},{"id":114682,"entity_id":"wefunder:comment:114682","question":"Any new updates on this project? There hasn't been any recent posts.","author_name":"Donald Joshua","votes":0,"created_at":"2020-11-16T19:45:44Z","canonical_url":"https://wefunder.com/caryrx#question-114682","answers":[{"id":114836,"entity_id":"wefunder:comment:114836","answer":"Hi Donald, all investor updates are via our quarterly email updates. I see you're on the email list, check your spam folder for our latest update. We'll email you directly with a follow up.","author_name":"Areo Nazari","votes":0,"created_at":"2020-11-17T15:26:34Z"}]},{"id":92769,"entity_id":"wefunder:comment:92769","question":"Any updates or new company financials available? Was there a bump in service usage during the Covid-19 lockdown?","author_name":"Donald Joshua","votes":0,"created_at":"2020-06-08T22:33:35Z","canonical_url":"https://wefunder.com/caryrx#question-92769","answers":[]},{"id":70191,"entity_id":"wefunder:comment:70191","question":"Where does this project currently stand?","author_name":"Donald Joshua","votes":0,"created_at":"2019-12-01T20:47:09Z","canonical_url":"https://wefunder.com/caryrx#question-70191","answers":[{"id":70295,"entity_id":"wefunder:comment:70295","answer":"Hi Donald, all of our updates will be sent via email. Look out for the next update soon.\u0026nbsp;","author_name":"Areo Nazari","votes":0,"created_at":"2019-12-02T14:23:02Z"}]},{"id":55488,"entity_id":"wefunder:comment:55488","question":"Why there are no investor updates?","author_name":"Hozefa Moiyyadi","votes":0,"created_at":"2019-06-18T00:07:42Z","canonical_url":"https://wefunder.com/caryrx#question-55488","answers":[{"id":55525,"entity_id":"wefunder:comment:55525","answer":"Hi Hozefa, Thank you for question. We will be making quarterly Wefunder announcements with company updates. We have exciting news to share with you soon. Thank you!","author_name":"Kevin Lance","votes":1,"created_at":"2019-06-18T14:28:45Z"}]},{"id":50440,"entity_id":"wefunder:comment:50440","question":"Ok I just invested $1000 can the round be extended for a month so I can invest more","author_name":"Xavier Wilkins","votes":0,"created_at":"2019-04-19T21:43:12Z","canonical_url":"https://wefunder.com/caryrx#question-50440","answers":[{"id":50528,"entity_id":"wefunder:comment:50528","answer":"Hi Xavier, unfortunately we must close the round today as scheduled due to SEC requirements.","author_name":"Areo Nazari","votes":0,"created_at":"2019-04-20T14:38:07Z"}]},{"id":50431,"entity_id":"wefunder:comment:50431","question":"Investors who invest on wefunder have a chance to invest in the next round at a discount","author_name":"Xavier Wilkins","votes":0,"created_at":"2019-04-19T20:46:07Z","canonical_url":"https://wefunder.com/caryrx#question-50431","answers":[{"id":50438,"entity_id":"wefunder:comment:50438","answer":"Hi Xavier, our next investment will be a Series A round. The threshold to be given the right to invest in the next round (pro rata rights) is $25,000. Please keep in mind, the Series A will likely be composed of accredited investors only. Outside of the above, the best opportunity to invest at a discount as compared to the next round would be this seed round.","author_name":"Kevin Lance","votes":1,"created_at":"2019-04-19T21:34:55Z"}]},{"id":50427,"entity_id":"wefunder:comment:50427","question":"Will customers out of town be able to receive their prescriptions?","author_name":"Baron Huntington","votes":0,"created_at":"2019-04-19T19:59:48Z","canonical_url":"https://wefunder.com/caryrx#question-50427","answers":[{"id":50436,"entity_id":"wefunder:comment:50436","answer":"Hi Baron, If patient knows they will traveling, we work with them to fill their prescriptions before travel. In the event a patient is in need of medication while they are away from DC, MD, or VA, we will work with them to get their medication in a timely manner, including temporarily transferring to a pharmacy local to where they are, if needed.","author_name":"Kevin Lance","votes":1,"created_at":"2019-04-19T21:07:35Z"}]},{"id":44671,"entity_id":"wefunder:comment:44671","question":"This may have been stated somewhere and I simply missed it, but what plans do you have to expand outside of the DC area? Thank you.","author_name":"Jeff Podojil","votes":0,"created_at":"2019-04-12T01:03:02Z","canonical_url":"https://wefunder.com/caryrx#question-44671","answers":[{"id":44794,"entity_id":"wefunder:comment:44794","answer":"Hi Jeff, No worries, I am happy to answer this for you. Following our successful expansion in the DC metro area we will evaluate our next potential markets across the country. In order to offer same day delivery service, we will need physical locations in new markets. Prior to expansion to new markets we will be looking at expanding our service range with a 2 