Rightway Raises $155 Million as it Leads the Next Generation of Pharmacy Benefits

Francisco Partners leads investment as nearly 10% of the Fortune 500 have moved pharmacy benefits to Rightway's aligned model.

NEW YORK, Sept. 24, 2026 /PRNewswire/ -- Rightway, a pharmacy benefit management and care navigation company, today announced that it has raised $155 million in Series E financing led by Francisco Partners, a leading global investment firm that specializes in partnering with technology companies, with participation from existing investors Thrive Capital and Khosla Ventures. The investment will support Rightway's next phase of growth as employers seek greater accountability for pharmacy spending and better support for their members.

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. Employers are paying for bloated administrative overhead and a set of incentives that reward the middle of the supply chain when drug prices go up rather than down. Rightway's model offers one of the clearest opportunities to change that trajectory by managing costs more effectively while improving the care people receive.

Rightway now counts 45 Fortune 500 companies among its clients. Its approach combines an aligned financial model that removes all incentives to profit from higher drug spend with a clinical model that puts pharmacists to work guiding members to the most appropriate medications at the lowest cost. The company's care navigation offering extends that model across healthcare, helping members find high-quality care and get more from their benefits. Plan sponsors partner with Rightway to deliver more value from every healthcare dollar for their organizations and their members.

Rightway backs that financial alignment with its SureSpend™ model. The Precision Pricing Guarantee sets a maximum on total pharmacy spend. The Zero-Markup Wrap covers categories commonly excluded from pharmacy spending guarantees, including GLP-1s and rare high-cost medications, at true net cost with 100% rebate pass-through.

"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 will use the Series E financing to expand its AI capabilities and the technology that powers its pharmacy benefits model. "The pharmacy supply chain carries a lot of cost that has nothing to do with the medication itself," said Feldman. "Our technology and AI pull costs out of a bloated ecosystem that has failed to be efficient and transparent. That combination of better economics, better technology, and human clinical expertise means better care for members and lower costs for employers."

"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."

To learn more about Rightway's pharmacy benefits and care navigation solutions, visit www.rightwayhealthcare.com.

About Rightway
Rightway is transforming pharmacy benefits and care navigation with a member-first approach that blends expert clinical guidance, high-touch service, and intuitive technology. Rightway delivers personalized, evidence-based support that improves outcomes, drives engagement, and reduces costs. Rightway was the first PBM to integrate pharmacy navigation from clinical experts, guiding members to high-value medications while delivering fully aligned pricing, 100% transparency, and a total spend guarantee. Its care navigation solution simplifies healthcare with proactive, clinician-led support, creating better experiences for members and measurable savings for employers. With Rightway as their healthcare benefits partner, employers don't have to compromise on employee health, happiness, or their company's results. Learn more at www.rightwayhealthcare.com.

About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in over 500 technology companies, making it one of the most active and longstanding investors in the technology industry. With over $75 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

Media Contacts
Rightway
Rita Lebedeva
Press@rightwayhealthcare.com 

Francisco Partners
Prosek Partners
pro-FP@prosek.com 

SOURCE Rightway