House Rx raises $55M in Series B funding. House Rx, a San Francisco, CA-based health tech company focused on making specialty medications more accessible and affordable for patients, raised $55M in Series B funding. The round was led by New Enterprise Associates (NEA) and Town Hall Ventures and included participation from LRVHealth, First Round Capital, Bessemer Venture Partners, and Silicon Valley Bank. The company intends to use the funds to expand its in-clinic specialty pharmacy model. Led by CEO Ogi Kavazovic, House Rx is a technology-enabled pharmacy services company focused on making specialty medication more accessible and affordable. it helps clinics dispense specialty medications to their patients in a medically-integrated way using pharmacist expertise and modern technology. By helping physicians and pharmacists collaborate on patient care, the company is able to improve patient outcomes, lower the cost of care, and create a better experience for patients and their caregivers. To date, House Rx has partnered with more than 1,000 providers at 80 clinic sites nationwide, helping them stand up and successfully operate in-house pharmacies that deliver better outcomes for patients. It processes approximately $1.5 Billion in specialty scripts per year, with that volume expected to increase to $3 Billion by the end of 2026.

House Rx raises $55 million in Series B led by NEA and Town Hall Ventures. House Rx, a health tech company focused on making specialty medications more accessible and affordable for patients, today announced it has raised $55 million in Series B equity and debt to expand its in-clinic specialty pharmacy model. The financing was led by New Enterprise Associates (NEA) and Town Hall Ventures and included participation from LRVHealth, First Round Capital, Bessemer Venture Partners, and Silicon Valley Bank. This new investment brings the company's total capital raised to date to $100 million. At a time when regulators and states are actively challenging the Pharmacy Benefit Manager (PBM)-owned, closed network specialty pharmacy model, House Rx offers an alternative vision - a nationwide network of locally owned, brick-and-mortar specialty dispensaries embedded in specialty clinics. The model puts patients and providers at the center and delivers vastly superior quality outcomes. By partnering with specialty clinics to integrate pharmacy services directly into care delivery, House Rx enables providers to offer high-touch, local alternatives to centralized pharmacy fulfillment models. This approach improves coordination between providers and pharmacists, reduces administrative complexity, and delivers better outcomes for patients dealing with complex conditions. "There's finally momentum behind creating a specialty pharmacy system that makes it easier for patients to seamlessly and more affordably access the medications they desperately need," said Ogi Kavazovic, CEO & Founder of House Rx. "We're seeing interest from stakeholders across the healthcare system - healthcare providers, manufacturers, payers, investors, and certainly employees who all recognize the opportunity to finally challenge the status quo in specialty pharmacy. We all want to do better by patients and help bring down the overwhelming expense to our healthcare system. With the support of this funding, we're ready to scale operations to meet the exploding demand." To date, House Rx has partnered with more than 1,000 providers at 80 clinic sites nationwide, helping them stand up and successfully operate in-house pharmacies that deliver better outcomes for patients. House Rx processes approximately $1.5 billion in specialty scripts per year, with that volume expected to increase to $3 billion by the end of 2026. "Specialty pharmacy is one of the highest-cost and least-transparent segments in healthcare and one that's long overdue for change for the betterment of our healthcare system," said Blake Wu, Partner at NEA. "NEA's history of investing within specialty pharmacy and working with industry leaders in the category provides unique insight into its challenges, and we believe House Rx has an incredibly exciting vision to make a lasting change in this industry. The House Rx team is top notch, with a unique combination of specialty pharmacists and software builders working together to bring a new technology and service offering to market, making it cost effective for clinics to deliver complex specialty pharmacy services to their patients. We believe this model has the potential to change the landscape of specialty pharmacy for years to come." House Rx is the pharmacy management system of record for medically integrated dispensaries or pharmacies, and it comes with natively-embedded AI workflows. The tech platform is essential to driving the efficiencies and economies of scale required to succeed in this new model of local, decentralized pharmacy care. In April, House Rx announced their "Smart PA" AI feature, making prior authorizations in pharmacy 80% automated. The company is currently investing in several more AI capabilities which will come natively as part of its pharmacy management system. "The House Rx platform blends software with clinical services, so patients start life-saving treatments in days, not weeks. With the need for improved patient access and adherence to medications, solutions like House Rx have never been more urgent," said David Whelan, Co-Founder and General Partner at Town Hall Ventures. "We're thrilled to support Ogi and his team of repeat healthcare and technology entrepreneurs in their mission to put providers and patients back in the center of the specialty pharmacy experience." About House Rx House Rx is a technology-enabled pharmacy services company focused on making specialty medication more accessible and affordable. The company helps clinics dispense specialty medications to their patients in a medically-integrated way using pharmacist expertise and modern technology. By helping physicians and pharmacists collaborate on patient care, House Rx is able to improve patient outcomes, lower the cost of care, and create a better experience for patients and their caregivers. Founded in 2021, House Rx is approaching 250 employees and was recently recognized by Time Magazine as one of the World's Top HealthTech Companies of 2025. About NEA New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. Founded in 1977, NEA has over $25 billion in assets under management as of June 30, 2023 and invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions. About Town Hall Ventures Started in 2018 by former Optum Group Executive Vice President and head of the Centers for Medicare and Medicaid Services and Senior White House Advisor Andy Slavitt and long-time investor and company-builder David Whelan, Town Hall Ventures invests in companies that transform access and equitable care for underserved Americans. Its aim is to deliver top-quartile financial results by finding and scaling models that improve outcomes in communities left behind by the United States healthcare system. To date, Town Hall has started or invested in 42 companies, with 8 of the first 16 investments valued at over $1 billion.

SAN FRANCISCO, July 31, 2023 (GLOBE NEWSWIRE) -- The Oncology Institute (NASDAQ: TOI) and House Rx announced today that they have entered into a multi-year relationship that will integrate House Rx’s specialty medication dispensing model to operate and manage TOI’s clinic and pharmacy locations in multiple markets.House Rx provides clinics with specialized technology and services support from pharmacists and care coordinators. House Rx staff are integrated with the clinic to help patients start therapy as quickly as possible and drive adherence to treatment for better outcomes.TOI’s alignment with House Rx will expand patient access to oral specialty medications via TOI dispensary and pharmacy locations, and enhance in-office dispensary operations. The relationship will further enable TOI to provide convenient and affordable access to value-based therapies for patients as part of its comprehensive community-based care model.“By partnering with House Rx, we will accelerate the growth of our clinic-based oral drug dispensing capabilities and improve our ability to add pharmacy locations in California and Texas that will allow us to access patient populations that we previously could not serve,” said Dr. Daniel Virnich, CEO of The Oncology Institute. “We see this as one of the key drivers of our growth in upcoming years.”"With TOI, we have an innovative partner that cares deeply about delivering value-based care in the community setting," said Tesh Khullar, President and Co-Founder of House Rx. "By adopting our dispensing services and technology, TOI will strengthen their value-based care offering by ensuring more patients can access their specialty medications and receive the best possible outcomes from their treatments.”About The Oncology Institute, Inc.Founded in 2007, TOI is advancing oncology by delivering highly specialized, value-based cancer care in the community setting