Rightway Healthcare Secures $20 Million Series B Funding to Expand Its Healthcare Navigation Platform

VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that on November 21, 2019, Rightway Healthcare, a U.S. corporate healthcare platform, announced the completion of a $20 million Series B financing round, led by the investment firm Thrive Capital.

Kareem Zaki, a partner at Thrive Capital, will join the board of directors of Rightway Healthcare.

Previously, in February 2019, Rightway Healthcare completed an $8 million Series A financing round to develop its patient healthcare navigation platform. This round of funding will be used to continue expanding this world-class navigation platform and to explore new opportunities for delivering its products in the healthcare sector.

Rightway Healthcare’s client base ranges from small businesses to large enterprises, including global law firms and public investment banks. Since March, Rightway’s team has added 50 members and plans to double its roster of top-tier business and technical talent. Over the past nine months, Rightway’s client base has grown by 3,100%, from 25 companies to more than 800, serving 500,000 members.

Rightway Healthcare, an innovative healthcare platform, was co-founded by Jordan Feldman and Dr. Ted Feldman in 2017. The platform serves as a single point of contact for employees of every enterprise throughout their entire healthcare journey. By partnering directly with enterprises, Rightway Healthcare provides comprehensive healthcare navigation solutions to employees through its high-tech, high-touch platform, helping them navigate the healthcare process and alleviating the burden on corporate human resources departments.

Kareem Zaki, a partner at Thrive Capital, stated, “Rightway delivers a high-quality, cost-effective navigation platform for employers and their employees by modernizing the fragmented healthcare ecosystem through the integration of its innovative technology with specialized healthcare professionals. We are thrilled to help Rightway secure pharmacy benefits that align with their model. We look forward to working closely with Jordan Feldman and his team as they continue to improve patient outcomes and reduce healthcare costs for employers.”

Jordan Feldman, CEO of Rightway Healthcare, stated, “We are thrilled to announce the success of our Series B financing and the recognition of our business by Thrive. Renowned for building industry-recognized healthcare companies, Thrive is the perfect partner as we continue to grow into a leading healthcare navigation company. Their expertise and experience in the industry will help us refine our product offerings, production capabilities, and coverage.”

Jordan Feldman continued, “As we focus on the next phase of growth, we plan to leverage our unique position within the healthcare ecosystem to broaden the scope of our product offerings. With the additional capital raised, we will be able to continue expanding our core platform and begin entering new markets, such as prescription drugs and pharmacy benefits. Our mission is to help our members save time and money while achieving the best possible outcomes in their healthcare experiences. We look forward to extending our services to more customers across China.”

Thrive Capital is a venture capital firm focused on transformative internet and software investments. Thrive has worked closely with numerous healthcare companies, helping its partners create Oscar Health, Capsule, and Cedar, and has invested in companies such as Cityblock, Flatiron Health, Hims, Honor, Trialspark, and Welkin.

(Compiled by Wang Fang)