Company intelligence
As of September 25, 2026, Rightway was last valued at $1.75B (Bloomberg) and has raised at least $155M in equity across 1 sourced funding round.
The company said it will use the Series E to expand its AI capabilities and the technology behind its pharmacy benefits model.[1] Rightway also offers a SureSpend model and a care navigation service that helps members find care across their health benefits.[1] Rightway is a New York pharmacy benefit management and care navigation company that sells to employers.[1]
Its model pairs pricing that removes incentives to profit from higher drug spend with pharmacists who guide members to appropriate medications at the lowest cost.[1] Rightway says 45 Fortune 500 companies are now its clients.[1]
Rightway is a New York pharmacy benefit manager and care navigation company that announced a $155M Series E led by Francisco Partners in September 2026.
Rightway is a pharmacy benefit management (PBM) and care navigation company based in New York that sells to employers. Its site describes pharmacist-led PBM services and clinician-led care navigation delivered through a mobile and web app.[1],[2],[3],[4]
Rightway says its PBM revenue comes from a single transparent fee. Healthcare Brew reported in September 2025 that Rightway's PBM passes through 100% of rebates to its employer clients. Managed Healthcare Executive reported in January 2024 that the company does not retain rebates or use spread pricing.[2],[5],[6]
Rightway's SureSpend model backs that pricing with guarantees. The Precision Pricing Guarantee sets a maximum on total pharmacy spend, and the Zero-Markup Wrap covers categories commonly excluded from spending guarantees, including GLP-1s and rare high-cost medications, at true net cost with 100% rebate pass-through.[1],[5]
Rightway's care navigation service helps members understand their benefits, handle billing issues and find care, and proactively reaches out to at-risk members, according to the company's site. Rightway also says its pharmacists guide members to the most appropriate medications at the lowest cost.[2],[1]
Fortune reported in October 2024 that two million people had access to Rightway through their employers. Rightway's site lists a member Net Promoter Score of 70, which the company describes as 8.5 times the industry average.[7],[2]
Rightway was founded in 2017 by CEO Jordan Feldman and Dr. Theodore Feldman, who serves as Chief Medical Officer. The about page says Jordan Feldman's father, Dr. Ted Feldman, was a cardiologist and that the two built Rightway together to give members access to information, guidance and support. Fortune and Managed Healthcare Executive also date the founding to 2017.[5],[8],[7],[6]
Rightway filed its first Form D in March 2019 under the former name Roadmap Healthcare, Inc.[9]
Fortune reported that the PBM portion of Rightway's business was incubated with Thrive Capital in 2019, with the aim of building a competitor to the largest PBMs.[7]
Rightway announced a $155 million Series E on September 24, 2026, led by Francisco Partners with participation from existing investors Thrive Capital and Khosla Ventures. The announcement came as a paid PR Newswire release carried by Yahoo Finance, so these terms are Rightway's own statement. The release does not state a valuation.[1]
Rightway said it will use the Series E to expand its AI capabilities and the technology that powers its pharmacy benefits model. Francisco Partners Co-President Ezra Perlman said in the release that employers are demanding greater accountability, transparency and value from their healthcare partners.[1]
A Form D filed with the SEC on September 8, 2026 reports $154,999,891 sold in an equity offering, a first sale on August 25, 2026 and six investors. The filing does not name the round or its investors.[4]
Fortune reported in October 2024 that Rightway's backers include Khosla Ventures and Tiger Global, that the company was valued at $1.1 billion in 2021, and that Rightway declined to disclose its latest valuation.[7]
AlleyWatch reported on September 9, 2026 that Rightway Healthcare has raised $394.3 million in total funding to date. The sources reviewed do not include a total from Rightway itself.[10]
Rightway's about page lists a Bloomberg article dated September 25, 2026 and headlined "Pharmacy Benefits Firm Rightway Eyes IPO After New Funding." No IPO filing or date appears in the sources reviewed.[8]
