ZappRx Raises $5.6 Million In Series A Funding To Expand The Company

Tapingo Orders Up $22 Million In Series C Funding To Grow Beyond The College MarketPharmacy coordination platform ZappRx announced it has raised $5.6 million in Series A funding today. The new financing will go to further build upon ZappRx’s prescription data automation technology and help to scale operations for the startup.
ZappRx solves a unique dilemma in the prescription medication industry. Many pharmacies still use fax or phone to transfer medical prescription information from the doctor and ZappRx believes its main competitor is actually the fax machine. It can be frustrating for patients to find out the prescription paperwork has been lost or didn’t come in through on fax when the patient needs it.
ZappRx automates the process between doctor and pharmacy by sending information over an app in real-time instead of by fax to ensure these specialty patients get the medications they need.
ZappRx began with the goal to become the go-to app for prescription communications among all doctors, pharmacists and patients throughout the country. However, with just six employees at the time, that seemed to be a bit too lofty of a goal. The startup shifted focus to specialty pharmacies that provide care to patients with acute or chronic conditions instead. ZappRx says this was because it saw more of a need in the market for specialty medications to chronically ill patients. These are the patients that frequent the pharmacy the most to pick up various medications or must specialty order them.
This new round allows the company to hire more people to help execute on more deals with large pharmaceutical companies. ZappRx recently hired 17 people with the new financing and plans to hire 15 more in the near future.
Related ArticlesZappRx Lands $1M To Rethink Prescription Processing With A Pharmacy-Agnostic Mobile Checkout Platform
The round was led by GlaxoSmithKline’s funding arm SR One, with participation from early stage life sciences venture firm Atlas Ventures. ZappRx was SR One’s first investment in digital health, and both firms had participated in the previous round. This now puts the total amount of funding at $8.8 million for ZappRx.
Managing partner at SR One Jens Eckstein was bold on the firm’s renewed commitment to ZappRx’s vision. “We strongly believe in ZappRx’s ability to alleviate these inefficiencies…and to innovative IT solutions for our industry,” he said.

By: Unknown On 02:24

Continue Reading

News Corp Buys Indian Tech Media Company VCCircle

No One Is Neutral On Title IINews Corp is continuing its focus on India after it announced a deal to buy tech and startup-focused media company VCCircle.
Founded in 2005, VCCircle runs news sites VCCircle.com and Techcircle.in, in addition to research platform VCCEdge, VCCircle Training and an events business. The Noida-headquartered company has over 100 staff, and it will become part of the News Corp India organization, which already includes Dow Jones and Wall Street Journal.
The undisclosed deal is Media Corp’s third piece of business in India, each of which has closed in the past six months. The U.S. media giant put $30 million into property company PropTiger back in November, and it bought financial planning service Bigdecisions.com in December.
“This significant investment is a sign of our faith in India’s future and our enthusiasm for working with and building up emerging talents in the country. India is an increasingly meaningful part of our portfolio, which is itself increasingly digital and global,” News Corp Chief Executive Robert Thomson said in a canned statement.
P.V. Sahad, Founder and CEO of VCCircle, said that the company’s acquisition would “accelerate our already aggressive growth plans,” although he did not provide more specific details of those goals.
India’s booming tech scene is attracting investors in large numbers — including SoftBank, Google Capital and a new Tiger Global fund — and higher funding rounds, all of which increases the importance of quality on-the-ground reporting, analysis and events. Added to that, this is an interesting deal because we don’t often see ‘pure-play’ media companies being acquired in India.

By: Unknown On 00:45

Continue Reading

Tesla Q4 Hit By Delivery Shortfall, But Company Expects To Be Back On Track In Q1

Electric car manufacturer Tesla reported earnings today following the bell, including $1.1 billion in non-GAAP revenue, and an adjusted loss per share of $0.13. On a GAAP basis, using normal accounting methods, Tesla had a wider loss of 86 cents per share, and revenue of $957 million.
The company delivered 9,834 cars in the period. In the sequentially preceding third quarter, Tesla delivered a comparable 7,785 Model S vehicles. For the full-year period, Tesla delivered 31,655 cars.
Tesla said it built 11,627 vehicles in Q4, which meant that it matched its full-year production target of 35,000 vehicles in 2014. However, it was unable to deliver promised vehicles due to a combination of customer vacations, severe winter weather, and shipping problems. Those deliveries will move into the first quarter.
The market expected Tesla to earn an adjusted $0.31 per share, on non-GAAP revenue of $1.23 billion. Tesla reports non-GAAP revenue, a somewhat rare statistic, to allow for the impacts that its Model S leasing program has on short-term top line. Both revenue figures for Tesla are worth tracking.
The company reported gross margin of 26.7 percent in the quarter, below its forecast 28 percent estimate.
In regular trading, Tesla dipped more than 2 percent. In after-hours trading shortly after its earnings release, the company was down about 3 percent. Tesla, worth north of $26 billion before it reported its financial performance, remains far off of its 52 highs, which saw its shares nearly reach the $300 mark before receding.
The company projects that in 2015, it will deliver a total of 55,000 Model S and X vehicles, which is 70 percent above its 2014 deliveries. About 40 percent of those it expects to deliver in the first half of the year.
0
SHARES0Share0Tweet0Share0000AdvertisementAdvertisementCrunchBaseTesla MotorsFounded2003  OverviewTesla Motors, founded by Elon Musk, Marc Tarpenning and Martin Eberhard, is a company that produces a high-performance electric sports car, and is backed by a number of high-profile investors. Introduced in June 2006 to the public complete with a test drive by California Governor Arnold Schwarzenegger, the Tesla Roadster is able to go from 0 to 60 in less than 4 seconds (competitive with Porsche and …LocationPalo Alto, CaliforniaCategoriesAutomotive, Clean TechnologyFoundersMarc TarpenningWebsitehttp://www.teslamotors.comFull profile for Tesla Motors

By: Unknown On 23:19

Continue Reading