Rightway is described in the article as a PBM (pharmacy benefit manager) unicorn. The company operates in the pharmacy benefit management space. A recent regulatory filing reported that Rightway raised $109M. The article does not disclose the financing instrument, use of proceeds, or any participating investors. No operating metrics, past rounds, founding year, or location were provided in the article. The report appeared as an exclusive in a Health Tech newsletter. Rightway is a healthcare technology and services company that provides care navigation and pharmacy benefits through a consumer-centric app pairing each member with a live, clinician-led care team. The platform combines expert human guidance with intuitive technology to guide members to the best care and medication at the best price while eliminating wasteful and preventable spend. Rightway currently partners with over 850 employer clients. The company is led by CEO Jordan Feldman and is building out RightwayRx as part of its pharmacy benefits capabilities. Rightway intends to use new funding to expand its presence in the employer market and to accelerate advancement across health plans, third-party administrators and other strategic channels. The company is headquartered in New York City. Rightway provides a high‑tech, high‑touch navigation and advocacy platform for employers and their employees, available via smartphone, web, phone and messaging, with personalized navigators that serve as a single point of contact. The company combines proprietary software and devoted healthcare professionals to steer members to appropriate care and optimize total healthcare costs for employer clients ranging from small firms to global law firms and public investment banks. Rightway reports rapid commercial growth: its customer base grew 3,100% in nine months from 25 companies to over 800, representing roughly 500,000 members nationwide. The company has been scaling its team (adding 50 members since March and planning to double headcount) and opened an office in New York City’s Hudson Yards. With new capital, Rightway plans to continue building its proprietary platform, scale its core product, and expand into new categories such as prescription drugs and pharmacy benefits. The company was founded in 2017 and operates from New York. Rightway Healthcare operates an enterprise healthcare platform that combines cutting-edge technology with dedicated healthcare professionals to provide patient navigation and advocacy for employers and their employees. The platform serves as a single point of contact via smartphone, web, phone and messaging, offering personalized navigators who guide members through their healthcare journeys. Co-founded by Jordan Feldman and Dr. Ted Feldman in 2017, Rightway works directly with employers to optimize healthcare expenditure while improving outcomes, user satisfaction and cost efficiency. The company has expanded from an initial focus in Florida and New York to serve employers nationally, working with organizations ranging from 250 to 10,000 employees across several verticals. The new capital will be used to scale growth by expanding the sales team, increasing the breadth of the product offering and entering new markets. Rightway previously raised $2.0 million in a seed round in November 2017. Rightway Healthcare provides employee-facing care navigation tools that combine human navigators, cost and quality transparency, Mayo Clinic–sourced health education, and patient-specific insights from claims data. The company targets both self-insured and fully-insured employers, with particular focus on small and medium-sized employers facing rising healthcare costs and higher deductibles. CEO and cofounder Jordan Feldman describes the product as an “Expedia-like experience” that creates a roadmap for care after a diagnosis and encourages engagement and advocacy through the care continuum. Rightway’s software is high-touch and tailored, so the company is rolling out slowly and has been live with customers for a few months. Initial deployments are concentrated mainly in Florida and New York, with a few additional customers in other states. Financially, Rightway recently raised $2 million in seed funding from individual investors to support its early commercialization and rollout.

Total raised

$239M

Funding rounds

5

Latest round

Equity

Latest activity

Apr 2024