We just co-led Wrapped Health's $2.1m pre-seed with Arteria Capital. Here's the problem they're solving, and you've almost certainly lived it: When a doctor writes you a prescription, it reaches the pharmacy before you have walked out the doctor's office door. A lab order works the same way because somebody built it. Now think about the last time a doctor told you to go buy something yourself: a prenatal vitamin, a knee brace... You nodded, you left, and then you were standing in an aisle somewhere trying to remember what they'd said. Roughly a billion US healthcare visits a year end in some version of "go buy this," and not one of them gets sent anywhere. Wrapped turns that sentence into an order. It lives inside the software the doctor is already working in, so picking the products takes a couple seconds, and the patient gets a text with the cart already built, HSA and FSA accepted, delivered by a large retailer. So we asked the one question that decides whether a company like this works: When the order gets sent, does the patient actually buy it? 90% of patients open the text. Half of them buy what's in it, because their own doctor picked it. Then we wanted to hear it from the other side. Over a few weeks before investing, we took Wrapped to several provider groups. You'd expect most of them to pass. Instead, most got it immediately and asked to talk to the team. And every one of them said the same thing: if it works, we'd integrate it right away. The money is already sitting there too: $174B is parked in 40M HSA accounts, and roughly half of FSA holders forfeit whatever they haven't spent by the deadline, averaging $436 a head. So you've got doctors giving instructions that go nowhere, and patients sitting on money they're about to lose. Same problem, from two directions. It's easy to miss unless you've spent time with clinicians and understand their workflows. Once you've seen it, you can't unsee it though... Max wasn't planning to raise until Q1. But after getting to know him ahead of a fundraise, we moved fast and pre-empted the round. Congratulations Max and Josh!
Couldn't have asked for a better partner!
The 50% purchase rate is the receipt. The clever part is converting a verbal recommendation into a transactional object inside the clinician workflow. That closes three gaps at once: memory, trust, and payment. The moat will compound in the product-order and patient-conversion data.