Phil Funding, Investors & Competitors

Phil has raised $122M across 6 funding rounds, most recently a $56M Series D in June 2021.

See full Phil profile

Last Phil funding round

$56M

Series D · Jun 2021

Cumulative funding Phil raised

$122M

across 6 funding rounds

Key investors in Phil

  • Uncork Capital
  • Crosslink Capital
  • Tarsadia Investments
  • FJ Labs
  • SV Angel
  • Eniac Ventures
  • Forerunner
  • GreatPoint Ventures

Phil Overview

About Phil

Phil operates as a digital pharmacy platform headquartered in San Francisco, streamlining prescription fulfillment for retail and specialty medications through its hub-and-spoke model. The platform integrates prior authorization automation, a nationwide pharmacy network, and real-time visibility for prescribers and patients. Phil partners with brands like GoodRx and serves pharmaceutical companies handling chronic condition therapies. Launched in 2016, it processes scripts for conditions including HIV, hepatitis C, and growth hormone deficiencies across all 50 states.


Founded

2015

HQ

United StatesPhoenix, AZ

Website

phil.us

Status

Privately held

Customer focus

B2B

Revenue model

Commission, Subscription

Phil Funding History

Phil has raised a total of $122M across 6 funding rounds.

Phil's first fundraising round was a $2M seed round in August 2015. The most recent completed round was a $56M Series D in June 2021.

Phil funding rounds

Phil funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2021Series DWarburg Pincus (lead); Tarsadia Investments$56MPhil is a software therapy deployment platform and pharmaceutical IT company that provides a technology-powered, full-suite solution to disrupt the specialty drug delivery and hub services market. Pharmaceutical manufacturers use Phil’s technology and wholesale solutions to enhance market access for specialty drug launches, helping patients and providers navigate administrative requirements and manage drug delivery logistics. The platform streamlines complex workflows involving patients, prescribers, pharmacies, insurers, and manufacturers, driving up to 6x higher adherence, 33% improvements in patient affordability, and operations at 1/10th the cost of call-center approaches. On June 3, 2021, Phil announced a $56 million Series D funding round led by Warburg Pincus, with Tarsadia Investments also participating, as part of an arrangement for up to $100 million total investment. The funds enable Phil to accelerate development of innovative products and support customer growth, positioning it as the gold standard for pharmaceutical access, affordability, and distribution. Fred Hassan joined the board, and including prior rounds, Phil had raised over $100 million to date. Warburg Pincus highlighted Phil's emergence as a disruptor amid rising demand for cost-effective, tech-enabled solutions and the shift to specialty medications. Managing Director Andrew Park and Vice President Pranav Verma emphasized advancing Phil’s technology roadmap. CEO Deepak Thomas noted the investment recognizes six years of team commitment.
Mar 2021Series CTarsadia Investments (lead); GreatPoint Ventures; Uncork Capital; Crosslink Capital$23M-
May 2019Series BGreatPoint Ventures (lead); Uncork Capital; Tarsadia Investments; Crosslink Capital$25MPhil is a San Francisco-based startup providing an end-to-end technology platform for prescription management and delivery, connecting patients, prescribers, pharmacies, and manufacturers to address inefficiencies in the pharmaceutical supply chain, particularly for specialty drugs. The platform enables doctors to send prescriptions to Phil, which then handles insurance verification, delivery in 1-3 business days, and refills, accepting most commercial insurance plans. It works with over 36,000 doctors across all 50 states and aims to improve price transparency, fulfillment rates, and workflow automation for independent pharmacies. On May 15, 2019, Phil closed a $25 million Series B funding round led by GreatPoint Ventures, with participation from Tarsadia Investments, Crosslink Capital, and Uncork Capital. The funding is intended to hire technical talent and expand geographic footprint amid challenges in the prescription industry where specialty drugs represent a small volume but nearly half of prescription costs. GreatPoint Ventures managing partner Andrew Perlman highlighted Phil's novel approach to modernizing distribution and management of specialty drugs to improve access and affordability. Phil operates in a competitive landscape with players like PillPack (acquired by Amazon) and Alto Pharmacy (raised $50 million in December 2018), focusing on mailed medications and same-day delivery respectively. The company positions itself as a systemic solution rather than point fixes, targeting prescribers, patients, and pharmacies nationwide.
Aug 2017Series ACrosslink Capital (lead); Tom Williams; Eniac Ventures; Transmedia Capital; SV Angel; Forerunner; Silicon Valley Bank; Uncork Capital$10MPhil is a San Francisco-based end-to-end prescription management and delivery service that connects patients with local pharmacies via its website and mobile app. Founded in 2015, it automates communication between doctors, insurers, pharmacy staff, and patients to ensure timely refills and free delivery. Phil addresses drug adherence issues, which contribute to $100B-$300B in unnecessary U.S. medical costs annually, targeting patients taking multiple daily prescriptions. On August 16, 2017, Phil raised $10 million in a funding round led by Crosslink Capital, with participation from Eniac Ventures, Softtech VC, Forerunner Ventures, SV Angel, Silicon Valley Bank, and Transmedia Capital. The company worked with dozens of pharmacy partners and over 8,000 doctors nationwide, covering 95% of the U.S. population since November 2016. Customer prescription volume doubled from Q1 to Q2 2017 and continued accelerating, prompting plans to double staff by 2018 for improved service. Phil earned certification from the National Association of Board of Pharmacies, verifying its legitimacy and licensing for online pharmacies.
Nov 2016Series AFJ Labs; Heron Rock Fund; Proton Enterprises$6M-
Aug 2015SeedEniac Ventures (lead); Tom Williams; Jose Marin; SV Angel; David Rusenko; FJ Labs; Forerunner; Fabrice Grinda; Uncork Capital; Chris Sang$2M-