day shipping option across the country, as this can be quickly rolled out.","author_name":"Kevin Lance","votes":1,"created_at":"2019-04-12T19:28:30Z"}]},{"id":44630,"entity_id":"wefunder:comment:44630","question":"What is difference between this startup and NowRX?","author_name":"Jasmin Husic","votes":0,"created_at":"2019-04-11T20:28:50Z","canonical_url":"https://wefunder.com/caryrx#question-44630","answers":[{"id":44638,"entity_id":"wefunder:comment:44638","answer":"Hi Jasmin, NowRx is currently operating in the San Francisco area as a direct competitor and has seen excellent growth to date. We see a significant opportunity for every competitor to continue to grow as this is not a winner take all market. We also believe tech focused pharmacies will replace traditional pharmacies moving forward, but there are some differences between us and our competitors. Some key advantages between us and NowRx include:\u0026nbsp; - We are a pharmacist led company, which is crucial as we scale.\u0026nbsp; - We offer a vertically integrated platform and Postmates integration for automated/scalable delivery logistics.\u0026nbsp; - We’re the only pharmacy with a 2-day shipping option and will be expanding on this service as we grow the company.\u0026nbsp; - We have also compared our margin to NowRx who has published margins ranging from 15-23%. We have previously touched on our strong margin, which we have been able to maintain above 30% to date.\u0026nbsp; Thank you!","author_name":"Kevin Lance","votes":1,"created_at":"2019-04-11T21:06:15Z"}]},{"id":44191,"entity_id":"wefunder:comment:44191","question":"Where do you see yourself in 3-5 years? Do you believe you can be a billion dollar company at the point of time?","author_name":"Hozefa Moiyyadi","votes":0,"created_at":"2019-04-10T19:25:32Z","canonical_url":"https://wefunder.com/caryrx#question-44191","answers":[{"id":44662,"entity_id":"wefunder:comment:44662","answer":"Hi Hozefa, Thank you for the question. We believe we are primed for significant growth in the next 3-5 years and aim to expand our reach nationally through both same day and 2-day shipping. Without revealing too much, our roadmap is very focused on not only prescription delivery but also disrupting the pharmacy supply chain. So in short yes, we believe the opportunity before us is massive in this $400B+ industry.","author_name":"Areo Nazari","votes":1,"created_at":"2019-04-11T23:21:36Z"}]},{"id":42436,"entity_id":"wefunder:comment:42436","question":"the stocks and how to get paid out","author_name":"Cedric Thomas","votes":0,"created_at":"2019-04-07T01:55:35Z","canonical_url":"https://wefunder.com/caryrx#question-42436","answers":[{"id":43632,"entity_id":"wefunder:comment:43632","answer":"Hi Cedric, Thanks for your question. The investment is for future equity via a simple agreement for future equity. Future equity agreements are commonly utilized for high growth potential start ups and convert to shares/stock during a future round when shares are issued (priced round). At the time of the priced round, SAFE's will be converted and issued as shares to investors based on the valuation cap or discount. Your return will be realized via multiple scenarios: acquisition, IPO/secondary markets or future dividends. As mentioned before, our current goal is to focus on growth and as such, expect this to be a long term investment of at least 3-5 years.","author_name":"Areo Nazari","votes":0,"created_at":"2019-04-08T14:50:33Z"}]},{"id":40411,"entity_id":"wefunder:comment:40411","question":"Hi Areo, I'm interested in investing but am a larger investor and I risk running into the regulatory investor maximum under regulation crowdfunding. I would prefer to invest via a Reg D 506(c) offering or similar. Would you be open to something like this, and if so, could we discuss offline? (I would have contacted you directly but can't find an email)","author_name":"Skye Reed","votes":0,"created_at":"2019-03-30T21:04:21Z","canonical_url":"https://wefunder.com/caryrx#question-40411","answers":[{"id":40483,"entity_id":"wefunder:comment:40483","answer":"Hi Nicholas, Thank you for your question and interest. We would be happy to discuss this with you. Please email Areo and me at investor@caryrx.com and we can go over this in more detail. We look forward to speaking with you soon. Thanks again!","author_name":"Kevin Lance","votes":0,"created_at":"2019-03-31T02:34:35Z"}]},{"id":38365,"entity_id":"wefunder:comment:38365","question":"Once the SAFE's convert, do you intend to pay dividends?","author_name":"Craig J. Vom Lehn","votes":0,"created_at":"2019-03-21T21:14:55Z","canonical_url":"https://wefunder.com/caryrx#question-38365","answers":[{"id":38368,"entity_id":"wefunder:comment:38368","answer":"Hi Craig, thanks for the question.