New raise follows the company’s $150 million growth financing from GPI Capital and JPMorgan Chase Bank in July
Pharmapacks, LLC (“Pharmapacks” or “Company”), a leading ecommerce enablement platform and retail seller for brands across major ecommerce marketplaces, today announced the closing of a $40 million bridge round financing which was led by Reckitt Benckiser, The Craftory, The Straus Group, The Emerson Group, and Sawaya Capital Partners. J.P. Morgan Securities LLC is acting as Sole Placement Agent on the financing.
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This follows Pharmapacks July growth financing of $150 million with GPI Capital and JPMorgan Chase Bank.
“We’re excited to bring in new investors and welcome back long-term partners like RB and Emerson Group that have helped Pharmapacks continually reach new heights,” said Pharmapacks CEO Andrew Vagenas.
“RB is very happy to be further strengthening our investment and long-term partnership with Pharmapacks. The continuing acceleration of eCommerce provides a great opportunity for both our companies to provide better access and a superior consumer experience online,” said Arjun Purkayastha, Senior Vice President – eRB at RB.
Powered by its proprietary platform, Pharmapacks has been trusted by millions of customers to provide all their daily needs. After reaching over $250MM in sales in 2019, Pharmapacks is on a current run rate to achieve more than 70% year-over-year growth and, with the opening of a 230k square foot replenishment center in late Q3, should give Pharmapacks the ability to achieve 100% year-over-year growth in Q4.
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