Rightway Valuation, Funding & Investors
Rightway is valued at $1.1B as of March 2021.
Last Rightway valuation
$1.1B
Series C · Mar 2021
Last Rightway funding round
$155M
Undisclosed stage · Sep 2026
Cumulative funding Rightway raised
$394M
across 6 funding rounds
Key investors in Rightway
Tiger Global
Thrive Capital
Khosla Ventures
Jaws Ventures
Vine Ventures
About Rightway
Rightway is a Sugar Land-headquartered healthcare navigation company that delivers personalized guidance through its Care Concierge service and pharmacy benefit management platform to employers across the United States. The platform connects members to high-quality providers and medications, resulting in lower costs and higher engagement rates for clients such as Uber and Yum Brands. Operating since 2016, Rightway supports over 1,000 employers and serves millions of members nationwide, focusing on chronic conditions like diabetes and maternity care to drive measurable reductions in healthcare spending.
Founded
2017
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1.1B (Mar 2021)
Rightway Valuation
Rightway is currently valued at $1.1B, based on its Series C in March 2021.
The $100M round was led by Khosla Ventures, with participation from Tiger Global and Thrive Capital.
Rightway valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2021 | Series C | $1.1B |
Rightway Funding History
Rightway has raised a total of $394M across 6 funding rounds.
Rightway's first fundraising round was a $2M seed round in November 2017. The most recent completed round was a $155M undisclosed-stage round in September 2026.
Rightway funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Undisclosed stage | - | $155M | - | - |
| Mar 2024 | Undisclosed stage | - | $109M | - | Rightway is a New York-based healthcare technology company founded in 2017 that provides a cloud-based employee health benefits platform, including care navigation, expert-led guidance, health risk assessment, pharmacy benefit management, telehealth, and pharmacy services to support employee health and wellness. It transforms pharmacy benefits and care navigation with a member-first approach blending clinical guidance, high-touch service, and technology, serving over four million members across enterprise clients. Rightway positions itself as a disruptive PBM with integrated navigation, fully aligned pricing, 100% transparency, and a total spend guarantee, aiming to improve outcomes, engagement, and cost reduction for employers. On March 25-29, 2024, Rightway raised $109 million (or $108.75M) in its Series D funding round to enhance employee health technology and expand its enterprise client base, following a $100M Series C in March 2021 led by Khosla Ventures at $1.1B valuation, with total funding reaching ~$239M-$349M. Key investors include Thrive Capital, Tiger Global Management, and Khosla Ventures. The 2021 round funded platform scaling, care navigation, telehealth, and development of RightwayRx PBM to address pharmacy benefits issues. Rightway serves over 500k members across 850 clients as of 2021, growing to two million people with access via employers and four million members by 2024, with 194 employees noted in 2021 and 250% headcount increase post-Series C. The company competes in the $500B employer pharmacy spend market against traditional PBMs, alongside VC-backed players like SmithRx and Cost Plus Drugs. |
| Mar 2021 | Series C | Khosla Ventures (lead); Tiger Global; Thrive Capital | $100M | $1.1B | Rightway is a New York City-based healthcare technology and services company that provides care navigation and pharmacy benefits solutions through a consumer-centric app, pairing members with live, clinician-led care teams to guide them to optimal care and medications at the best prices while reducing wasteful spend. The company partners with over 850 employer clients and supports more than 500,000 members. On March 30, 2021, Rightway raised $100 million in Series C funding at a $1.1 billion valuation, led by Khosla Ventures with participation from Thrive Capital, Tiger Global Management, and other existing investors. Samir Kaul from Khosla Ventures joined the board. The funding proceeds are intended to expand Rightway's presence in the employer market, advance across health plans, third-party administrators, and other channels, and accelerate development of RightwayRx, its proprietary pharmacy benefits manager (PBM) platform aimed at rearchitecting the traditional PBM model through stakeholder alignment, risk-based engagement, and clinical protocols to optimize medication utilization. Rightway positions itself to disrupt the $500 billion employer pharmacy spend market by addressing transparency and alignment issues in traditional PBMs. Prior to this round, the company had raised over $130 million total. Rightway's approach combines human expert guidance with intuitive technology to improve healthcare outcomes and lower costs for clients, serving as a digital-first front door in the enterprise healthcare ecosystem. The Series C brings total funding to date beyond $130 million, with plans to strengthen its foothold among employers and health plans amid growing investment in mHealth apps, which saw $1.4 billion raised in 2020. |
