Phil, a leading software-driven pharmaceutical commercialization platform, announced a $60 million growth debt financing from K2 HealthVentures (K2HV), a healthcare and life sciences-focused investment firm. The funding will accelerate the integration of artificial intelligence across Phil's platform and support continued customer expansion across a broad range of therapeutic areas.

Since its Series D financing led by Warburg Pincus in 2021, Phil has scaled prescription volumes more than 10x, and ended 2024 with over 150% year-over-year net revenue growth while generating positive operating cash flow.  With this new financing, Phil is positioned to further enhance its platform, driving meaningful improvements for patients, providers, and pharma partners—while strengthening its already best-in-class software margin profile.

"In 2015, we set out to transform patient access—using software to break down barriers to novel, hard-to-obtain therapies. That bold idea has grown into a proven, scalable model that's reshaping care delivery. Today, AI marks a new inflection point—one that can reimagine patient care at unprecedented scale. With this financing, capital is no longer a constraint, and we have the freedom to continue redefining digital access. For me and the entire Phil team, the road ahead has never been more exciting—for our patients and all who share in our vision," said Deepak Thomas, Founder and CEO of Phil.

"We've been consistently impressed by the Phil team's disciplined focus on financial fundamentals—an essential foundation for any business that aims to do good at scale. We're excited to provide what is likely the company's final round of capital, supporting a team that is reimagining patient access with both ambition and operational excellence," said Austin Sherwindt, General Partner at K2 HealthVentures.

"When we invested in Phil in 2021, we believed deeply in the potential of technology-powered patient access. Four years later,  the company has continued to scale with a growth trajectory that places it at the very top tier of healthcare technology businesses. We're excited for what the future holds."  said Adam Krainson, Managing Director at Warburg Pincus.