Truveris Closes $10M Series B Venture Funding
Truveris, Inc., a New York City-based provider of software designed to drive efficiency, transparency and cost containment in the prescriptions claims process, has closed a $10m Series B venture funding.
The round was led by New Leaf Venture Partners, with participation from Tribeca Venture Partners, New Atlantic Ventures and First Round Capital.
The company intends to use the funding to expand its development and operations teams (http://www.truveris.com/careers/) to reach government entities, health insurance companies, self-insured corporations and unions across the United States.
Founded in 2009 and led by chairman, president and CEO Bryan Birch, Truveris provides a cloud-based software program designed to help payers of pharmacy benefits (insurance companies and self-insured organizations) negotiate agreements with Prescription Benefit Managers (PBMs), validate claim payment accuracy, ensure regulatory compliance, and manage pharmacy spend.
Its TruGuard enables payers with existing PBM contracts to verify and pay only for correctly priced and adjudicated claims, prior to payment, rather than relying on a manual, annual, less efficient retrospective audit.
01/02/2011: Truveris Closes $3.8M Venture Capital Funding Round