Overland Park’s Rx Savings Solutions has landed another $2.7 million in Series A investment.
The company, founded by pharmacist Michael Rea, plans to use the money to boost its sales and marketing efforts, continue developing its product and research other opportunities for growth. Local businessmen Dan Henry and Jeffrey Brown led this round of investment.
“The industry is ripe for change, and Rx Savings Solutions has positioned itself as a leader in this shift through its vision, positioning and overall strategy,” Henry said in a news release. “With this investment, I look forward to helping them grow and develop both from a business standpoint and within the market.”
Rx Savings Solutions’ platform allows users to find the lowest possible price for their monthly medications. The State of Kansas Employee Health Plan and BH Media Group Inc., a Berkshire Hathaway Company, both use Rx Savings Solutions.
Over the next 12 months, Rx Savings Solutions plans to expand its user base by more than 1 million people. In less than a year and a half, the company has gone from two to 27 employees.
