Rightway Secures $155 Million to Disrupt Pharmacy Benefit Management
As prescription drug spending by large U.S. employers outpaced general health benefit inflation by 9.4% in 2025, pharmacy benefit startup Rightway has raised $155 million in Series E funding. The round, led by Francisco Partners, fuels the company’s push to replace traditional, opaque pharmacy middleman models with transparent, technology-driven alternatives.
Rightway’s platform now manages benefits for nearly 10% of Fortune 500 companies, utilizing a financial structure that removes incentives for high drug pricing. By embedding AI-driven analytics alongside clinical expertise, the company aims to curb the administrative bloat that currently characterizes the pharmaceutical supply chain. Its SureSpend model provides clients with a precision pricing guarantee, covering high-cost medications—including GLP-1s—at net cost with full rebate pass-through.
Co-founder and CEO Jordan Feldman intends to deploy the new capital toward scaling the firm's proprietary technology and expanding its clinical staff. Unlike traditional pharmacy benefit managers, Rightway integrates pharmacists directly into the patient care workflow, shifting the focus from retail transaction volume to medication adherence and value-based outcomes. Francisco Partners, which has invested in over 500 technology companies, joins existing backers Thrive Capital and Khosla Ventures in this latest effort to force accountability onto a sector struggling with rising costs.
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