Pharmacy Software Start-Up Strongroom AI Raises $17 Million Led by EVP
Australian Financial Review
SKIPPED
Details
- Date Published
- 12 Mar 2025
- Priority Score
- 1
- Australian
- Yes
- Created
- 14 Mar 2025, 11:50 am
Description
Three friends have turned their university side hustle into a software business after landing new venture capital investors.
Summary
StrongRoom AI, a start-up that provides pharmacy software to ensure medication adherence, has successfully raised $17 million in capital, valuing the company at nearly $70 million. The venture began as a side project among university friends and now serves over 1500 pharmacies in Australia, the United States, and Britain. The investment round reflects growing interest in AI applications within healthcare, though it is primarily focused on commercial growth rather than addressing catastrophic AI risks. This development is more indicative of regional technological entrepreneurship in Australia than substantial contributions to global AI safety discussions.
Body
TechnologyFundingPrint articleTess BennettTechnology reporterMar 13, 2025 – 4.29pmSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginStrongRoom AI, which makes software for pharmacies to help patients adhere to their medication regime, has completed a $17 million capital raising, which values the start-up at almost $70 million.Founded by three friends as a side hustle while at university, StrongRoom AI has signed up more than 1500 pharmacies across Australia, the United States and Britain, to use its software. Its customers include major pharmacy groups such as Independent Pharmacies Australia, Direct Chemist Outlet and Ventura Health.Loading...Tess Bennettis a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter.Connect withTessonTwitter.EmailTessattess.bennett@afr.comSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreFundingStart-upsVenture capitalPharmaceuticalsMedicineFetching latest articlesSports stars keep shifting their watch brand allegiancesBani McSpeddenDark Emu beer with native grains at this destination breweryCrocs turn 23 years old. Time to grow up and get shoesFour women who started businesses after the age of 45Sally PattenWhat happened when Domain learnt it spent $36m a year on meetingsThe country’s highest-paid directors revealedA backyard beehive and an on-trend merino sweater to wear this winterEugenie KellyWill BMW’s Neue Klasse range be the game-changing EVs they promise?The Australian gallery that made art fun turns 20Property billionaire Nick Andrianakos dies in GreeceYolanda RedrupCannon-Brookes describes ‘deep internal conflict’ over his private jetOscar Piastri on the secret of his $41m-a year success