\u0026nbsp;Our primary goal will be growth in our early stages with a focus on top line revenue growth and future equity raises to fuel our momentum. While in our growth stage, we will likely not pay a dividend to maximize our opportunity to grow and create long term value for shareholders. With that being said, at later stages of our companies lifecycle, we will certainly re-evaluate\u0026nbsp;and consider a dividend when appropriate.\u0026nbsp;","author_name":"Areo Nazari","votes":0,"created_at":"2019-03-21T21:26:17Z"}]},{"id":37966,"entity_id":"wefunder:comment:37966","question":"Guys, thanks for the hard work on this idea! Can you please help me better understand the opportunity/businesses. My questions are as follows: 1) Can you please clarify how you make money--not sure this was mentioned earlier, but I am confused on who pays the company. 2) Is it fair to say that while Postmates partnership is great, it could also spell major trouble for the company? What if Postmates decides to stop tomorrow--what do you do? How are they paid/structure of payment? How long is the partnership? 3) How much money have you raised? On the top half of this page, we see ~102,000 funding from 98+ investors, but in the section right before INTERVIEWS, the number is much higher nearly $480,000. How does this affect the 22% discount for investors ? 4) In the limited info provided, the salaries are nearly 4x of the R\u0026amp;D and tech expenses--how is this budgeted for a primarily tech and R\u0026amp;D company to spend fraction of its budgeted expenses on it? Thank you!","author_name":"Shshank Karn","votes":0,"created_at":"2019-03-20T05:24:25Z","canonical_url":"https://wefunder.com/caryrx#question-37966","answers":[{"id":38011,"entity_id":"wefunder:comment:38011","answer":"Thanks for the question! -We make money through margin on medication sold. If a patient has an insurance plan, we make money via the patient copay and reimbursement on the backend from insurance plans. Through our enterprise model, which we recently rolled out, we would make money by charging a monthly recurring fee for our product as well as integration costs. -We are able to accommodate other delivery methods if Postmates was not a viable option in the future. Our platform can accommodate delivery by our own internal team if needed and we can also easily begin using external couriers. We intentionally built our platform to be flexible and have the infrastructure needed for multiple logistics options. -The Figure on the top of the page (~$102k) is the amount we have raised in this current round with WeFunder. The larger figure is the total amount of money raised for the life of the company. This will not effect the 22% discount as the discount takes effect on our first priced round for future equity disbursement. -The majority of our platforms development work will be handled through our staffing budget (engineering team) while R \u0026amp; D will be designated for future projects on our roadmap. So when considering the development of our product, budgeted funds from staffing will be utilized. Thanks again for the questions, hope to have you on board as an investor.","author_name":"Areo Nazari","votes":0,"created_at":"2019-03-20T18:39:41Z"}]},{"id":36291,"entity_id":"wefunder:comment:36291","question":"Hello! I am very interested in the investment opportunity but have a few questions. The first being the most important but the most broad: What would you say is your competitive advantage and is it maintainable? It seems like you guys are broadcasting free delivery and same day delivery as your competitive advantage but whats the hold on that? As mentioned below, anyone can switch to deliver for free, maybe even cheaper then you guys if they are large enough to hold economics of scale. Also, is same day/free delivery achievable nationwide while being financially feasible?","author_name":"Joe S","votes":0,"created_at":"2019-03-06T19:07:54Z","canonical_url":"https://wefunder.com/caryrx#question-36291","answers":[{"id":36418,"entity_id":"wefunder:comment:36418","answer":"Hi Joe, Thank you for your question. Some key advantages we touched on previously: -We are the only pharmacist led company, domain knowledge is crucial as we scale. This has been proven to be essential over and over, especially with healthcare startups. -Vertically integrated platform and Postmates integration for automated/scalable delivery logistics. -Only on-demand pharmacy with 2-day shipping option, we will be expanding on this service as we grow the company. The most crucial of the above being our proprietary backend and delivery integration. We are made to be operationally efficient which will give us an edge as we scale. Replicating this is easier said than done. There is value in having a proprietary tech stack that accommodates our operation and as such