Rightway, a pharmacy benefit management and care navigation company, has raised $155 million in Series E funding to expand its technology and help employers manage rising healthcare and prescription drug costs.
The round was led by Francisco Partners, with participation from existing investors Thrive Capital and Khosla Ventures.
Rightway will use the new funding to expand its AI capabilities and technology platform, supporting the company’s pharmacy benefits and healthcare navigation services.
The company currently works with 45 Fortune 500 companies, helping employers manage pharmacy spending while providing employees with access to clinical guidance and healthcare navigation.
“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. If we can help employers get more from one of their largest and fastest-growing healthcare expenses, we make healthcare more affordable for companies and the people who work for them.”
Rightway combines pharmacy benefits management with pharmacist-led support to help members identify appropriate medications and lower-cost treatment options. Its care navigation platform also helps members find healthcare providers and make better use of their health benefits.
The company offers its SureSpend model, 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 high-cost rare-disease drugs at net cost, with rebates fully passed through.
“Pharmacists go into healthcare to help people, but the realities of retail pharmacy have made it harder for them to spend time doing that,” said Rightway’s Chief Pharmacy Officer, Kristin Devlin, PharmD. “At Rightway, we’re creating a space for pharmacists to return to what they do best: making sure people are getting the treatment that is right for them and helping them navigate questions and concerns along the way.”
“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. We look forward to leveraging our deep expertise in healthcare technology to support Jordan and the Rightway team as they continue to grow and scale the business.”
Rightway said the latest financing will support its next phase of growth as employers look for greater transparency and accountability in pharmacy spending.
The company aims to combine clinical expertise, technology and AI to improve healthcare outcomes while helping employers control costs.
