Rightway Raises $155M for Pharmacy Benefit Management Innovation

In a significant move to address escalating healthcare expenditures, Rightway, a company focused on transforming pharmacy benefit management and care navigation, has successfully closed a $155 million Series E funding round. The investment was spearheaded by Francisco Partners, a prominent global investment firm with a strong track record in technology. Existing backers Thrive Capital and Khosla Ventures also participated, underscoring their continued confidence in Rightway's disruptive model.

This substantial capital infusion arrives as employers increasingly demand greater transparency and accountability in their pharmacy benefit spending. Prescription drugs represent a rapidly growing segment of overall healthcare costs, projected to outpace inflation significantly. In 2025, U.S. employers saw prescription drug costs climb by 9.4%, a rate considerably higher than the 6% rise in total health benefit expenses. Rightway's innovative approach directly confronts the inefficiencies and misaligned incentives within the traditional pharmacy supply chain, which often inflate costs without proportional improvements in patient care.

Rightway has distinguished itself by aligning its financial incentives with better patient outcomes and cost containment, a stark contrast to models that may profit from higher drug prices. The company's proprietary SureSpend™ model features a Precision Pricing Guarantee, capping total pharmacy expenditure, and a Zero-Markup Wrap that covers specialized medications like GLP-1s and high-cost drugs at net cost, ensuring full rebate pass-through. This commitment to transparency and value has attracted a significant client base, now including nearly 10% of the Fortune 500.

The newly acquired funds will be instrumental in accelerating Rightway's expansion of its artificial intelligence capabilities and the underlying technology powering its unique pharmacy benefits platform. Jordan Feldman, Co-Founder and CEO of Rightway, emphasized the company's mission: "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." He further noted that by optimizing one of the largest and fastest-growing employer healthcare expenses, Rightway contributes to making healthcare more affordable for both organizations and their employees.

Beyond pharmacy benefits, Rightway's care navigation services extend its member-centric philosophy across the broader healthcare ecosystem. By integrating clinical expertise with advanced technology, the company guides members toward appropriate, cost-effective treatments and high-quality care providers. This holistic strategy aims to enhance member experiences while delivering measurable savings for plan sponsors. Kristin Devlin, PharmD, Chief Pharmacy Officer, highlighted the return of pharmacists to their core mission: "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."

The strategic investment from Francisco Partners, known for its deep expertise in technology and healthcare, signals strong market validation for Rightway's differentiated approach. Ezra Perlman, Co-President at Francisco Partners, commented, "We believe Rightway is well positioned to meet that demand with a differentiated model that combines aligned incentives, technology and clinical expertise." This partnership is expected to fuel Rightway's continued growth and scale, further solidifying its position as a leader in the next generation of pharmacy benefit solutions.