Alto Pharmacy – Company Profile

Alto is a leading digital pharmacy platform that allows patients easy access to prescription medicines. Alto Pharmacy was launched in 2015 and is headquartered in San Francisco, California. Alto had made things really easy for patients, as they do not need to step out of their homes to get medicines. Alto runs same-day medicine delivery services, seven days a week.

Patients have the option to choose the time of delivery, as per their convenience. Apart from San Francisco, Alto delivers across other cities such as Los Angeles and Orange County, San Diego, Denver-Boulder Metro Area, Las Vegas, Seattle, New York City Metro Area, Houston, Dallas-Fort Worth Metro Area, Austin, Sacramento and Santa Barbara.

Another USP of Alto is that patients have free access to pharmacist. They can be consulted via Alto app, phone or text. Pharmacists are also available for high-touch service and patient guidance in cases requiring specialized care. This service is best utilized for in between doctors’ visits. Alto is preferred for its transparent and affordable pricing of medicines. Till date, Alto has helped patients benefit from $53 million worth of prescription savings.

History

To be able to launch a patient-friendly pharmacy, the founders decided to first understand the reasons why family-run neighborhood pharmacies are preferred. They started tracking down and spending time at these pharmacies, which provided vital clues about their popularity.

Among the key things they noticed was the high level of personal interactions that took place at these pharmacies. The experience for patients was more like a social interaction, instead of just a visit to buy medicines. This apparently helped build trust and confidence. The founders included the same level of social tenets when they launched Alto Pharmacy in 2015.

Funding

Alto pharmacy has received investments worth $560 million via seven rounds of funding. Some of the key investors include Softbank Vision Fund, Greenoaks Capital, Olive Tree Capital, Zola Global and Jackson Square Ventures. In 2020, Alto Pharmacy secured Series D funding, whereupon its valuation crossed $1 billion.

Acquisitions

Alto Pharmacy had acquired Round Health in 2017. Round Health is an app-based platform that helps patients remember the medicines they take every day.

Competitors

Alto Pharmacy competes with other online pharmacies such as Capsule, NowRx and PillPack.

About the Founders

Alto Pharmacy was founded by Mattieu Gamache-Asselin and Jamie Karraker. Mattieu’s educational qualifications include BASc, Software Engineering + Biomedical from University of Ottawa. Prior to founding Alto Pharmacy, he had worked with companies such as Adobe Systems and Facebook. Co-founder Jamie Karraker currently serves as the Co-CEO of Alto Pharmacy. He is an alumnus of MIT and has worked with companies such as Facebook.