TailorMed raises $40 million in equity and debt to help patients access critical medications
TailorMed raises $40 million in equity and debt to help patients access critical medications
With growing demand in the U.S., the startup’s platform addresses one of healthcare’s biggest pain points.
Israeli digital health company TailorMed has raised $40 million in equity and debt in its latest funding round. The round was led by Windham Capital Partners and included participation from Samsung Next, Citi Impact Fund, and the BrightEdge fund. Existing investors also joined, including Accelmed, Almeda Ventures, Sanara Ventures, Triventures, and Bridges. The debt component, amounting to $12.5 million, was led by Poalim Tech. With this round, TailorMed’s total funding has reached $69 million, following two previous rounds.
Founded in 2016 by Srulik Dvorsky (CEO) and Adam Siton (CTO), TailorMed employs 96 people, about half of whom are based in Israel. The company operates in a unique segment of digital health, offering financial assistance solutions to improve access to medications, primarily in the U.S. market.
The affordability of prescription drugs is a pressing issue in the U.S., where only 55% of adults can afford the treatments they need, often leading to delayed or forgone care. Additionally, over 100 million Americans carry medical debt, contributing to 65% of household bankruptcies in the country.
TailorMed has developed a financial assistance network that connects patients, healthcare providers, pharmacies, and pharmaceutical companies to mitigate these challenges. The platform streamlines treatment management and aims to reduce costs for patients.
Notably, investment arms of several leading U.S. hospital chains participated in this funding round and previous ones, signaling strong support for TailorMed’s mission to address systemic issues in healthcare affordability.
“In the past six years, we’ve built incredible momentum by empowering our network of leading health systems, pharmacies, and life science companies to drive affordability on a massive scale,” said Srulik Dvorsky, CEO and Co-Founder of TailorMed. “But we’re just getting started. This new funding will fuel our mission to break down even more barriers to care, creating a healthcare system where affordability is the standard, not the exception, and working with patients and care teams to alleviate whatever barrier that comes next. We’re excited to have the backing of Windham Capital Partners and other forward-thinking investors who share our vision of transforming access to care for millions.”
