SmithRx, a pharmacy benefits management company, announced the closing of a $20 million series B financing round. Venrock led the oversubscribed round and was joined by existing investors, including Founders Fund.

SmithRx reduces total drug costs and improves health outcomes with 100% pass-through pricing and the world's most advanced PBM technology. With hundreds of broker and TPA partners, SmithRx has simplified pharmacy benefits with its leading-edge technology and easily-integrated cloud infrastructure, resulting in lower pharmacy costs for employers.