Pharmacy manager software company Truveris raises $15 million in funding

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Truveris, a pharmacy cost containment and program performance company, raised $15 million in Series E investment led by two lead investors, Canaan Partners and New Leaf Venture Partners.

According to a release, the funding will support Truveris’ corporate development and operational growth as it delivers pharmacy benefit solutions to employers nationwide.

The company was founded in 2009 and is headquartered on Beaver Valley Road in north Wilmington.

Truveris’ technology platform replaces traditional pharmacy benefit manager contracting and renewal models.

“It creates a transparent and dynamic competitive marketplace that drives significant savings on pharmacy pricing and improved contract terms. Truveris’ technology also provides ongoing analysis of 100% of claims throughout the life of the contract to ensure contract compliance, enable program optimization, and satisfy fiduciary responsibilities,” according to the release.

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“We are pleased by the continued commitment of Truveris’ current long-term investors, Caanan and New Leaf, to advancing the company’s success,” said Nanette Oddo, CEO Truveris. “This financing round represents a further validation of our industry-leading solutions and ongoing growth potential. We will continue to evolve the Truveris platform, and together with our valued business partners and clients, will transform and reduce pharmacy spend for employers and their plan members.”

“What made Truveris unique since its inception has been its singular focus on using technology to address one of the biggest benefit challenges facing employers – escalating pharmacy spend,” said Stephen Bloch, general partner, Canaan Partners. ”Truveris is ideally positioned to transform pharmacy contracting and oversight, providing transparency and control to employers while significantly reducing pharmacy spend for both employers and their plan members.”

For more information about Truveris, please contact info@truveris.com.

About Truveris

Truveris is a leading healthcare technology company focused on transforming and reducing pharmacy spend. Truveris has built the only independent, data-led, tech platform that creates complete PBM pricing transparency and drives competition to reduce costs for employers. Our solutions replace traditional pharmacy procurement and renewal models for self-insured employers by providing deep insights, comparative procurement, 100% claims analysis, and member engagement solutions. For more information on our solutions, visit www.truveris.com.

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