Andel announced a $4.5 million capital raise at the HLTH conference to support the launch of its cooperative platform that enables employers to provide affordable access to GLP-1 weight-loss medications. The funding round includes participation from Lightbank, Seedcamp, Bertelsmann Healthcare Investments, Houghton Street Ventures, and Springboard.
The company addresses a critical challenge in employer-sponsored healthcare: 64% of employers currently do not offer GLP-1 coverage for weight loss, despite the growing demand for these medications. With healthcare costs expected to rise more than 10% in 2026, many organizations find these treatments financially out of reach for employee coverage.
Andel introduces a cooperative model that leverages collective purchasing power to buy medications directly from manufacturers at reduced prices. Employers can then add subsidies to further offset costs for employees. The process — from prescription verification to next-day delivery — is managed entirely through Andel’s digital platform, providing a seamless experience for users.
Co-founder and CEO Jay Bregman, who previously built and exited multiple successful ventures including Hailo (now Lyft Europe) and Thimble, leads Andel alongside co-founder and pharmacist Ritu Malhotra, PharmD, who brings over two decades of experience in pharmacy benefit management and leadership at firms such as CVS Health. Together, they aim to close the affordability gap for modern prescription therapies.
The company’s model also offers employers a scalable, plug-and-play benefit that strengthens recruitment and retention while improving access to vital medications. By eliminating the complexities of traditional insurance approvals, Andel’s approach aligns employer and employee interests within a transparent and equitable benefit system.
With direct manufacturer contracts and a cooperative infrastructure, Andel is positioned to address inefficiencies across the pharmacy benefits landscape while enabling affordable access to critical medications.
KEY QUOTES:
“Expanding access to healthcare is the cornerstone of our mission. Andel gives employers an innovative new pharmacy-benefit solution that fills the coverage gap.”
Ritu Malhotra, co-founder, PharmD
“We’re living in an era of life-changing medical breakthroughs, yet they remain out of reach for millions of Americans. By building Andel as a cooperative platform, we align incentives with our members — not insurers.”
Jay Bregman, co-founder and CEO
“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.”
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.”
Eric Ong, Partner at Lightbank
“We are always delighted when LSE alumni launch successful ventures, particularly those addressing important social problems. 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.”
Larry Kramer, President and Vice Chancellor of the London School of Economics
“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.”
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.”
Eli Goldberg, PhD, MSc, Core Angel at Springboard Health Angels
