NEW YORK, NY, Rightway Healthcare today announced it secured $20 million in a Series B funding round.
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Rightway Healthcare, a New York-based patient navigation and healthcare advocacy platform for employers and their employees, today announced it secured $20 million in a Series B funding round led by Thrive Capital. The financing will be used to expand Rightway's world-class navigation platform and explore new opportunities to deliver its products across the healthcare sector.
"Rightway is modernizing the fragmented healthcare ecosystem by combining its innovative technology with devoted healthcare professionals to provide a high quality, cost efficient navigation platform for employers and their employees," said Kareem Zaki, General Partner at Thrive Capital. "There is significant demand for an improved healthcare navigation solution. We're particularly excited to help Rightway enter into pharmacy benefits, an area perfectly suited for their model. We look forward to working closely with Jordan and his team as they continue to improve patient outcomes and lower healthcare costs for employers."
Rightway works directly with companies to optimize employer expenditure, while delivering complete healthcare navigation solutions through its high-tech, high-touch platform for their employees. Rightway's client base ranges from small firms to large companies including global law firms and public investment banks. With the additional capital from Thrive, Rightway will continue to build its proprietary software and deliver its services to more customers across the healthcare industry, including expanding into the important category of pharmacy benefits.
Jordan Feldman, Rightway's CEO, said, "We are thrilled to announce our successful Series B and to be recognized by Thrive for the impact of our business. Thrive is renowned for building sector-defining healthcare companies, making them the perfect partner for us as we continue to evolve as the leading healthcare navigation company. Their expertise and experience in the industry will help us build our product offerings, capabilities and reach."
Feldman continued, "As we focus on our next phase of growth, we plan on leveraging our unique position within the healthcare ecosystem to increase our breadth of offerings. With the additional capital raised, we will be able to continue to scale our core platform and also begin the work needed to enter into new markets, such as prescription drugs and pharmacy benefits. Our mission is to help our members save time, money and reach the best possible outcomes throughout their healthcare experience, and we look forward to offering our services to more clients across the country."
Today's announcement adds to a tremendous year of growth for Rightway:
In February Rightway announced that it raised $8 million in Series A fundraising
Rightway opened its brand-new office in New York City's Hudson Yards
Rightway's added 50 members to its team since March and plans to double in headcount with top business and technical talent
In nine months, Rightway's customer base increased 3,100% from 25 companies to over 800, representing 500,000 members nation-wide
About Thrive Capital
Thrive Capital is a venture capital firm focused on transformative internet and software investments. Thrive has been deeply involved with a range of healthcare companies helping co-found Oscar Health, Capsule and Cedar, and also investing in companies such as Cityblock, Flatiron Health, hims, Honor, Trialspark and Welkin.
About Rightway Healthcare
Jordan Feldman, Co-Founder and CEO, launched Rightway in 2017. Rightway provides an ecosystem of human service and technology to navigate members to the highest quality care and optimize total healthcare costs. The 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 navigator to guide them with a "doctor in the family" approach to navigation and advocacy. For more information, please visit www.rightwayhealthcare.com.