RxLightning, an award-winning technology company, which expanded its headquarters in downtown New Albany, Indiana in 2022 recently announced that it closed a $17.5 million Series A investment to support the company’s growth and further remove barriers to life-saving therapies. The round was led by LRVHealth, with participation from McKesson Ventures and existing investors Novartis (dRx Capital), Onco360 (BrightSpring Health Services), Hearst Ventures, and HealthX Ventures. This investment brings RxLightning’s total capital raised since inception to $20.5 million.
RxLightning’s platform streamlines the specialty drug enrollment process for both doctors and patients, reducing paperwork and cutting the enrollment time from weeks to hours. The digitized, single solution, which is free for providers and patients, supports more than 1,200 specialty medications, helping patients get access to the treatments they need even faster. RxLightning has been named one of the fastest growing companies in Louisville by Louisville Business First, and the company received the tech product of the year and startup of the year awards at the 2022 TechPoint Mira Awards.
With RxLightning, healthcare providers – from those practicing at independent clinics to large health systems – leverage a streamlined workflow to complete the multi-step specialty medication onboarding process in a matter of minutes. The company’s MedAccess Ecosystem is an integrated platform that provides transparency into the patient access and affordability journey for doctors, patients, specialty pharmacies, and drug manufacturers, reducing administrative burden and enabling onboarding support in real time.
“Many people have tried to fix the slow, manual specialty medication onboarding process, but they’ve approached it with a single drug, pharmacy, or isolated part of the process in mind. RxLightning is the first to provide an end-to-end solution that covers the entire market – from every medication and destination to every stakeholder in the process,” said Julia Regan, CEO and founder at RxLightning. “This new investment will help us further scale our medication access capabilities, support infrastructure and personnel growth, and maintain the unprecedented rate at which we’ve grown our partner base – all while receiving strategic guidance from leading industry experts.”
With this funding round, LRVHealth’s Josh Flum and McKesson Ventures’ Carrie Williams will join RxLightning’s board of directors alongside HealthX Ventures’ Mark Bakken, former Walgreens executive Brad Fluegel, and Julia Regan.