Press Release

Andel Raises $4.5M for Its Employer-Supported Medication Marketplace

Issued by Andel

Oct. 21, 2025

Andel enables employers to offer GLP-1 weight-loss medications as a benefit — at a fraction of the cost of insurance.

LAS VEGAS,  -- At HLTH, Andel announced a $4.5 million capital raise to launch a revolutionary new platform that strengthens pharmacy benefits by giving employers an affordable way to include GLP-1s. Investors include Lightbank, Seedcamp, Bertelsmann Healthcare Investments, Houghton Street Ventures, and Springboard.

Two out of three employers (64%) do not offer GLP-1 coverage for weight loss. Employees need these medications, but with their healthcare costs projected more than 10% in 2026, employers can't afford to cover them.

Andel solves this problem with a unique cooperative model that leverages members' combined buying power to purchase medications directly from manufacturers at below-market prices. Then, employers add a subsidy of their choosing to further reduce costs to members. From prescription verification to next‑day delivery, the entire experience is seamlessly coordinated through Andel's native apps.

"Expanding access to healthcare is the cornerstone of our mission," said Ritu Malhotra, co-founder, PharmD. "Andel gives employers an innovative new pharmacy-benefit solution that fills the coverage gap."

The result? Employees get the brand-name medicine they need at a price they can afford — no waiting for approvals or prerequisites. And employers get a compelling plug-and-play benefit that fits their budget.

"We're living in an era of life-changing medical breakthroughs, yet they remain out of reach for millions of Americans," said Jay Bregman, co-founder and CEO. "By building Andel as a cooperative platform, we align incentives with our members — not insurers."

Andel's founding team:

Jay Bregman has raised more than $250 million and successfully exited three companies, including the ridesharing network Hailo (now Lyft Europe) and Thimble, which was acquired by S&P 500 insurer Arch.

Ritu Malhotra, PharmD, is a licensed pharmacist with more than 20 years of leadership experience across major benefit-consulting firms, She also served as a top executive at CVS Health.

Andel's Investors In Their Own Words:

"Connecting businesses and their employees directly to a new pharmacy benefit is a powerful way to expand access to vital drugs. As the first mover, Andel's experienced founding team is uniquely positioned to navigate the complexities of healthcare and deliver exceptional value," said Thorsten Wirkes, Managing Director at Bertelsmann Healthcare Investments.

"Andel brings a fresh, cooperative approach to drug access that will open doors for both employers and patients. Their focus on GLP-1s meets urgent market demand for these drugs, while offering measurable ROI for companies seeking affordable, effective employee benefits." Said Eric Ong, partner at Lightbank.

"We are always delighted when LSE alumni launch successful ventures, particularly those addressing important social problems," said Larry Kramer, president and vice chancellor of the London School of Economics."We congratulate Andel as it makes major progress toward addressing a vast global market with an innovative, transformative solution. As we continue to attract exceptional international talent, particularly from the United States, investments like this highlight the ambition, creativity, and global impact of the LSE community."

"From Day One, we are incredibly excited to support Andel's mission of rebuilding the U.S. pharmacy benefits model starting from first principles. Jay and Ritu combine entrepreneurship with in-depth knowledge of the healthcare and pharmacy benefits sector, uniquely positioning them to tackle one of the US healthcare system's most challenging issues," said Reshma Sohoni, founder and managing partner of Seedcamp.

"Andel is redefining access to high-cost drugs by securing direct manufacturer contracts, leveraging employer subsidies, and cutting through PBM bottlenecks. At a time when payers face severe headwinds and patient access is at risk, Andel offers a better path forward for patients, payers, and providers. Jay and Ritu bring a rare mix of entrepreneurial execution and deep industry expertise, and Springboard Health Angels sees extraordinary promise in what they are building." Said Eli Goldberg, PhD, MSc, core angel at Springboard Health Angels.

Other investors in the round include Semper Virens and Citylight.

About Andel

Andel is a revolution in drug affordability — a cooperative employee platform that unlocks access to GLP-1s and other brand name medications. Andel is launching nationwide in early 2026.

To learn more, please visit andel.org.

Andel Pharmacy, LLC is a licensed pharmacy and a wholly owned subsidiary of Andel Co-op, Inc.

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