Forus Raises $160M to Automate Prescription Paperwork, Reaches $1B Valuation

Forus reached a $1 billion valuation after raising $160 million in total funding. Its investors include Thrive Capital, General Catalyst and Accel, each of which led a previously unannounced round of funding. The company, which develops AI software to handle prescriptions’ administrative backend, said its annualized revenue surpassed $10 million by the end of 2025.

That figure has roughly quintupled so far in 2026, with revenue now tracking above $50 million. Sahir Jaggi started Forus in 2023, then named Tandem. The 31-year-old founder, who was named to the Forbes 30 Under 30 Healthcare list in 2025, created the company to develop AI that processes the paperwork and insurance steps that often prevent patients from receiving prescribed drugs.

Forus’s system picks up a prescription the moment a physician writes a script and processes it. It figures out nitty-gritty details like what medications a patient has tried previously and whether there are restrictions on which pharmacy can fill it. Both the doctor and the patient can see what’s going on in real time.

“We reduce a huge amount of headache, paperwork and phone calls,” says Jaggi, 31. Thousands of medical practices and health systems across the country currently rely on Forus’s tech. The company experienced a 10-fold annual increase in usage for the past two years, driven almost entirely by word of mouth.

Medical practices that use Forus software have seen an increase in prescription fill rates over time. Nearly one third of Americans never fill the prescriptions that their doctors order. Sahir Jaggi spent five years at Oscar, where he gained direct experience with the complexities of prescription drug coverage.

He has an undergraduate degree in biomedical engineering from Columbia University and was born to Indian immigrants, growing up in upstate New York. Half of the top 10 global pharmaceutical companies are now partners with Forus. The company is working on several large drug launches this year.

Forus’s main users are doctors and patients, but it doesn’t charge them. Instead, Forus has deals with pharmaceutical giants. Prescription drug spending is expected to surpass $1 trillion this year according to a new report from the American Society of Health-System Pharmacists.

While he was CEO at Merck, patients didn’t adhere to almost 50% of prescriptions and didn’t fill some 35% of new scripts, Ken Frazier said. U.S. adults have not taken their medication as prescribed over the past year due to costs according to a recent KFF poll.

Ken Frazier, a special advisor at VC firm General Catalyst and chairman of its Health Assurance Initiatives, added that “it is totally crazy because these drugs are really beneficial to patients.