we have had great interest in from established pharmacy chains and hospital systems in licensing our platform. As far as competitors being cheaper, copays are typically the same across all pharmacies. Our cash prices are already typically lower than CVS or Walgreens. Each same day operation will be able to maintain profitability as we scale our business. On a unit economics basis, our current orders are profitable at our current location. As we scale our business to primary and secondary markets, we see no reason we cannot continue this trend.","author_name":"Areo Nazari","votes":0,"created_at":"2019-03-07T20:55:26Z"}]},{"id":34371,"entity_id":"wefunder:comment:34371","question":"Hi! I think the concept of mailing prescriptions is an intriguing one especially for those that do live in cities or have a lot of medications that need to get renewed. But what about people that don't live in cities that will likely only need medications when they need to combat a sickness? How does your business model work if the shipping is free for two days? Do users have to pay a subscription fee on the app? And if so, how much is it? Is it worth paying the subscription fee over the cost of shipping if you only get one prescription a year? The main thing I would like to understand is how does CaryRx make money, and who is the app made for. And would a generally healthy young person such as myself that rarely gets prescriptions find a need for this service if you become big and move outside the D.C. area?","author_name":"Alexander Bouffard","votes":0,"created_at":"2019-02-02T22:19:23Z","canonical_url":"https://wefunder.com/caryrx#question-34371","answers":[{"id":34449,"entity_id":"wefunder:comment:34449","answer":"Hi Alexander, Thanks for your question. With our Postmates partnership, we offer free same-day delivery covering all of Washington, D.C. For Maryland and Virginia, we offer free two-day shipping via USPS. There are never any subscription fees or additional costs added to medication orders. Patients have the same co-pay as any other pharmacy. As in any other business, we make money through margin. In our case, it’s the cost to acquire the medication vs. reimbursement from insurance / sale price. We maintain a strong margin (~ 33% vs. industry average of 23%) by targeting higher value prescriptions and actively using multiple wholesalers to obtain medications at the lowest possible acquisition cost. And, we don’t have the same overhead as a traditional retail pharmacy. We’re streamlined for efficiency and because of this, we’re able to absorb the cost of delivery / shipping. Our typical customer is someone who lives in an urban setting, has a busy lifestyle, and wants easy access and convenience. We’ve seen a great response from millennials and from the 65+ community. While you are correct that the 65+ group is more likely to have more medications, the pain point of a poor brick and mortar experience exists regardless of the demographic. As an example, we’ve found for those who move from Washington D.C. to MD or VA continue to use CaryRx as their primary pharmacy. We offer a hassle free pharmacy experience at no additional cost. As many of our customers have told us, using CaryRx as their pharmacy is a “no-brainer”. We look forward to having you on-board as an investor. Thank you!","author_name":"Areo Nazari","votes":0,"created_at":"2019-02-04T16:42:27Z"}]},{"id":34296,"entity_id":"wefunder:comment:34296","question":"Hello there, Saw the press release regarding the enterprise platform, do you mind quickly explaining that business model and how you plan to make profit on that? In addition, do you guys have a deadline for this fund raising? Thanks. Junchao","author_name":"Junchao Shangguan","votes":0,"created_at":"2019-01-31T21:51:45Z","canonical_url":"https://wefunder.com/caryrx#question-34296","answers":[{"id":34336,"entity_id":"wefunder:comment:34336","answer":"Hi Junchao, Thanks for your question. We’re happy you saw our most recent press release! Over the past year, we’ve been approached by multiple hospital systems about utilizing our software in their pharmacy workflow. We couldn’t ignore the demand and decided to move forward with the opportunity to license our software and create CaryEnterprise, a turnkey white labeled solution to modernize any pharmacy. Licensing our software is an opportunity to scale faster while choosing which markets we allow our platform to be utilized in. At a high level, this is growth while not disrupting our core business. The business model would be similar to other enterprise/SaaS offerings with a monthly subscription fee as well as smaller transactional costs per order. There is nothing like the CaryEnterprise software on the market and we believe our software solves many of the on-going pain points that current