Rightway Healthcare Raises $20 Million in Series B Funding
Healthcare advocacy and patient navigation platform, Rightway Healthcare, has raised $20 million in Series B funding led by Thrive Capital. During the announcement, Rightway’s CTO Ion Feldman said one of the company’s biggest goals is to expand its navigation solutions to pharmacy benefits. Rightway’s platform serves as the single point of contact that becomes every employee members’ continual point of contact throughout their healthcare journey. The service is available via smartphone, web and by calling or messaging members’ personalized navigators to guide them with a “doctor in the family” approach to navigation and advocacy.
Building out a pharmacy benefits solution is one of our biggest goals right now, as is continuing to grow our team with top talent in both business and tech.
Rightway’s 2019 in review:
- The company’s customer base has increased 3,100% from 25 companies to over 800, representing 500,000 members nation-wide.
- As of November 2019, Rightway’s total funding now sits at approximately $30 million.
- In February 2019, the company raised $8 million in its Series A financing from new and existing investors. In conjunction with the Series A round, Jonathan Locker, a participating investor, and former partner at Tiger Global Management, joined Rightway’s Board.
- In July 2019, the company announced a strategic partnership with United Benefit Advisors. This partnership allowed Rightway to bring its services to UBA’s exclusive member organizations.
About Rightway Healthcare
Rightway provides members with the support, advocacy, and technology, helping navigate them to the highest quality, most cost-efficient doctors and facilities for their care. This optimization and guidance help to simplify healthcare for members and reduce healthcare costs for organizations.
About Thrive Capital
Thrive Capital is a venture capital investment firm focused on internet and software investments. Since its founding, Thrive has raised from institutional investors, including Princeton University, Wellcome Trust, and Hall Capital. According to a profile in Forbes, Thrive was one of three firms (joining Sequoia Capital and Greylock Partners) to invest in Instagram’s $50 million Series B round at a valuation of $500 million. Forbes wrote that after Instagram sold to Facebook, “Thrive had doubled its money in 72 hours.”