Medical Supply Platform Bttn Raises $20M Series A From Tiger Global
Launched during the pandemic, bttn was founded as a way to help healthcare facilities get access to high-quality medical supplies at a time when masks, hand sanitizers and other items were in high demand. Now, more than a year after launching, the e-commerce startup has secured new funding.
On Monday, bttn announced that it closed a $20 million Series A funding round at a $110 million valuation. The round was led by Tiger Global, one of the most notable VC firms.
With the latest investment, bttn’s total capital raised now stands at $26.5 million, according to Crunchbase.
Based in Seattle, bttn is a B2B company that provides healthcare facilities an online e-commerce platform where they can purchase medical supplies at wholesale prices. Through the platform, buyers can also automate their medical supply purchases to have them delivered periodically. The platform was created to help medical facilities purchase supplies without being price gouged.
“Bttn was founded with the mission to deliver a modern, digital approach to buying medical supplies, ultimately meeting a much-desired need in this highly antiquated market,” JT Garwood, CEO and co-founder of bttn, said in a statement. “The Series A investment will help us scale and accelerate growth, allowing bttn to support more customers with a best-in-class shopping experience. By earning the business of 7,000 customers in the year since our launch, it is crystal clear that customers want and need what we are offering.”
Built In last caught up with the medical platform when it secured $5 million in a seed round last August. At the time of the seed round, the company stated that in the first 90 days after launching it secured over 300 customers and had made $500,000 in revenue.
Now the company is announcing that it completed over 1,000 orders in May alone and has over 2.5 million in medical supplies. In April, the company also added eight distribution centers and brought down its fulfillment time to three days.