Forus Reaches $1 Billion Valuation With AI Prescription Processing Software

Forus has reached a $1 billion valuation after raising a total of $160 million from investors. The company, founded in 2023, uses artificial intelligence to automate the administrative tasks involved in filling prescriptions. The software activates the moment a physician writes a prescription.

It determines details such as medications a patient has tried previously and any restrictions on which pharmacy can dispense the drug. Both the physician and the patient can track the process in real time. "We reduce a huge amount of headache, paperwork and phone calls," the company's founder said.

Thousands of medical practices and health systems now use the technology, with adoption increasing tenfold annually for the past two years through word of mouth. Medical practices using the software have reported higher prescription fill rates over time.

The company also announced that its annualized revenue exceeded $10 million by the end of last year and has roughly quintupled so far this year, putting current annualized revenue above $50 million.

Nearly one third of Americans never fill the prescriptions ordered by their doctors. About four in 10 U.S. adults reported not taking medication as prescribed in the past year due to costs, according to a recent KFF poll. Larger shares of lower-income, uninsured, female, Black and Hispanic adults said they took measures such as switching to over-the-counter drugs or splitting pills.

Specialty drugs for conditions such as cancer and autoimmune diseases can cost thousands or hundreds of thousands of dollars. These medications often require processing through specialty pharmacies and additional approval steps. The company said it handles these administrative layers for both standard and specialty prescriptions.