Helping to Secure $12M in Funding for a Health Tech Startup

Last-mile medication delivery services have been targeted by top logistics companies like Uber, Lyft, Instacart, and healthcare moguls like UnitedHealthcare. Despite billions of dollars invested in this space, the companies faced significant losses and ultimately decided to fold the initiative. When a new healthcare startup launched in March 2020 aimed to solve the last-mile description medication delivery services, in the midst of the COVID-19 pandemic, the founders faced skepticism from angel investors and early-stage funds. The primary concern was how the healthcare startup could succeed where well-funded competitors had failed.

When our team sat down with the healthcare startup’s founding team, we aimed to craft a compelling story for the investor materials. We identified that the key to overcoming investor skepticism was to highlight the mistakes of the healthcare startup’s competitors and emphasize how the healthcare startup’s founders, with their healthcare backgrounds, could navigate the challenges more effectively.

The On Top Strategy team developed a comprehensive package of investor materials, focusing on the following areas:

• Highlighting competitors’ mistakes and how the healthcare startup addresses them.
• Showcasing the dual aspects of the company: not only as a B2B last-mile prescription medication delivery company but also as a data company leveraging AI to track and collect critical data for enterprises, thereby increasing their quality metrics and adherence rates.
• Emphasizing the team’s healthcare background, which provides a deeper understanding of the healthcare and pharmacy business and a robust network of connections within large healthcare enterprise.
• Capitalizing on federal support for large enterprises by addressing medication adherence problems, as some pharmacies see 50% of medications never being picked up, and explaining how the healthcare startup solves this issue.