Xevant

Pharmacy benefit management data analytics solutions

Draper, Utah, United States

About Xevant

Xevant specializes in pharmacy benefit management (PBM) data analytics solutions aimed at improving efficiency in the healthcare sector. The company provides a platform that offers real-time insights and alerts to PBMs, health plans, third-party administrators (TPAs), and broker organizations, helping them manage their pharmacy spending more effectively. Xevant's platform automates data analysis to uncover hidden issues that could lead to higher costs, ultimately saving clients money. This automation also enhances client satisfaction by streamlining processes like claims management and quarterly reviews. Xevant generates revenue through subscription fees for its analytics platform, along with additional services such as customization and training. The company's goal is to act as a virtual pharmacy expert, continuously analyzing data to identify cost-saving opportunities and improve outcomes for its clients.

Draper, UtahHeadquarters
2017Year Founded
$3MTotal Funding
SEEDCompany Stage
Data & Analytics, HealthcareIndustries
51-200Employees

Benefits

Health Insurance
Dental Insurance
Vision Insurance
Disability Insurance
Remote Work Options
Hybrid Work Options
Unlimited Paid Time Off
Parental Leave
Stock Options

Risks

Increased competition in PBM analytics could erode Xevant's market share.
Rapid technological advancements may strain Xevant's financial resources for R&D.
Data privacy concerns could arise due to handling sensitive healthcare data.

Differentiation

Xevant's platform automates pharmacy claims data analysis, saving clients time and money.
The company offers real-time insights and alerts, enhancing decision-making for PBMs and health plans.
Xevant provides comprehensive services including system implementation, customization, and ongoing support.

Upsides

Xevant's new Executive Dashboard keeps clients ahead in managing pharmacy benefits.
The 2023 Drug Trend Report offers valuable insights into pharmaceutical cost drivers.
Significant follow-on investment supports Xevant's accelerated growth and platform enhancements.

Funding

Total raised$3.03 M
Latest valuation$15.55 M
StageSEED
SEED
11/30/2020
$3
$15.55 M