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SmithRx

Pharmacy benefit management platform for transparent drug cost savings.

Discussion
health-techhealthcareinsurancepharmaceuticals

Company facts

Series C-stage
Founded
2016
Employees
550
Headquarters
United States
CEO
Jake Frenz
Type
Private
Funding
Series C · $60M · 2024
Subsidiaries
White Well PBM

About

SmithRx is on a mission to reduce the the complexity and costs of pharmacy benefits with radical transparency and cutting-edge technology. To learn about SmithRx is to learn about the healthcare journey of our founder, Jake Frenz– one that is all too relatable by many Americans. At 22, Jake stepped into a caregiving role during his father's battle with cancer. Soon after, he faced his own cancer diagnosis that threatened the amputation of his leg. Many years later, he once again faced the complexities of managing specialty medications for his mother during her own long-term illness. Jake’s personal experiences underscored some of the profound failings of the U.S. healthcare system, resulting in a deep personal connection to the struggles many face accessing necessary treatment. These systemic inefficiencies drove Jake to establish SmithRx, aiming to instill transparency and fairness in pharmacy benefits management—an area often marked by opacity and injustice. His initiative—now our collective mission—seeks to reform an essential segment of healthcare, promoting a significant shift towards equity, efficiency, and genuine human compassion. Our Values At SmithRx, our guiding principles—Courage, Integrity, and Together—serve as our north star, shaping our culture, grounding our decisions, and fostering our partnerships. Courage: We face continuous challenges with grit and resilience. We embrace discomfort of the unknown by balancing autonomy with empathy, and ownership with vulnerability. We boldly challenge the status quo to keep moving forward, always. Integrity: Our purpose guides our actions and provides us with confidence in our path forward. Our honesty and dependability unwavering, SmithRx embraces the heated pressure of challenging the old, and exemplifies ethical leadership to create the new. Together: The success of SmithRx is a reflection of the strength of our partnerships, and the commitment of our team. Our values glue us together and create one from many. When one falls, we all fall; when one rises, we all rise.

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