SmithRx, a pharmacy benefits manager, has raised $60 million in a Series C funding round led by Venrock. SmithRx is on a mission to transform the prescription medication management system. The company aims to make prescription medications more accessible, affordable and transparent for employers and individuals.
The company launched programs including autoimmune savings and low-cost insulin in 2023. It also formed partnerships with online pharmacies such as Mark Cuban Cost Plus Drug Company and Amazon Pharmacy. SmithRx plans to build on its recent momentum by enhancing its technology and further developing its pharmacy product with its new funding.
Equipped with its fresh capital, SmithRx hopes to help usher in a new era in which patients, payers and providers are aligned to create a more equitable and efficient healthcare system.
