SmithRx Continues to Fix Broken Pharmacy Benefits Management System, Closes $60M in Series C Funding Led by Venrock
SmithRx , a next-generation pharmacy benefits management (PBM) company, closed a $60M Series C financing round — building on the company’s $20M Series B round raised in 2022.
- SmithRx , a next-generation pharmacy benefits management (PBM) company, closed a $60M Series C financing round — building on the company’s $20M Series B round raised in 2022.
- Led by top Silicon Valley healthcare venture capital firm Venrock , the latest funding positions SmithRx to continue reducing costs of pharmacy benefits for small and midsize self-insured businesses.
- “Medications in the U.S. cost too much because the overall system is broken,” said Jake Frenz , founder and CEO of SmithRx.
- “At the core of this broken system are pharmacy benefit managers that drive up the costs.