Fullscript raises $250 million to expand digital supplement dispensary

Photo Cred: Karolina Grabowska/Pexels

By Avery St. Onge

On November 10, 2021, Fullscript, an online dispensary for supplements, reached an agreement to receive a $240 million strategic growth development investment from HGGC, a Palo Alto, California-based private equity company, and the investment firm Snapdragon Capital Partners.

“We are very excited to partner with HGGC and Snapdragon to build on the immense growth we have achieved over the past decade and take our business to the next level,” said Kyle Braatz, CEO at Fullscript.

Fullscript, which is headquartered in Ottawa, Ontario, was founded in 2011. The tech company provides a virtual platform for practitioners that dispenses supplements as well as product recommendations and treatment adherence features like automated refills for patients.

Fullscript’s revenue has grown significantly over the past 10 years. The company now employs over 500 people across North America and has reached 300 million dollars in annual revenue.

“By partnering with experienced growth technology and health and wellness investors HGGC and Snapdragon, Fullscript can extend its market leadership and become an even more critical player in helping consumers manage their health and wellbeing,” said Mark Grabowski, founder and managing director at Snapdragon Capital Partners.

Snapdragon Capital Partners is an investment firm that mainly works with health and wellness companies. They’re investing alongside HGGC.

“Through its direct-to-patient platform, Fullscript enables practitioners to better allocate resources and focus on patient care,” stated Bill Conrad, HGGC Partner. “HGGC and Snapdragon look forward to supporting Fullscript’s vision to be the platform that powers integrative medicine.”