Overview

Xevant provides pharmacy benefit management (PBM) data analytics solutions to healthcare organizations like PBMs, health plans, and third-party administrators. Its advanced analytics platform offers real-time insights and alerts, helping clients manage pharmacy spending more efficiently and uncover hidden cost-saving opportunities. Unlike competitors, Xevant focuses on automating data analysis to enhance client satisfaction and retention by reducing time spent on administrative tasks. The company's goal is to optimize business processes and improve outcomes for its clients through effective data analytics.

Simplify's Take

What believers are saying

• Xevant's new Biosimilar Dashboard accelerates biosimilar adoption, reducing biologic drug spend.
• The 2023 Drug Trend Report provides insights into pharmaceutical cost drivers, aiding decision-making.
• Significant follow-on investment supports Xevant's accelerated growth and platform enhancements.

What critics are saying

• Emerging analytics platforms could erode Xevant's market share with similar solutions.
• Rapid AI advancements may strain Xevant's resources to keep its platform competitive.
• Data privacy concerns and regulatory scrutiny could impact Xevant's operations and client trust.

What makes Xevant unique

• Xevant offers real-time analytics for pharmacy claims, reducing analysis time significantly.
• The platform autonomously identifies cost-saving opportunities, enhancing client satisfaction and retention.
• Xevant's comprehensive suite includes system implementation, customization, training, and ongoing support.

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Funding

Total Funding

$3.1M

Meets

Industry Average

Funded Over

1 Rounds

$3,110,000

Seed

Dec 2020

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.

Seed Funding Comparison

Meet Average

Industry standards

Ind Avg. $3.3M

$500k

$1.5M

$2M

$2.3M

$3M

$3.1M