Rightway Healthcare (Rightway) has raised $155 million in Series E financing as healthcare costs continue to rise faster than inflation, and prescription drugs are projected to be the fastest-growing major category of healthcare spending over the next decade. In 2025, prescription drug spending increased 9.4% among large U.S. employers, outpacing the 6% increase in overall health benefit costs, according to Mercer’s National Survey of Employer-Sponsored Health Plans.
Founded in 2017, Rightway Healthcare has raised approximately $400 million in funding to date, according to our latest Digital Health Funding Dealflow.
Rightway Healthcare protects employers from these rising costs through its SureSpend™ model, which acts as a financial safety net for employee prescription bills. Under this model, Rightway legally guarantees that a company’s total pharmacy bill will never go over a set maximum limit. If employees need expensive medications that standard plans typically exclude from their financial guarantees—like GLP-1 weight-loss drugs—Rightway passes them through at the exact wholesale price and hands 100% of the manufacturer’s discount checks directly back to the company.
Francisco Partners, one of the most active investors in the digital health sector, led the Series E investment round, with follow-on investment from Thrive Capital and Khosla Ventures. Khosla Ventures has invested nearly $10 billion in the digital health sector to date, according to our funding database.
Rightway Healthcare has earmarked fresh funds to expand its AI capabilities and the technology that powers its pharmacy benefits model.
Commenting on the fundraise, Jordan Feldman, Co-founder and CEO of Rightway, said: “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 now serves 45 Fortune 500 companies among its clients.
Rightway Healthcare joins a roster of pharmacy benefits startups that have attracted massive funding rounds. More recently, Angle Health raised $600 million at a $2.7 billion valuation. Angle Health says that since its launch in 2021, the company has grown its footprint to “serving more than 5,000 employers” across 47 states. These 5,000+ businesses use Angle Health’s AI-native platform to provide customized health insurance benefits to their employees. This massive scale is what allows Angle Health to manage nearly $1 billion in annualized premium-equivalents.
In another round, Thatch, a digital health benefits platform, has raised $108 million in a new equity funding round at a $1 billion market valuation to help employers shift from traditional group health plans to a consumer-directed model.
Other new entrants are also gaining quick traction. Corridor recently secured $25 million in a seed round led by Bain Capital Ventures to build an AI-driven health benefits brokerage for small and medium-sized businesses.