About Photon Health
Photon Health makes e-prescribing software for clinicians, health systems and digital health companies. Doctors prescribe as usual in their electronic health record or app, and Photon texts the patient a secure link. There the patient compares pharmacies on price, stock, ready time and delivery, and picks one. If a problem comes up, the patient can move the prescription without calling the doctor.
Photon is headquartered in Brooklyn, New York. Otto Sipe, Michael Rado and Sam Kotlove started it in late 2021, and Sipe is CEO. Its customers have included virtual care providers such as Sesame, Found, Measured and Blueberry Pediatrics, and its pharmacy partners include Amazon Pharmacy and Mark Cuban Cost Plus Drugs. Since May 2026, Photon has also powered Doximity Prescribe, a free prescribing tool for Doximity members. Photon has served millions of patients.
Funding Rounds (SEC Form D)
| First sale | Filed with SEC | Amount sold | Investors | Avg. check | Terms | Filing |
|---|---|---|---|---|---|---|
| Apr 15, 2026 | Apr 29, 2026 | $15,919,983of $15.9M target | 13 | $1.2M | EquityRule 506(b) | Form D ↗ |
| Jul 10, 2024 | Jul 25, 2024 | $7,349,986of $10.0M target | 13 | $565K | EquityRule 506(b) | Form D ↗ |
| Total, two offerings | $23,269,969 | |||||
First sale is the date the first investor in the offering committed to invest. Companies must file Form D within 15 days of that date, so filing dates run later.
Rounds announced by Photon Health
What the company said publicly about its funding. Announced amounts can differ from Form D figures: an announcement can combine several closings, and some money is raised without a Form D.
| Announced | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Apr 30, 2026 | Series A | $16M | Healthier Capital (lead), Notation, Flare Capital, Evidenced | photonhealth.com ↗ Press release ↗ |
| Aug 15, 2024 | Seed | $9M | Notation and Flare Capital (co-leads), Floating Point, GG1, Ritual, Headwater, Scrub Capital, Susa, BoxGroup, Long Journey, Cendana | photonhealth.com ↗ Flare Capital ↗ |
Why Investors Backed Photon Health
Investors backed Photon because the moment a doctor sends a prescription is still a blind spot for patients. They pick a pharmacy without seeing price or stock, and a bad pick costs phone calls and time. Photon moves that choice to the patient's phone, and it has signed partners such as Amazon Pharmacy and Doximity. Healthier Capital, whose founder Amir Dan Rubin once ran One Medical, led its $16 million Series A in April 2026.
The problem it targets
When a doctor sends a prescription electronically, the patient usually names a pharmacy on the spot. They see no price, no stock and no delivery options. If the drug is missing or too costly, fixing it takes calls, transfers and new orders. More than 15% of prescriptions sent through Photon need a second touch from clinical teams. Investor Flare Capital put it simply: "As medication costs rise and shortages persist, patients struggle to access critical therapies."
What the product does
Clinicians prescribe from their usual EHR, such as Epic or athenahealth, or through Photon's API. Photon texts the patient a secure link. The patient compares local and mail-order pharmacies on price, stock, ready time and delivery. If a pharmacy runs out, the patient reroutes the order without calling the practice. Clinics and developers can sign up on their own, with plans from $50 a month for 100 orders. Pharmacies join for free, but they can buy sponsored spots in the marketplace.
Progress so far
In August 2024, prescribers sent more than 70,000 prescriptions a month through Photon. By February 2025, Photon had routed over one million prescriptions, with 10x growth in 2024. Sesame saw 71% fewer prescription support requests. In April 2026, Sipe told Fierce Healthcare that Photon had routed prescriptions to half of US pharmacies in the past 30 days. Hospitalogy reported engagement of roughly 60% to 70% on prescriptions sent through Photon. Photon now has positive unit economics. It also cut staff in June 2025. In May 2026, Doximity launched Doximity Prescribe on Photon.
Who backs it
Healthier Capital led the $16 million Series A, with Notation, Flare Capital and Evidenced. Rubin sold One Medical to Amazon for $3.9 billion in 2023. His firm closed a $220 million first fund in January 2026, Fierce Healthcare reported. Healthier partner Gregor Kevrekian, formerly CVS Health's head of corporate development, now sits on Photon's board. So does Notation partner Nick Chirls. Notation and Flare Capital co-led the $9 million round in 2024. Chirls told Fortune that patients with control of their scripts "can eventually go shopping like in any other area of ecommerce."
How the market is moving
Larger players now want the same moment of choice. In January 2026, Surescripts announced Script Corner, a patient tool that shows GoodRx discount prices, Fierce Healthcare reported. On October 15, 2026, Epic announced its own Prescription Marketplace for summer 2027. It will show pharmacy cash prices next to insured costs before the doctor sends the prescription. Amazon Pharmacy and Cost Plus Drugs, both Photon partners, are working with Epic on it. Regulation points the same way. Photon, citing federal guidance, expects health plans to start publishing drug prices by December 2027.
We wrote this summary from public statements by Photon Health and its investors. It is not investment advice.
Photon Health in the News
- Photon Health; Healthcare Highways Announce Data Security Incidents
- Photon Just Killed the “E” in E-Prescribing
- Photon, maker of modern prescription infrastructure, nabs $16M to scale
- Photon nabs $16M for prescription marketplace
- Amazon Pharmacy Partners w/ Photon to Improve Rx Access + Price Transparency
- Photon Health raises $9 million to make shopping for prescription drugs as easy as shopping on Amazon
Leadership Team
Executive officers and directors listed on Photon Health's Form D filed Apr 29, 2026.
Earlier filings also listed Michael Rado (director, last listed Jul 2024).
Sources
- SECPhoton Health, Inc. filing history
- Companyphotonhealth.com, FAQ
- Companyphotonhealth.com, Business Associate Agreement (legal name and address)
- Companyphotonhealth.com, DH100 announcement (2025-02-06)
- Companyphotonhealth.com, athenahealth Marketplace announcement (2025-02-17)
- Companyphotonhealth.com, Amazon Pharmacy collaboration (2025-04-22)
- Companyphotonhealth.com, Building with Doximity (2026-05-15)
- Companyphotonhealth.com, Why I Left Surescripts to Join Photon (2026-07-22)
- Companyphotonhealth.com, Introducing Photon Self-Serve (2026-08-03)
- Companyphotonhealth.com, post on the Transparency in Coverage rule (2026-10-14)
- Companyphotonhealth.com, Found case study
- Companyphotonhealth.com, Measured case study
- Investorflarecapital.com, Photon Health company page
- Investorhealthiercapital.com, Amir Dan Rubin bio
- Investorhealthiercapital.com, Gregor Kevrekian bio
- InvestorNotation Capital operating manual (team list)
- PressFierce Healthcare, Healthier Capital banks $220M (2026-01-28)
- PressFierce Healthcare, Surescripts taps GoodRx for Script Corner (2026-01-13)
- Pressepic.com, Prescription Marketplace announcement (2026-10-15)