Health Care Startup Rightway Raises $155M in Series E Funding

The round also saw participation from Thrive Capital and Khosla Ventures.

The company plans to use the funding to expand its AI capabilities and the technology supporting its pharmacy benefits model.

What is Rightway?

Rightway provides pharmacy benefit management and care navigation services for employers and their employees.

The company combines pharmacy benefits with clinical guidance from pharmacists to help members choose appropriate medications at lower costs. Its care navigation platform also helps members find quality healthcare and better understand and use their benefits.

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Rightway's platform is designed to help employers manage healthcare spending while giving employees access to personalized clinical support.

How Much Funding Has Rightway Raised?

Rightway has raised $155 million in its latest Series E funding round.

The round was led by Francisco Partners, with participation from Thrive Capital and Khosla Ventures. The source does not provide Rightway's total funding raised to date or details of previous funding rounds.

Who Invested in Rightway’s Series E?

The Series E round was led by Francisco Partners.

Other participating investors included:

• Thrive Capital
• Khosla Ventures

Why the Funding Matters

Rightway plans to use the new funding to expand its AI capabilities and further develop the technology behind its pharmacy benefits model.

The company aims to continue improving how pharmacy benefits and healthcare navigation are delivered to employers and their members.

Who founded Rightway?

Rightway was founded in 2017 by Jordan Feldman and Theodore Feldman.

The company is headquartered in New York City and focuses on pharmacy benefits and care navigation.

Leadership Comments

"No one is better positioned to manage the pharmacy benefit than Rightway," said Jordan Feldman, Rightway's Co-Founder and CEO. "We built our financial model to reward getting members onto high-value drugs, and we embedded clinicians in the workflow and AI on the backend to do it.

"As healthcare becomes increasingly complex, employers are demanding greater accountability, transparency, and value from their healthcare partners," said Ezra Perlman, Co-President at Francisco Partners. "We believe Rightway is well positioned to meet that demand with a differentiated model that combines aligned incentives, technology and clinical expertise to help employers better manage pharmacy costs while improving the member experience.

Market and Business Growth

Rightway currently serves 45 Fortune 500 companies.

The company's pharmacy benefits model includes its SureSpend program, which includes a Precision Pricing Guarantee that sets a maximum on total pharmacy spending.

Its Zero-Markup Wrap covers categories such as GLP-1 medications and rare high-cost drugs at true net cost, with 100% rebate pass-through.

What Happens Next?

Rightway plans to invest in its AI capabilities and pharmacy benefits technology following the Series E funding.

The company will continue expanding its pharmacy benefits and care navigation platform for employers and their members.

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