Truepill Co-Founder's Foundation Health Raises $20M To Power AI Pharmacies

Umar Afridi, a pharmacist with ten years in retail, co-founded Truepill in 2016 to modernize the pharmacy industry through technology. Truepill helped shape the direct-to-consumer healthcare model, building solutions for companies like Optum Store, Mark Cuban Cost Plus Drugs, and Eli Lilly’s Lilly Direct.

After leaving Truepill in 2022, Afridi launched Foundation Health in 2023 to create AI-powered infrastructure that streamlines pharmacy operations, care coordination, and direct-to-patient delivery. “Foundation Health is an evolution of the Truepill model, combining world-class patient experiences with operational excellence,” Afridi told Fierce Healthcare.

The company raised $20 million in Series A funding led by Define Ventures, with participation from Vanderbilt University, Intermountain Ventures, and others—bringing its total funding to $26 million. The new capital will support team growth and accelerate development of its AI-driven pharmacy solutions.

Foundation Health’s platform includes PAIGE AI, an AI pharmacist assistant that automates workflows like refill processing, benefits verification, and prior authorizations across medical and pharmacy benefits. Integrated with major EHRs such as Epic, the tool can reduce care team workloads by up to 75%. The company also offers a digital pharmacy experience, an operational dashboard, and direct-to-patient delivery capabilities for health systems and pharma brands.

Already working with Intermountain Health and Hackensack Meridian Health, Foundation Health is in talks with about 50 additional systems. Hackensack’s Eboney Hadnott said the partnership helps staff “focus more on what truly matters - our patients.”

Unlike Truepill, Foundation Health doesn’t run pharmacies. Afridi said the focus this time is solely on software, applying lessons from a decade of powering direct-to-consumer healthcare. Define Ventures’ Lynne Chou O’Keefe called the platform “comprehensive, scalable, and AI-native,” addressing real challenges for pharmacists and patients.