Capital Angels and Palmetto Angel Fund invest in SC-based PharmRight Corporation
October 13, 2015
COLUMBIA, SC – Capital Angels, the Midland’s angel investor group that is part of the statewide South Carolina Angel Network (SCAN), and The Palmetto Angel Fund, a collaboration between Capital Angels and the other angel groups affiliated under SCAN, is pleased to announce a new investment in South Carolina-based PharmRight Corporation.
PharmRight has developed LiviTM, a cloud-connected, automated medication dispenser for use in homes and institutional care settings to improve medication adherence and reduce the burden on caregivers. Bill Park, CEO of PharmRight explained: “LiviTM is a product with nationwide scope and interest, but we are excited to have secured more funding from local investors to facilitate our commercial launch. SCAN’s diligence process was rigorous, so we are pleased to have convinced their investors to support our company.”
Charlie Banks, Managing Director of Capital Angels and SCAN, noted “ We’re excited about Pharmright and their potential to make a meaningful impact on the lives of many. They are a great team and South Carolina is fortunate to have them building a company in our state.”
SCAN groups, led by Greenville’s Upstate Carolina Angel Network, and the Palmetto Angel Fund also recently invested in Greenville-based startup TipHive, a cloud platform for improving knowledge sharing and communication within enterprises, ending a busy summer of investing in some of South Carolina’s most exciting early stage companies.
SCAN, a professionally-managed network of over 200 angel investors, strives to generate attractive investment returns and strengthen the long-term economic health of our state by investing in innovative young companies.
The South Carolina Angel Network (SCAN) is an affiliation of angel investor groups from across the Palmetto State that provide capital and expertise to early stage, high growth businesses in the southeastern United States. Through its 200-plus members and full-time professional staff, SCAN has invested $15 million in 52 companies, generating positive financial returns, helping attract over $200M in additional capital, and supporting the creation of over 400 jobs. Visit www.scangelnetwork.com for more information.
