KEEP, the highly anticipated Modern Medicine Cabinet, announced today that it has raised $2.8M in seed funding and is now positioned to accelerate partnerships with global life sciences companies, patient support programs and specialty pharmacy networks with the launch of KARE by KEEP. KARE is the first medication adherence and analytics platform that improves drug safety while providing deeper insight into the patient journey at home. KEEP now has a consumer centric product patients love with embedded functionality for the enterprise, taking a new approach to integrating both hardware and software into the medication management journey.
“A key principle of KEEP is that we don’t fundamentally change the way medications are taken or how they’re dispensed, we simply change the way they are stored,” said Jeff Wandzura, RPh, CEO of KEEP Labs. “KEEP has created a frictionless experience that leads to consistent, long term use, passively capturing daily dosing data without any additional action from the patient, an element that challenges existing adherence solutions. This enables proactive intervention and provides a deeper understanding of the patient journey.”
In its inaugural year, KEEP was named TIME Magazine Best Invention of 2020, 2020 CES Innovation Award recipient and proven by a sold-out 15,000 unit pre-order campaign. Building on this momentum, KEEP grew a global portfolio of healthcare partners to augment their patient support programs, HUB services and decentralized clinical trials, with patient experience at the forefront.
With the closing of this seed round, KEEP has brought in a group of investors and advisory board members that will support the company’s growth and inform strategy into the future, bringing decades of AI, life sciences and payor industry experience. One of the advisors is Linda Mantia, Board of Directors of McKesson, Ceridian, MindBeacon, Granular Insurance, a Verily Company and Sunnybrook Health Sciences Centre and former senior leader at Manulife and RBC.
“It is incredibly exciting when technological advancements can be brought to improving medical outcomes and community safety in a seamless way,” Mantia said. “From the moment I met the team, I was taken by their unique skill sets and relentless focus to solve drug adherence challenges. KEEP has a vision to bring people and today’s health ecosystem together in an integrated way.”
In addition to Mantia, the advisory board is comprised of industry leading executives:
- Mike Rhodin – Founder of the IBM Watson Health business units, Board Member of TomTom and Advisory Board Member of Santander and Arboretum Ventures.
- Neal Dempsey – Managing General Partner of Bay Partners, one of the longest running venture capital firms in Silicon Valley with over $2.5B in returns.
- Nicholas Thadaney – Founder of Partners Capital Corporation, Former Head of the Toronto Stock Exchange, Board Member of Coinsquare, INX Ltd., Ghost Kitchen Brands and JA Canada.
- Sam Duboc – Executive Chair of MindBeacon, Founder and Former CEO of Edgestone Capital, Former Chair of the Business Development Bank of Canada (BDC), Co-founder of LoyaltyOne (Air Miles).
- Steven Martin – Former Head of Product, Medication Adherence, Digital Health at Philips Healthcare.
Other notable investors participating in the round include:
- David Dube – President and CEO of Concorde Group, Member Order of Canada.
- Globalive Capital – Anthony Lacavera and Brice Scheschuk, active investors in the Canadian start-up and innovation ecosystem.
- John Bell – Founder of OnBelay Capital, Former Chair of Canopy Growth Corporation.
- Max Schmeiser – Head of Data Science at Twitter.
- Michael Katchen – Co-founder and CEO of Wealthsimple.
- Michael Nashat – Co-founder of Terrascend, Rx Infinity.
About KEEP Labs
KEEP Labs is a Canadian tech company founded by two dads who were looking for a smart way to store prescription medication at home. KEEP Lab’s introductory product, KEEP, is a TIME Best Invention of 2020 and CES 2020 Innovation Honoree. KARE by KEEP is the first medication adherence and analytics platform for global life sciences companies, patient support programs and pharmacy networks that integrates both hardware and software for all dosage forms, providing deeper insight into the patient journey at home. Follow us @discoverkeep.