Forus, the AI-powered medication access company formerly known as Tandem, has raised $150 million in Series C funding, bringing its total capital raised to $300 million and its valuation to $3 billion. The new valuation represents a threefold increase in roughly four months.
Founded in 2023 and based in New York, Forus operates a platform embedded within healthcare provider workflows to address administrative and logistical barriers between prescribing and patients receiving medication. Its AI agents manage processes including prior authorizations, benefits verification, insurance-denial appeals, financial-assistance enrollment, specialty-pharmacy coordination, pharmacy routing and patient communications.
Forus says it assigns each prescription its own AI agent. The platform operates across pharmacy and medical benefits and is available to providers and patients without charge.
The company positions its infrastructure as a network connecting healthcare providers, pharmacies, payers and biopharma companies. Prescription-access data generated through the network can also provide life sciences companies with information about access barriers, patient drop-off points and medicine performance, potentially supporting drug development and launch strategies.
The latest capital will be used to expand Forus into additional medical specialties and care settings, extend the capabilities of its AI agents and increase its workforce.
"Forus is becoming how new medicine reaches people in America," said Kevin Zhang, general partner at Bain Capital Ventures. "We have backed the company since its seed, and in that time the largest companies in medicine have turned to it to bring their newest medicines to patients. The next era of medicine will run on the AI-powered network Forus is building."
The financing follows several recent developments. In July, Forus partnered with the American Gastroenterological Association to examine medication-access barriers affecting patients with digestive diseases. The collaboration combines clinical expertise with Forus' access data to inform clinical guidance, advocacy and resources for gastroenterologists.
In May, Tandem rebranded as Forus and announced a $160 million financing. A month earlier, it partnered with OpenEvidence to connect clinical decision-making with medication access, enabling clinicians to review medical evidence before initiating prescriptions and prior authorization submissions within the same workflow. The company previously raised a $30 million Series A in 2024.
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