Truveris, a New York City-based platform for pharmacy pricing and benefits analysis, raised $12.75m in Series C financing.
The round was led by Canaan Partners with participation from existing investors New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round Capital. In conjunction with the funding, Canaan Partners general partner, Stephen Bloch, will join Truveris’ board.
The company intends to use the funds to scale sales and marketing teams and further product development.
Founded in 2009 and led by Bryan Birch, CEO, Truveris offers unions, self-insured companies, government entities, health insurers, benefit consultants, and pharmaceutical manufacturers with a platform for transparency into pharmaceutical benefit costs, design and procurement.
Its SaaS solutions include TruGuard®, a platform that audits the costs of prescription claims, TruBid®, a pricing platform for large companies to compare pharmacy benefit offerings from pharmaceutical benefit management companies (PBMs), and RxChoiceSM, which provides similar services for the mid-to-small market.
Additionally, the company recently launched TruReport® and RxDashSM, which provide pricing and reporting suites for PBMs, health insurers and large consulting practices.