We are thrilled to announce our investment in RxVantage, a software and data platform connecting healthcare professionals and life science experts.
RxVantage sits at the intersection of two key segments for Spectrum Equity – digital health and data analytics – and we’re excited to draw on our experiences working with portfolio companies like Definitive Healthcare, GoodRx, and EverlyHealth, to accelerate growth.
While RxVantage has scaled quickly, adding more than 100 new employees in 2021, the company’s laser focus on serving healthcare professionals and building meaningful connections between its users has resulted in strong engagement and a remarkable renewal rate of 100 percent among customers. As the company continues on its growth trajectory, we are looking forward to working in partnership with the entire team at RxVantage.
For more information on RxVantage and our investment, please read the below blog post by founder and CEO Dan Gilman.
We’re pleased to announce our latest investment, led by Spectrum Equity and McKesson Ventures. These investors join our existing team which includes dRx Capital (Novartis), Merck Global Health Innovation Fund, Javelin Venture Partners and Slater Technology Fund.
RxVantage’s core technology enables healthcare professionals and life science experts to partner effortlessly, securely and seamlessly so medical practices can get the resources they need, exactly when and where they need them. This investment comes after a tremendous period of organic growth at RxVantage, during which we’ve welcomed more than 2,500 leading medical practices to our network, grown to over 55,000 active life science experts, and expanded to over 70 direct partnerships with life sciences companies. We’ve also added more than 100 amazing people to the RxV team, organically and via the acquisition of onPoint oncology, and we will more than double the team again in the coming months.
We’re proud of what we’ve achieved and are even more excited about the future. The rapid pace of innovation in medical technology and the ever-increasing complexity of treatment protocols require healthcare professionals and life science companies to partner more efficiently and effectively than ever before. Our “provider-first” approach powers these partnerships, increasingly through virtual engagements on our platform, and helps elevate the practice of medicine for providers, life sciences, and patients.
In short, we are powering smarter connections.
Each day, our team works tirelessly on behalf of our community of healthcare and life sciences professionals to deliver these smarter connections and build our community. They are truly world-class and we are grateful for their hard work and dedication. This new funding will help us accelerate our vision by bringing more doctors and medical practices into our network and delivering new innovations that meet the evolving needs of our extraordinary community.
We are excited to welcome Spectrum Equity and McKesson Ventures as investors and partners. Moreover, we are excited to further our mission and find new ways to support our provider and life science communities amidst unprecedented disruptions and new engagement models.