pharmacies and hospital systems face. As for our raise, while we don’t have an exact date, we plan to close the round in spring 2019. Thanks again for your question and we look forward to having you onboard as an investor.","author_name":"Kevin Lance","votes":0,"created_at":"2019-02-01T19:15:07Z"}]},{"id":34272,"entity_id":"wefunder:comment:34272","question":"Walgreens already has a relationship with Postmates (https://postmates.com/brand/walgreens). What is to stop them from copying your app (which they have billions of free capital to easily deploy to do), and leveraging this same delivery model? A lot of your answers seem to suggest that your just going to offer better customer service, slick branding, etc. But good businesses have value propositions that transcend their Founders and leadership. What happens if your leadership was in an accident? Is my investment secured because you have some type of intellectual property, patent, or other trade secrets that differentiate yourself from the 800-lb gorillas in the room?","author_name":"John Smith","votes":0,"created_at":"2019-01-31T16:42:42Z","canonical_url":"https://wefunder.com/caryrx#question-34272","answers":[{"id":34334,"entity_id":"wefunder:comment:34334","answer":"Hi John, thank you for your question. Yes, CVS and Walgreens do have a relationship with Postmates that allows for the pick up and delivery of merchandise and over the counters. Delivering prescriptions is a more challenging effort from both a tech infrastructure and operational perspective. So while it can be done, it will take a major shift in their current operation to properly execute an on-demand model. Much easier said than done. A great example is the poor version of PillPack CVS has rolled out. With that being said, we welcome larger players to offer on-demand mobile delivery as it will help educate the market and drive SEO for pharmacy delivery, which we are currently trending well for in our market. Currently one of our largest costs is customer acquisition as SEO/google trends for pharmacy delivery are still quite low in relation to other industries, such as food delivery. A larger player would help shift a patients mentality to seek mobile delivery once acquiring a prescription as opposed to going out of their way to a brick and mortar pharmacy. A key point to consider- the on-demand pharmacy market is in its infancy as total revenues have not come close to surpassing $1B annually. Keep in mind, there is over $150B in total retail pharmacy revenue annually. There will be significant growth in this space in the coming years with a shift of consumer mentality towards expecting mobile first pharmacy experiences. Our competitive advantages are focused around operational efficiency, which in turn creates an amazing patient experience through our mobile app. While customer service is a result of policy, patient experience is the result of our proprietary backend platform and operational superiority.","author_name":"Areo Nazari","votes":0,"created_at":"2019-02-01T19:08:14Z"}]},{"id":33393,"entity_id":"wefunder:comment:33393","question":"What stoping existing companies from just implementing same or 2 day shiping?","author_name":"Nicholas Peterson","votes":0,"created_at":"2019-01-15T18:13:42Z","canonical_url":"https://wefunder.com/caryrx#question-33393","answers":[{"id":33499,"entity_id":"wefunder:comment:33499","answer":"Hi Nick, Thanks for your question. Pharmacy delivery has existed for many years with both major chains and independent pharmacies. The experience however is significantly lacking and the inefficiencies are glaring as compared to our platform and experience. Our experience is unparalleled and “wows” our patients, which has lead to a high customer retention rate. While we have addressed the possibility of competition from the incumbents, in the end we believe we will outcompete them because delivery is our specialty and focus. A great example is PillPack out competing CVS’s attempt to offer the same service.","author_name":"Kevin Lance","votes":0,"created_at":"2019-01-17T18:44:19Z"}]},{"id":32835,"entity_id":"wefunder:comment:32835","question":"I'm interested to know why you did not list nowrx on your comparison chart, they seem to be taking a very similar approach.","author_name":"Damian Amajoyi","votes":0,"created_at":"2019-01-06T21:11:38Z","canonical_url":"https://wefunder.com/caryrx#question-32835","answers":[{"id":32936,"entity_id":"wefunder:comment:32936","answer":"Hi Damian, Thanks for your question. At the time of chart creation, we wanted to compare CaryRx to the top 3 on-demand startups as far as funding (Capsule, Alto, and NimbleRx). We’ll consider adding NowRx to the comparison chart as well.","author_name":"Kevin Lance","votes":1,"created_at":"2019-01-08T00:38:10Z"}]},{"id":32573,"entity_id":"wefunder:comment:32573","question":"Hi Areo, Thanks for your answers. Additional questions below. 