GoodRx operates a real-time market-intelligence platform that gathers retail prescription prices and coupons across virtually every pharmacy in the United States. Its website and mobile apps are used by more than 10 million Americans. The company received a strategic growth investment from Silver Lake; financial terms were not disclosed. Silver Lake joined existing investors Francisco Partners and Spectrum Equity as part of the transaction. In conjunction with the funding, Silver Lake's Greg Mondre and Adam Karol will join GoodRx's board. GoodRx intends to use the funds to continue to expand operations and is led by Co-CEOs Doug Hirsch and Trevor Bezdek. GoodRx operates a prescription price transparency platform that aggregates up-to-date prices, co-pays, and discounts on medications from nearly every pharmacy in the country. It provides this pricing information to consumers via mobile and web experiences. The company’s app is free and available on iOS and Android and can be used by anyone regardless of insurance or Medicare status. GoodRx is led by co-CEOs Doug Hirsch and Trevor Bezdek. In September 2015 the company received a private equity investment of an undisclosed amount. The firm said it will use the funds to expand operations. GoodRx offers a web service and free iPhone app that returns price lists and maps for brand-name and generic prescription drugs by zip code, plus coupons, savings tips, refill reminders, and email price alerts. Its database already contains over one million prices for more than 6,000 drugs. The founders, Scott Marlette and Doug Hirsch, are early Facebook employees who applied consumer-tech models and transparency to pharmacy pricing. The company also provides a Spanish-language version of its service. GoodRx plans to expand the site to better explain savings opportunities for insured consumers, offer more education on brand vs. generic choices and therapeutic equivalents, and improve user-facing information. The seed funding will be used to ramp up hiring and continue product development. The company is Los Angeles–based and launched publicly at Health 2.0 events.

Total raised

$1M

Funding rounds

3

Latest round

Seed

Latest activity

Feb 2012