AUSTIN, Texas, April 20, 2021 /PRNewswire/ — Sopris Capital, a leading healthcare investment firm, is entering the drug cost transparency space with a new partnership with RazorMetrics, a rapidly growing healthcare technology company focused on lowering pharmacy costs for at-risk employers and health plans. The Series A investment of $6,000,000 was led by Sopris and other individual investors including long-term entrepreneurs Joel Trammell and Jonathan Weiner.
Along with the launch of the RazorMetrics Partnership Collective, they will be executing several program rollouts with large, strategic partners with an aggregate reach of over 59,000,000 employees and members in the second quarter of 2021. The new funds will be used to expand current operations to accommodate RazorMetrics’ exponential growth. This will be the last investment round necessary for the company.
“As active investors in technology-enabled healthcare services and SaaS companies, we recognize the compelling and differentiated value proposition of RazorMetrics. Their unique SaaS-based platform to lower drug costs and prioritize prescribers will make an excellent addition to our investment portfolio. We are excited about its trajectory and future growth,” said Mark Groner of Sopris Capital.
“With Sopris, RazorMetrics now has the funding to execute the launch of our Partnership Collective, a string of large-scale partnerships and client relationships,” said Tom Dorsett, CEO and co-founder of RazorMetrics. “RazorMetrics has created a measurable and effective technology solution to explore prescription alternatives and I’m excited to see how far we can take this cutting-edge platform.”
“It is clear that leveraging our low-friction platform technology consistently saves our clients, health plans, and large self-insured employers on their medication spend while also saving their hard-working members and employees on out-of-pocket costs. We are excited that our growth is fueled by being on the right side of this equation, benefiting all of our stakeholders while keeping their members at the center,” said Siva Mohan, MD, President and co-founder of RazorMetrics.
About Sopris Capital
Sopris Capital is a venture capital firm that invests growth equity in technology-enabled business services and SaaS companies that are solving critical pain points. Sopris seeks to be a value-added partner to fast growing companies that have a validated business model, proven product/market fit, and a management team that can capitalize on the opportunity ahead. Learn more at: http://www.sopriscapital.com
RazorMetrics is pioneering the next generation of drug cost savings through a proprietary SaaS-based platform that offers cost control to self-funded employers and health plans, transparency for physicians, and affordable prescriptions for employees and members. For more information, visit razormetrics.com.
Casey DeMoss, RazorMetrics