1. Revenues have not grown for the first three quarters of 2018. This is concerning considering your competitors (e.g. NowRx, Nimble Rx) have shown considerable growth in their respective markets at your current stage. Please comment on this lack of growth. 2. Congrats on the new home health care deal. Will this customer order drugs directly from CaryRx? Or will they recommend CaryRx to their patients? 3. Please provide more detail regarding the physical pharmacy operations. Who/How are prescriptions filled before being picked up by a Postmate driver? How many people are working at the pharmacy? 4. Regarding your metric comparisons against industry averages (e.g. gross margin), are you using brick and mortar averages (CVS) or startup averages (e.g. NowRx)?","author_name":"Jeff Park","votes":0,"created_at":"2018-12-31T17:02:19Z","canonical_url":"https://wefunder.com/caryrx#question-32573","answers":[{"id":32632,"entity_id":"wefunder:comment:32632","answer":"Hi Jeff, 1. NimbleRx raised a significant round of funding ($12M) at time of launch and NowRx with a pre-seed of $1M with more funds quickly thereafter (over $7M to date). We raised a pre-seed of roughly $400k to build out our platform and launch to gain initial traction. We did not project to grow substantially without a significant marketing budget, as such, much of our initial growth has been via partnerships. So this is not concerning to us given where we are in our funding life cycle. We will be looking for consistent quarter to quarter growth as we roll out a large scale marketing campaign post our seed round. With our metrics being extremely strong, we are expecting sustainable growth going forward while maintaining low overhead. 2. The home health care deal is a joint venture with the company to provide clinical, concierge and prescription services through a subscription model. Our partner will be marketing the service to their patients and we will be providing direct service to registered patients. More information will be released as we progress with the partnership. 3. Prescriptions are filled much like a standard pharmacy operation, however workflow is streamlined with our proprietary platform to ensure quick and efficient order fulfillment. Each order goes through our work flow cycle, which also provides order tracking for patients. When orders are ready to be delivered, a Postmates driver is automatically summoned via the Postmates API web hook. We scale our pharmacy team as needed to handle volume, which is composed of pharmacist and pharmacy technicians. We are currently utilizing mostly part time staff as needed until our volume demands full time staffing. 4. We have compared our metrics to both industry standards and start ups. Industry averages are referring to retail pharmacies across the country. We have also compared our margin to NowRx, who published margins ranging from 15-23%. We have previously touched on our strong margin, which we have been able to maintain above 30% to date.","author_name":"Areo Nazari","votes":0,"created_at":"2019-01-02T15:35:30Z"}]},{"id":32510,"entity_id":"wefunder:comment:32510","question":"Can you please provide recent month-to-month or quarter-to-quarter growth numbers for revenues and prescriptions? Also, how do you plan to scale and grow in the DC area and nationwide? Which cities do you plan expanding to in the next couple years? Do you plan to open a pharmacy in each location?","author_name":"Jeff Park","votes":0,"created_at":"2018-12-29T03:57:35Z","canonical_url":"https://wefunder.com/caryrx#question-32510","answers":[{"id":32520,"entity_id":"wefunder:comment:32520","answer":"Hi Jeff, Quarterly numbers are below. We are anticipating our next big jump in revenue/volume to come towards the end of Q1 in 2018 as we recently closed a deal with a home health care company that we anticipate will provide a significant boost to our top line. After closing this round of funding we will ramp up our marketing efforts. Currently we are relying on organic growth and founding team led sales. Our DC location is ready to substantially scale up operations. We plan to use capital raised in this round for marketing in the DC market. Further, we will continue to push partnerships as a means of sustainable growth. With $7B of prescription revenue in DC, MD and VA, we believe there is a substantial opportunity for growth before considering alternative markets. With that said, our next physical locations will likely be in northern VA and Maryland to increase efficiency and same day range. Following our successful expansion in the DC metro area we will evaluate our next potential markets across the country. In order to offer same day delivery service, we