Phil Receives $60 Million Debt Financing

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SAN FRANCISCO<&sol;span><&sol;span><&sol;strong> &&num;8212&semi; Phil&comma; a software-driven pharmaceutical commercialization platform&comma; has announced a <span class&equals;"xn-money">&dollar;60 million<&sol;span> growth debt financing from K2 HealthVentures &lpar;K2HV&rpar;&comma; a healthcare and life sciences-focused investment firm&period; The funding will accelerate the integration of artificial intelligence across Phil&&num;8217&semi;s platform and support continued customer expansion across a broad range of therapeutic areas&period;<&sol;p>&NewLine;<p>Since its Series D financing led by Warburg Pincus in 2021&comma; Phil has scaled prescription volumes more than 10x&comma; and ended 2024 with over 150&percnt; year-over-year net revenue growth while generating positive operating cash flow&period;  With this new financing&comma; Phil is positioned to further enhance its platform&comma; driving meaningful improvements for patients&comma; providers&comma; and pharma partners—while strengthening its already best-in-class software margin profile&period;<&sol;p>&NewLine;<p class&equals;"prnml40">&&num;8220&semi;In 2015&comma; we set out to transform patient access—using software to break down barriers to novel&comma; hard-to-obtain therapies&period; That bold idea has grown into a proven&comma; scalable model that&&num;8217&semi;s reshaping care delivery&period; Today&comma; AI marks a new inflection point—one that can reimagine patient care at unprecedented scale&period; With this financing&comma; capital is no longer a constraint&comma; and we have the freedom to continue redefining digital access&period; For me and the entire Phil team&comma; the road ahead has never been more exciting—for our patients and all who share in our vision&comma;&&num;8221&semi; said <b><span class&equals;"xn-person">Deepak Thomas<&sol;span><&sol;b>&comma; Founder and CEO of Phil&period;<&sol;p>&NewLine;<p>Specialty pharmaceutical products address complex conditions and represent a large share of U&period;S&period; prescription drug spending&period; Yet patients and care teams continue to face persistent barriers to access&comma; affordability&comma; and adherence&period; Legacy&comma; call center–based hub models attempt to manage this complexity&comma; but are costly and inefficient&period; Phil pioneered a software-driven platform that streamlines the workflow across patients&comma; prescribers&comma; pharmacies&comma; insurers&comma; and manufacturers—delivering up to 6x higher adherence&comma; 33&percnt; better affordability&comma; and operating at one-tenth the cost of traditional hubs&period; The platform is particularly well-suited for the growing &&num;8220&semi;specialty-lite&&num;8221&semi; and retail therapy markets&period;<&sol;p>&NewLine;<p class&equals;"prnml40">&&num;8220&semi;We&&num;8217&semi;ve been consistently impressed by the Phil team&&num;8217&semi;s disciplined focus on financial fundamentals—an essential foundation for any business that aims to do good at scale&period; We&&num;8217&semi;re excited to provide what is likely the company&&num;8217&semi;s final round of capital&comma; supporting a team that is reimagining patient access with both ambition and operational excellence&comma;&&num;8221&semi; said <b><span class&equals;"xn-person">Austin Sherwindt<&sol;span><&sol;b>&comma; General Partner at K2 HealthVentures&period;<&sol;p>&NewLine;<p class&equals;"prnml40">&&num;8220&semi;When we invested in Phil in 2021&comma; we believed deeply in the potential of technology-powered patient access&period; Four years later&comma;  the company has continued to scale with a growth trajectory that places it at the very top tier of healthcare technology businesses&period; We&&num;8217&semi;re excited for what the future holds&period;&&num;8221&semi;  said <b><span class&equals;"xn-person">Adam Krainson<&sol;span><&sol;b>&comma; Managing Director at Warburg Pincus&period;<&sol;p>&NewLine;