GoodRx receives strategic investment from Silver Lake

Prescription and healthcare savings platform GoodRx has received a strategic growth investment from Silver Lake.

The value of the transaction was not disclosed.

Founded in 2011, GoodRx delivers a real-time platform which collates all current retail prices for prescriptions in pharmacies across the US and finds coupons/discounts to help users make savings.

Since the platform launched, it has helped save more than $6.5bn and is used by over 10 million US citizens each month to save money on healthcare bills, according to GoodRx.

As part of the transaction, Silver Lake managing partner Greg Mondre, and director Adam Karol, will both join the company’s board.

Some of the company’s existing investors include Francisco Partners and Spectrum Equity, which have both backed GoodRx since 2015.

“Since inception, GoodRx’s mission has been to make it easy for all Americans to more affordably access much needed medication,” said Chris Adams, co-head of Healthcare IT at Francisco Partners. “It has been a true pleasure to be their partners and help them grow their impact.”

Earlier in the year, Silver Lake took part in the colossal $14bn funding round of Ant Financial, the payment’s affiliate of Alibaba. The firm also teamed up with P2 Capital Partners for the $3.5bn acquisition of Blackhawk Network, a physical and digital gift card developer.

Within the personal finance space, Silver Lake recently made a $500m secondaries investments into Credit Karma. The company offers consumers a tool suite to monitor and improve their credit health and manage their income taxes.

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