Atento Capital Leads Series A Round for Tulsa-based Medication Adherence Company to Fuel National ExpansionTULSA, Okla., Aug. 30, 2023 /PRNewswire/ -- PatchRx , a medication management startup based in Tulsa, OK, has announced that it has raised $8 million in a Series A funding round. The first-of-its-kind smart pill bottle cap prioritizes patient well-being by using data-driven technology to enhance prescription adherence and support patients in their medication management.PatchRx Smart Pill CapThe round was led by Atento Capital joined by Vast Ventures , Cortado Ventures , Forum Ventures , and Plains VC . It brings the total capital raised to date to $15 million as part of an accelerated period of growth in which PatchRx expanded from a team of 10 to 80+ employees and reached $4 million in revenue in just 12 months.PatchRx's patented technology has been deployed in over 40 clinics across the US from Alaska to New Jersey. In 2022, PatchRx became the first vendor to offer a medication adherence platform under new Medicare RTM billing codes, creating a unique opportunity to engage various stakeholders of healthcare simultaneously. PatchRx is on track to also deploy its technology beyond pain management: in clinical trials, where drug efficacy results are often inadvertently distorted by unreported non-adherence, and in psychiatric markets, an area in which high-risk medications taken off schedule can often have severely detrimental effects on patient outcomes.PatchRx was co-founded in 2018 by Andrew Aertker and Gavin Buchanan, then students at Trinity University in San Antonio, each motivated by personal connections to medication adherence: Gavin's grandfather died due to non-adherence, and Andrew's firsthand experience managing medication after his cancer diagnosis

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