BIRMINGHAM, Ala., Dec. 09, 2020 (GLOBE NEWSWIRE) — Alabama Futures Fund (“AFF”) recently placed an investment in HealNow, Inc., (“HealNow”). Based in New York, NY and relocating to Birmingham, AL, HealNow has developed an onboarding and payments platform for online and traditional retail pharmacies. The HealNow platform is integrated into a pharmacy’s electronic records workflow to create a seamless communication and payment conduit between the pharmacy and patient. HealNow’s technology streamlines the prescription fulfillment process and has proven to increase revenue for partner pharmacies by providing electronic payment processing solutions, and create a better experience for pharmacy customers.
The HealNow investment is the ninth investment by AFF since the fund was launched in Q4 of 2018. Like previous investments made by AFF in companies located outside the State of Alabama, HealNow will move its headquarters to Birmingham and Founder/CEO Halston Prox will relocate from New York City to Birmingham in Q1 2021. AFF served as the lead investor on the round with participation from the recently launched SoftBank Opportunity Fund. The SoftBank Opportunity Fund is a $100 million venture fund dedicated to supporting and building a community of outstanding Black, Latinx, and Native American founders.
HealNow was started by two dynamic founders, Halston Prox and Joshua Smith (Co-founder/CTO). Halston and Joshua met as undergrads at the University of Texas. Halston brings over 8 years of experience in the healthcare industry managing implementation for electronic medical records software for large health systems like Mount Sinai and Baylor, Scott and White. Joshua has been a web and mobile app developer for the last five years with extensive experience working with both large enterprise clients as well as helping startups build early versions of their product.
According to Mr. Prox, HealNow is looking forward to the move to Birmingham and understands the value of relocating to a city with a deep healthcare focus. “We are very excited to announce the move of our headquarters to Birmingham and are thrilled to have funding partners like AFF and SoftBank to help us build an incredible company. Together, we will be able to expand our footprint throughout the east coast, southern states, and thriving communities such as Birmingham. This partnership moves us closer to achieving our goal of bringing the entire pharmacy industry online.”
Mickey Millsap, Partner at Redhawk Advisory, LLC (“Redhawk”) serving as the investment manager to AFF said, “We are grateful to have the opportunity to partner with Halston and Joshua on this journey. Not only is this team building a great company that is solving a large and demonstrable problem, but Halston and Joshua are the type of leaders that we want to bring to the Birmingham startup ecosystem.”
About Alabama Futures Fund, LP
AFF seeks to make seed and early-stage investments in Alabama-based operating companies and companies that are willing to relocate their headquarters and principal business operations to Alabama. AFF will target portfolio investments that demonstrate high growth potential, are led by coachable and adaptable founding teams and are focused on large total addressable markets. Additional information about AFF can be found at www.alabamafuturesfund.com.
About Redhawk Advisory, LLC
Redhawk is a registered Investment Advisor with offices in Birmingham. Founded in 2018 by Matt Hottle and Mickey Millsap, Redhawk focuses on identifying investments in early-stage startups with high growth potential across a broad range of industries. For more information, please visit www.RedhawkVC.com.
