Health startup Forus raises $150 million in funding
Securing financing in a Series C round led by Bain Capital Ventures, Forus has brought its total funding to over $300 million.
US-based Forus, operating in the field of drug access and prescription management, has raised $150 million in a Series C round led by Bain Capital Ventures, bringing its total financing to over $300 million. Founded by Sahir Jaggi, the company plans to use the newly acquired capital to expand its artificial intelligence-powered infrastructure.
Details of the investment round
Bain Capital Ventures led the company's $150 million Series C funding round. The round for the US-based Forus also saw participation from prominent funds such as Thrive Capital, General Catalyst, Accel, Redpoint, BoxGroup, Pear VC, Vast Ventures, SV Angel, Avra, Human Capital, and Neo.
Artificial intelligence-focused growth plan
Forus announced that it will use the new investment to expand its AI-powered network across all medical specialties and healthcare settings. The company also aims to automate more stages of the treatment process with AI agents.
How the platform works
Operating previously under the name Tandem, the startup connects communication between doctors, pharmacies, insurance companies, and biopharma companies. The primary goal is to accelerate the process from prescription writing to drug utilization.
Automation of administrative processes
The platform automates time-consuming administrative processes related to prescriptions using artificial intelligence. Within this scope, operations such as securing insurance prior authorizations, preparing appeals, directing patients to financial support programs, and pharmacy selection are carried out.
Expansion and data usage
Forus' platform is currently utilized by thousands of healthcare organizations across all 50 US states. Additionally, the company evaluates the data gathered from these processes to help biopharmaceutical companies develop new treatments.