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Smithrx Announces $20 Million Series B Led By Venrock

PRIVATEMar 10, 2022•about 4 years ago

Amount Raised

$20 Million

Round Type

series b

San Francisco

Description

SmithRx, a next-generation pharmacy benefits management company, today announced the closing of a $20 million series B financing round, following a year of record growth in which the company surpassed 1,100 employer clients. Venrock led the oversubscribed round and was joined by existing investors, including Founders Fund. The proceeds will support Smith’s plans for continued growth as it becomes the leader in next-generation pharmacy benefits management (PBM).

Company Information

Company

Smith Rx

Location

San Francisco, California, United States

About

SmithRx reduces total drug costs and improves health outcomes with 100% pass-through pricing and the world’s most advanced PBM technology. With hundreds of broker and TPA partners, SmithRx has simplified pharmacy benefits with its leading-edge technology and easily-integrated cloud infrastructure, resulting in lower pharmacy costs for employers. Members benefit from SmithRx’s clinical programs and alternative sourcing, SmithRx Connect, to easily manage their prescription benefits and reduce overall drug spend. With offices in California and Utah, SmithRx was founded with the mission of offering a simple, completely transparent cloud-based alternative to traditional PBMs. For additional information on SmithRx, visit www.smithrx.com or send an email to marketing@smithrx.com.

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