| Nov 2019 | Series B | Thrive Capital (lead) | $20M | - | Rightway Healthcare, a New York-based patient navigation and healthcare advocacy platform for employers and employees, raised $20 million in a Series B funding round on approximately November 15-21, 2019, led by Thrive Capital. The financing was announced to expand Rightway's proprietary software, care navigation platform, and explore opportunities in pharmacy benefits and other healthcare sectors. Thrive Capital's General Partner Kareem Zaki highlighted Rightway's innovative technology combined with healthcare professionals to modernize the fragmented ecosystem, optimize employer costs, and improve outcomes. CEO Jordan Feldman noted Thrive's expertise in building sector-defining healthcare companies. Rightway serves a client base from small firms to large companies, including global law firms and public investment banks, delivering high-tech, high-touch navigation solutions. The round aligns with November 2019 health IT funding activity, where Rightway's $20 million Series B was listed among noteworthy investments alongside others like Deep 6 AI and Wellframe. This Series B followed a Series A in February 2019 raising approximately $8.59 million and preceded a Series C in March 2021, where Rightway raised $100 million at a $1.1 billion valuation led by Khosla Ventures with Thrive Capital participating. By the Series C, Rightway had grown to serve over 500,000 members across 850 clients, launched RightwayRx PBM delivering 20% year-one pharmacy cost savings, and raised over $130 million total. The company positions itself against traditional PBMs in the $500 billion employer pharmacy spend market, focusing on transparency, member-centric engagement, and cost reduction. |
| Feb 2019 | Series A | Tiger Global (lead); Jaws Ventures; Vine Ventures | $8M | - | Rightway Healthcare, a New York-based patient navigation and advocacy platform for employers and employees, raised $8 million in its Series A funding round in February 2019 from new and existing investors including strategic family offices. Jonathan Locker, a former partner at Tiger Global Management and participating investor, joined the board. The company previously raised $2 million in a seed round in November 2017. Funds were allocated to expand the sales team, enter new markets, and broaden the product offering, which combines technology, analytics, predictive modeling, and clinical guides to optimize healthcare costs and outcomes for employers with 250 to 10,000 employees across sectors like business, technology, professional services, and labor unions. |
| Nov 2017 | Seed | - | $2M | - | - |
Who has invested in Rightway?
5 investors have backed Rightway across its funding rounds, including Tiger Global, Thrive Capital, Khosla Ventures, Jaws Ventures and Vine Ventures.
Lead investors include Khosla Ventures, Thrive Capital and Tiger Global.
Rightway Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 2 | Lead | Feb 2019 | |
| New York City, NY | 2 | Lead | Nov 2019 | |
| Miami, FL | 1 | Participant | Feb 2019 | |
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Start Free TrialRightway Competitors
Rightway competitors include listed companies like Value HR and PHC Holdings, and private ones like MediTrust Health, Collective Health, IntelyCare and Elemy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Shanghai | Private | $154M | - | $1.4B | 9.3x | |
| San Francisco, CA | Private | - | - | $1.5B | - | |
 Japan | Publicly listed | $65M | $9M | $270M | 4.1x | |
| Boston, MA | Private | - | - | $1.1B | - | |
| Japan | Publicly listed | $2.3B | $320M | $1.1B | 1.0x | |
| San Francisco, CA | Private | - | - | $1.1B | - |
Rightway Public Comps
Rightway is still privately-owned, but its public comps include PHC Holdings, GoodRx, Vitec Software, iFLYHealth, U.S. Physical Therapy, Eurowag, HealthStream, MedicalSystem Technology, Hangzhou Pinming Software and EverCommerce.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.3B | $320M | 1.0x | 1.0x | 7.2x | 6.5x | |||
| $797M | $173M | 1.8x | 1.8x | 8.1x | 5.5x | |||
| $371M | $151M | 3.7x | 3.5x | 9.1x | 9.0x | |||
| $136M | ($7M) | 7.7x | 6.2x | (150.8x) | (144172.5x) | |||
| $781M | $110M | 2.5x | 2.3x | 17.5x | 18.9x | |||
| $2.7B | $119M | 0.5x | 3.0x | 10.3x | 7.5x | |||
| $304M | $63M | 2.8x | 2.6x | 13.2x | 11.2x | |||
| $45M | $12M | 18.9x | 15.6x | 70.7x | 62.9x | |||
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Common questions about Rightway
| When was Rightway founded? | Rightway was founded in 2017. |
| Where is Rightway headquartered? | Rightway is headquartered in New York City, NY, United States. |
| Is Rightway publicly listed? | No, Rightway is a private, VC-backed company. |
| What is Rightway's valuation? | Rightway was last valued at $1.1B in its Series C in March 2021. |
| How much funding has Rightway raised? | Rightway has raised $394M across 6 funding rounds. |
| What was Rightway's last funding round? | Rightway's last funding round was a $155M undisclosed-stage round in September 2026. |
| Who are Rightway's investors? | Rightway's investors include Tiger Global, Thrive Capital, Jaws Ventures, Vine Ventures and Khosla Ventures. |
| Which companies are comparable to Rightway? | Companies comparable to Rightway include MediTrust Health, Collective Health, Value HR, IntelyCare, PHC Holdings and Elemy. |
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