Truveris is a digital health company founded in 2009, focused on providing pharmacy benefits management solutions that aim to drive down prescription costs and improve access to medication. The company uses technology-driven platforms to enable employers, insurers, and other stakeholders to effectively manage pharmacy spending. Headquartered in Wilmington, Delaware, Truveris has attracted substantial investment over the years, including a recent $15 million Series E funding round led by Canaan Partners and New Leaf Venture Partners. The company was co-founded by Leon Greene and Thomas Staloch.
| Attribute | Information |
|---|---|
| Founding Date | 2009 |
| Headquarters | Wilmington, Delaware |
| Founders | Leon Greene, Thomas Staloch |
| Revenue | Not disclosed |
| Profits | Not disclosed |
| Key Investors | Canaan Partners, New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures, First Round Capital |
| Industry | Digital Health, Pharmacy Benefits Management |
| Number of Employees | Data not specified |
Truveris was established in 2009 by Leon Greene and Thomas Staloch, who sought to address the opaque and often inefficient nature of pharmacy benefit management. By leveraging cloud-based analytics tools, Truveris aimed to provide greater transparency and cost savings in the prescription drug claims and reimbursement process. Early in its development, the company secured funding from notable investors like Tribeca Venture Partners and New Atlantic Ventures, which helped accelerate its growth. Truveris garnered attention by pioneering technology that facilitated more accurate claim validations and price checking, making substantial inroads in simplifying and optimizing cost management for prescription benefits.
Truveris operates by providing a suite of products that empower employers and payers to more efficiently manage pharmacy benefit plans. Their flagship product, TruBid, allows users to obtain competitive bids from pharmacy benefit managers (PBMs), leading to significant cost reductions. The company has continued to refine and expand its platform to include features like real-time analytics and transparent contract terms review.
Truveris remains committed to enhancing its platform capabilities, emphasized by regular updates and strategic initiatives designed to tackle the evolving landscape of pharmacy benefits.
Truveris continues to play a pivotal role in the pharmacy benefits management industry by providing stakeholders with cutting-edge tools and insights needed to navigate the complex PBM landscape effectively. With recent funding, Truveris has been able to broaden its market reach and strengthen its technological infrastructure to better serve a diversifying client base.
The company maintains a competitive advantage through its comprehensive data-driven approach, which provides actionable insights that facilitate better decision-making and significant cost savings. Truveris's strong partnerships with investors and strategic stakeholders further solidify its position in the market as a thought leader and innovator in pharmacy cost containment.
Truveris has established itself as a vital player in the pharmacy benefits management sector, known for its expertise in driving down costs and improving healthcare accessibility. With strategic expansions and ongoing innovations in product offerings, Truveris continues to influence the PBM landscape significantly. Moving forward, the company is poised to further its impact by leveraging new investments to enhance platform capabilities and extend its market reach, potentially shaping the future of pharmacy benefits management.