Pharmacy benefit manager startup Capital Rx gets $106M in funding

Tech-powered pharmacy benefit startup Capital Rx has closed on $106 million in series C funding as it aims to expand its efforts to better coordinate prescribing.

The company's platform includes such features as claims adjudication, prior authorization and billing and reimbursement, and serves entities including health plans, health systems and prescribers.

"Our country cannot continue to operate on disparate and antiquated technology, and our goal is to provide our nation the infrastructure it needs for the healthcare system we deserve," Capital Rx CEO AJ Loiacono said in a June 13 company news release.

The startup said its membership has doubled in the last year and that it expects to add 1 million patients for the 2023 plan year.

The investment round was led by B Capital and also featured General Catalyst. It increases Capital Rx's overall funding to $175 million.

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