RxREVU Reaches $1 Million Funding Milestone Investments from technology and healthcare IT leaders validate growing need for medication cost and efficacy information
DENVER, August 13, 2014-- RxREVU, the leader in delivering prescription optimization solutions, today announced additional funding which brings the total amount raised by RxREVU to $1 million. Investors include Nat Turner and Zach Weinberg, co-founders of Flatiron Health (a Google Ventures led recipient of $130 million in Series B funding), Vivek Garipalli, co-founder of CarePoint Health, Arnold Schaeffer, founder of Spring Valley Capital and an original senior executive at VeriSign, and Galvanize Ventures.
"Reaching this milestone shows confidence in our ability to continue delivering prescription drug cost and efficacy information to engage consumers, identify medication cost saving opportunities and improve clinical outcomes," said Carm Huntress, CEO of RxREVU. "While we had initially planned on raising much less, the demand for our prescription optimization solutions has been extremely high. We now have the opportunity to expand quickly and are well-capitalized to meet customer demands."
RxREVU has recently announced partnerships with several leading companies delivering solutions for patient engagement to millions of combined users, including Yingo Yango, Medullan and most recently Medical Home Exchange.
A shift-toward value-based medicine is helping to drive growth for RxREVU's solutions. "Cost has been shown to be a major contributor to patients not taking their medication," said Kevin O'Brien, M.D., Chief Medical Officer of RxREVU. "Identifying cost-saving opportunities will improve clinical outcomes through the decreased risk of medication nonadherence. As high-cost specialty drugs become a larger part of healthcare's future, the value RxREVU provides becomes increasingly important to all healthcare stakeholders."
Denver-based RxREVU, Inc. helps patients and payers identify cost saving opportunities on prescription drugs with innovative medication cost/quality prescription optimization solutions. These solutions are available to healthcare customers such as health plans, employer groups and population health organizations through web and mobile consumer applications.
RxREVU is a member of the StartUp Health Academy, a long-term entrepreneurship program to accelerate innovation in health and wellness. StartUp Health has accepted 71 startups to its global program and partners with leading organizations like GE, the Robert Wood Johnson Foundation, the Cleveland Clinic and TEDMED.
For more information visit www.rxrevu.com.
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