will need physical locations in new markets. Prior to expansion to new markets we will be looking at expanding our service range with a 2 day shipping option across the country, as this can be quickly rolled out. Q4 2017 932 Rx’s filled $50,930 Revenue Q1 2018 1,308 Rx’s filled $98,694 Revenue Q2 2018 1,163 Rx’s filled $102,678 Revenue Q3 2018 1,067 Rxs filled $98,215 Revenue","author_name":"Areo Nazari","votes":0,"created_at":"2018-12-29T19:04:21Z"}]},{"id":32021,"entity_id":"wefunder:comment:32021","question":"Thanks for the great answers. I have a question on margin. Could you elaborate a bit on why your margin is significantly higher? I guess NowRx and other competitors partner with McKesson (or other wholesaler) as well, are you able to get lower pricing from them, or sell at average higher price? In addition, how quick do you think the competitors are able to ramp up integrating their backend? Thanks, Shawn","author_name":"Junchao Shangguan","votes":0,"created_at":"2018-12-17T19:36:39Z","canonical_url":"https://wefunder.com/caryrx#question-32021","answers":[{"id":32048,"entity_id":"wefunder:comment:32048","answer":"Hi Junchao, thank you for the questions. -Our Margin is strong due to specific sales and operational strategies/practices we have in place. At a high level, it revolves around targeting higher value prescriptions by utilizing healthcare provider prescribing data we have available to us. Second we do not rely solely on Mckesson as our primary wholesaler and actively use multiple wholesalers to obtain medications at the lowest possible acquisition cost. These strategies have allowed us to maintain an extremely strong margin. -Previously touched on competitors integrating their backend and delivery logistics: Our platform and Postmates integration certainly is key for us as we move forward as it makes logistics extremely lean and streamlined. While it’s tough to put a specific time frame needed to complete a similar platform and partnership, the main challenge would be establishing a partnership with a company like Postmates and corresponding internal workflow. We are fortunate to be Postmates first and only prescription delivery partner via their API. Postmates on their part has said no to other pharmacies as partners.","author_name":"Areo Nazari","votes":0,"created_at":"2018-12-18T16:11:10Z"}]}],"faq":[{"question":"Are you guys selling shares on Wefunder I go on there website and I don’t see the company","answer":"Hi Xavier, the campaign actually has not begun yet but we will be live later this week. Once we are live, the campaign will show up on WeFunders main page. The raise will be for future equity via a SAFE note. Let us know if you have any other questions!"},{"question":"Please contact me, Thank you. Interested in a substantial investment.","answer":"Updated: Hi Rick, we received your email address from WeFunder and have sent you a message. Thanks!"},{"question":"You mention your comparison to Nowrx in one of your charts but do not compare to them in the following chart. What are your competitive advantages/ differences ?","answer":"Hi Michael, thanks for your question. I’ll touch on our competitive advantages.\u0026nbsp;Our fulfillment platform which powers our backend\u0026nbsp;is truly vertically integrated from top to bottom. Key features of our platform: -Synchronized legacy and proprietary platform. This increases efficiency and speed of order fulfillment while preventing errors and lost prescriptions. -Automated delivery logistics via the Postmates API provides a scalable delivery solution. Eliminating the need for our team..."},{"question":"Hi Areo! Congrats on the progress made to date. How much of a headstart does your vertically integrated fulfillment platform and integration / partnership with Postmates give you? In other words, how difficult and / or how long would it take for a competitor to do the same? Th...","answer":"Hi Kevin, thank you for your question and support! Our platform and Postmates integration certainly is key for us as we move forward as it makes logistics extremely lean and streamlined. While it’s tough to put a specific time frame needed to complete a similar platform and partnership, the main challenge would be establishing a partnership with a company like Postmates and corresponding internal workflow. We are fortunate to be Postmates first and only prescription delivery partner via their..."},{"question":"Hi Areo. Can you elaborate on what mail order contracts you have in place for the two-day shipping option?","answer":"Hi Nicholas, thank you for your question. Currently our contracts are retail based as our business is currently focused solely on the DC metro area. As we expand the business and our footprint, we will seek contracts and state pharmacy licenses accordingly."}]}}}