Series C Round Financing led by Canaan Partners
NEW YORK, June 27, 2014 /PRNewswire/ — Truveris, a leading platform for pharmacy pricing and benefits analysis, today announced it raised $12.75 million in a Series C Round financing. Canaan Partners led the investment and was joined by existing investors New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round. Truveris will use the funds to scale the firm’s sales and marketing teams and further product development.
“Truveris is solving one of the most critical issues facing the health care industry today: reducing prescription costs and providing better access,” said Canaan Partners general partner, Stephen Bloch, who will join Truveris’ board. “With a sophisticated and comprehensive solution, the company offers the best analytical tools on the market to change the existing cost structure. To date, they have already saved their 200 customers and 30 million members millions of dollars.
Founded in 2009, Truveris offers unions, self-insured companies, government entities, health insurers, benefit consultants, and pharmaceutical manufacturers unprecedented transparency into pharmaceutical benefit costs, design and procurement. Doubling revenue each year, Truveris’ cloud-based platform currently analyzes approximately 10% of the prescriptions in the U.S.