Rightway's co-founders are Jordan Feldman, Co-Founder and Chief Executive Officer, and Dr. Theodore Feldman, Co-Founder and Chief Medical Officer, according to the company's about page.[8]
Rightway's about page lists senior leaders Ryan Belkin, EVP of Growth; Chris Bernal, VP, Head of PBM Enterprise; Paula Bush, EVP of Advocacy Strategy and Delivery; Edwin Capetillo, VP of PBM Operations; Steven Chavez, VP of Navigation Service Delivery; David Coe, VP of Data and Analytics; William Decherd, EVP of Client Success and Commercial Operations; and Xavier Del Rosario, VP of Finance and Business Operations.[8]
Kristin Devlin, PharmD, is Rightway's Chief Pharmacy Officer, according to the September 2026 Series E release.[1]
Rightway's September 2026 Form D lists Jordan Feldman and Theodore Feldman as executive officers and directors, and Jonathan Locker, Kareem Zaki, Samir Kaul and Michael Lynton as directors. The filing does not state the directors' employers. Fortune identified Zaki as a Thrive partner in October 2024.[4],[7]
Rightway's September 2026 release says the company now counts 45 Fortune 500 companies among its clients. The same release says nearly 10% of the Fortune 500 have moved pharmacy benefits to Rightway's aligned model.[1]
Tyson Foods replaced CVS Caremark with Rightway as its PBM effective January 1, 2024, according to Managed Healthcare Executive, while CVS Caremark continued to provide specialty benefits. Healthcare Brew separately reported that Tyson Foods switched to Rightway in early 2024.[6],[5]
Fortune reported in October 2024 that Rightway's corporate customers include Tyson, eBay and Qualtrics. Managed Healthcare Executive also reported that Rightway was the first PBM added to the Mark Cuban Cost Plus Drug network.[7],[6]
Healthcare Brew reported that Rightway lowered pharmacy spend for its clients by about 16% in year one, according to the company's 2024 annual report. Managed Healthcare Executive reported in January 2024 that Rightway says its pharmacists save 15% in pharmacy costs. These are company-reported figures, and the sources reviewed contain no independent verification.[5],[6]
Rightway also sells to health systems, which can use it to help their own employees reach high-value care and medications, according to its solutions page.[3]
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| Date | Round | Amount | Valuation | Lead investors | Source |
|---|---|---|---|---|---|
| Sep 25, 2026 | Series E | $155M | $1.75Bpost-money | PR NewswirePulse story |
Equity only. “Equity raised” above sums the rounds with a dated, linked source; rumored rounds, tender offers and secondary sales are listed but not counted, and debt financing is listed separately.
On September 24, 2026, Rightway announced a $155 million Series E led by Francisco Partners, with existing investors Thrive Capital and Khosla Ventures participating.[1]
OpenEvidence, Precision Neuroscience and Rightway alone pulled in more than $655 million in late-September rounds, underscoring how much AI capital is now flowing into healthcare specifically.
Rightway raised $155 million in Series E funding led by Francisco Partners as the pharmacy-benefits startup takes aim at the CVS Caremark, Express Scripts and Optum Rx oligopoly.
On September 24, 2026, Rightway announced a $155 million Series E led by Francisco Partners, with existing investors Thrive Capital and Khosla Ventures participating.[1]
Jordan Feldman is co-founder and CEO.[1]
Rightway also offers a SureSpend model and a care navigation service that helps members find care across their health benefits.[1]
Rightway was last valued at $1.75B, according to Bloomberg (September 24, 2026).
Rightway has raised at least $155M in equity across 1 sourced funding round tracked by Value Add VC. The most recent was a $155M Series E in September 2026 at a $1.75B post-money valuation, reported by PR Newswire. Debt financing, tender offers and secondary sales are not counted.
Rightway is headquartered in New York, New York, USA, according to PR Newswire (Rightway release, New York dateline).
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.
Withheld from the headline: total funding — sources disagree for the same period and a review is pending.