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.

Prescription drug spending is projected to surpass $1 trillion this year. That figure implies more than $300 billion in therapies may go unfilled, according to a report from the American Society of Health-System Pharmacists.

The company does not charge doctors or patients for its service. Instead it has commercial agreements with pharmaceutical manufacturers to help ensure patients receive prescribed medications. Half of the top 10 global pharmaceutical companies are now partners, along with several smaller drug developers.

The company is assisting with several large drug launches this year. It works to resolve insurance processing issues for new therapies and confirm that pharmacies have adequate stock before the first prescriptions are written. A partner at one of the venture firms investing in the company described the approach as solving "the last-mile problem" in getting medications to patients.

The founder, who previously worked in health insurance product development, said the administrative complexities became clear during five years spent observing the system from inside an insurer.

The company was originally named Tandem when founded in 2023. It changed its name to Forus. The founder was recognized on the Forbes 30 Under 30 Healthcare list in 2025. Investors that led previous funding rounds include Thrive Capital, General Catalyst and Accel.

One investor noted that despite the commonality of receiving a prescription, barriers often prevent patients from obtaining the medications.