Who has invested in Phil?

18 investors have backed Phil across its funding rounds, including Uncork Capital, Crosslink Capital, Tarsadia Investments, FJ Labs, SV Angel and Eniac Ventures.

Lead investors include Warburg Pincus, Tarsadia Investments, GreatPoint Ventures, Crosslink Capital and Eniac Ventures.


Phil Investors

Investors in Phil by funding rounds participated
InvestorHQRoundsRoleFirst check
Uncork CapitalUnited StatesSan Francisco, CA4ParticipantAug 2015
Tarsadia InvestmentsUnited StatesLos Angeles, CA3LeadMay 2019
Crosslink CapitalUnited StatesSan Francisco, CA3LeadAug 2017
Tom WilliamsUnited StatesSan Francisco, CA2ParticipantAug 2015
Eniac VenturesUnited StatesNew York City, NY2LeadAug 2015
GreatPoint VenturesUnited StatesNew Haven, CT2LeadMay 2019
SV AngelUnited StatesSan Francisco, CA2ParticipantAug 2015
FJ LabsUnited StatesNew York City, NY2ParticipantAug 2015
ForerunnerUnited StatesSan Francisco, CA2ParticipantAug 2015
Jose MarinSpainMadrid1ParticipantAug 2015
Transmedia CapitalUnited StatesUnited States1ParticipantAug 2017
David RusenkoUnited StatesSan Francisco, CA1ParticipantAug 2015
Heron Rock FundCanadaOttawa1ParticipantNov 2016

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Phil Competitors

Phil competitors include listed companies like Waystar and Craneware, and private ones like Doctolib, Cityblock Health, Grow Therapy and eMed.

Public and private companies comparable to Phil
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
DoctolibFranceParisPrivate$400M-$6.4B16.0x
Cityblock HealthUnited StatesNew York City, NYPrivate--$5.7B-
WaystarUnited StatesUnited StatesPublicly listed$1.1B$390M$5.1B5.2x
Grow TherapyUnited StatesNew York City, NYPrivate$1B-$3B-
eMedUnited StatesMiami, FLPrivate--$2B-
CranewareUnited KingdomUnited KingdomPublicly listed$206M$59M$589M2.7x

Phil Public Comps

Phil is still privately-owned, but its public comps include IQVIA, Veeva, IDEXX Laboratories, Roper Technologies, GE HealthCare, Tenet Healthcare, ICON plc, Pro Medicus, United Imaging and Max Healthcare Institute.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
IQVIA$16B$3.4B3.6x3.4x17.2x14.8x
Veeva$3.2B$965M11.1x10.2x36.9x22.4x
IDEXX Laboratories$4.3B$1.5B9.5x8.9x27.1x24.9x
Roper Technologies$7.9B$3.2B6.1x5.7x15.2x14.6x
GE HealthCare$21B$3.7B1.8x1.8x10.1x10.0x
Tenet Healthcare$21B$4.5B1.7x1.6x8.1x7.5x
ICON plc$8.3B$816M1.9x1.9x19.2x11.3x
Pro Medicus$186M$147M66.6x62.7x84.4x77.6x

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Common questions about Phil

When was Phil founded?Phil was founded in 2015.
Where is Phil headquartered?Phil is headquartered in Phoenix, AZ, United States.
Is Phil publicly listed?No, Phil is a private, VC-backed company.
How much funding has Phil raised?Phil has raised $122M across 6 funding rounds.
What was Phil's last funding round?Phil's last funding round was a $56M Series D in June 2021, led by Warburg Pincus.
Who are Phil's investors?Phil's investors include Uncork Capital, Tarsadia Investments, Crosslink Capital, Tom Williams, Eniac Ventures, GreatPoint Ventures, SV Angel, FJ Labs, Forerunner, Jose Marin and 8 others.
Which companies are comparable to Phil?Companies comparable to Phil include Doctolib, Cityblock Health, Waystar, Grow Therapy, eMed and Craneware.

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