HBC e-commerce company Pharmapacks raises $32.5M
E-commerce company Pharmapacks has brought in $32.5 million by selling a minority stake at an undisclosed valuation in a strategic round led by Reckitt Benckiser. Additional investments in the round came from McKesson Ventures, Sealed Air and the Emerson Group.
Islandia, N.Y.-based Pharmapacks said that its proprietary platform allows brands to reach consumers with a complete solution that includes logistics, fulfillment, marketing and sales components. Pharmapacks selles direct-to-consumer through such sites as Amazon and Walmart.com, as well as on its own website. The company touted its ability to offer emerging brands access to its consumer base, enabling brands to focus on product research and development. Pharmapacks said it strategically sets competitice price points and builds a connection between shoppers and the brand.
“We are excited to see Pharmapacks growing at a rapid pace, especially in an ecosystem monopolized by big e-commerce players,” said Andrew Vagenas, CEO of Pharmapacks. “The fundraising, together with the associated partnerships, will enable us to scale operations both domestically and internationally as well as serve our customers in an even more efficient and cost-effective manner, while expanding the number of brands we can support with our unique logistics/e-distribution capabilities.”
Pharmapacks said it would use the dunding to increase its 350-person employee base by 20% and scale its current warehouse, as well as further its automated technology and expand inventory levels and delivery reach to Europe, Asia and beyond.
“With ecommerce becoming a leading driver of growth for our brands like Enfamil, Lysol, Mucinex and Airborne, we are excited to partner and invest with Pharmapacks,” said Nitish Kapoor, executive vice president, North America, RB. “We believe that this partnership will help both companies serve our online shoppers better and grow at an even faster pace.”
Pharmapacks started seven years ago at a Bronx-based independent pharmacy. After building out its e-commerce, logistics and fulfillment software to easily integrate into existing sales platforms, the company now has a 28,000-item catalog and ships more than 30,000 orders daily.
“The Emerson Group is pleased to partner with Pharmapacks. With a shared commitment to excellence in providing our clients industry-leading capabilities and cutting-edge logistics technology, we can deliver the efficiency that is so vital to success in these challenging retail times,” said Scott Emerson, CEO of The Emerson Group. “Our alignment with Pharmapacks will help us deliver increased consumer exposure to our client brands resulting in the brand growth which is the core of our corporate mission.”
Pharmapacks’ in-house tech team is dedicated to building automated assistance tools to better streamline the fulfillment process. Its partnership with Sealed Aid is aimed at improving its throughput and reducing deployment time while cutting down on excess air and wasted space in a package..
“In addition to enhancing the consumer experience upon delivery, Sealed Air and Pharmapacks are having a positive impact on the environment by eliminating excess packaging waste, and nearly eliminating the risk of damage during transit," said Ken Chrisman, President of Sealed Air's Product Care division. “Pharmapacks shares our commitment to use technology and data to solve fulfillment complexities. Through the upcoming expansion, we will continue to work with Pharmapacks to provide reliable and sustainable packaging solutions that address today's social and environmental challenges.”
Islandia, N.Y.-based Pharmapacks said that its proprietary platform allows brands to reach consumers with a complete solution that includes logistics, fulfillment, marketing and sales components. Pharmapacks selles direct-to-consumer through such sites as Amazon and Walmart.com, as well as on its own website. The company touted its ability to offer emerging brands access to its consumer base, enabling brands to focus on product research and development. Pharmapacks said it strategically sets competitice price points and builds a connection between shoppers and the brand.
“We are excited to see Pharmapacks growing at a rapid pace, especially in an ecosystem monopolized by big e-commerce players,” said Andrew Vagenas, CEO of Pharmapacks. “The fundraising, together with the associated partnerships, will enable us to scale operations both domestically and internationally as well as serve our customers in an even more efficient and cost-effective manner, while expanding the number of brands we can support with our unique logistics/e-distribution capabilities.”
Pharmapacks said it would use the dunding to increase its 350-person employee base by 20% and scale its current warehouse, as well as further its automated technology and expand inventory levels and delivery reach to Europe, Asia and beyond.
“With ecommerce becoming a leading driver of growth for our brands like Enfamil, Lysol, Mucinex and Airborne, we are excited to partner and invest with Pharmapacks,” said Nitish Kapoor, executive vice president, North America, RB. “We believe that this partnership will help both companies serve our online shoppers better and grow at an even faster pace.”
Pharmapacks started seven years ago at a Bronx-based independent pharmacy. After building out its e-commerce, logistics and fulfillment software to easily integrate into existing sales platforms, the company now has a 28,000-item catalog and ships more than 30,000 orders daily.
“The Emerson Group is pleased to partner with Pharmapacks. With a shared commitment to excellence in providing our clients industry-leading capabilities and cutting-edge logistics technology, we can deliver the efficiency that is so vital to success in these challenging retail times,” said Scott Emerson, CEO of The Emerson Group. “Our alignment with Pharmapacks will help us deliver increased consumer exposure to our client brands resulting in the brand growth which is the core of our corporate mission.”
Pharmapacks’ in-house tech team is dedicated to building automated assistance tools to better streamline the fulfillment process. Its partnership with Sealed Aid is aimed at improving its throughput and reducing deployment time while cutting down on excess air and wasted space in a package..
“In addition to enhancing the consumer experience upon delivery, Sealed Air and Pharmapacks are having a positive impact on the environment by eliminating excess packaging waste, and nearly eliminating the risk of damage during transit," said Ken Chrisman, President of Sealed Air's Product Care division. “Pharmapacks shares our commitment to use technology and data to solve fulfillment complexities. Through the upcoming expansion, we will continue to work with Pharmapacks to provide reliable and sustainable packaging solutions that address today's social and environmental challenges.”