Mandolin Raises $40M to Improve Access to Life-Saving Therapies for Diseases like Cancer and Alzheimer's Using AI Agents
SAN FRANCISCO--(BUSINESS WIRE)-- Mandolin, the leading AI automation platform for specialty drug access, announced that it has raised $40 million in funding from Greylock Partners, SignalFire, Maverick, SV Angel, along with Jerry Yang (co-founder of Yahoo!) and Guillermo Rauch (CEO of Vercel). Founded by repeat entrepreneurs Will Yin (CEO) and Rohit Rustagi (COO), Mandolin is used by many of the nation's largest infusion providers, pharmacies, and health systems.
Recent advances in drug development have caused an explosion of specialty therapies addressing rare and chronic conditions like cancers, immune disorders, and Alzheimer's. Specialty therapies represented $250 billion in drug spend in 2024 and are expected to reach $1.5 trillion in drug spend in eight years. They are also 75% of the drugs in the FDA's approval pipeline.
Unlike traditional drugs bought at retail pharmacies, these drugs are often administered by healthcare professionals in a clinical setting. They are also processed through an arduous administrative process established by insurance companies, often delaying patients' access to life-changing treatments by weeks.
'Insurance companies make the approval process challenging for specialty medications. Infusion providers, pharmacies, and health systems spend an excessive amount of manpower on basic tasks like checking insurance coverage, submitting prior authorizations, or verifying reimbursement amounts, which take weeks of time per prescription and lead to millions in bad debt,' said Will Yin, CEO and co-founder of Mandolin. 'Leveraging the latest advancements in AI, we saw an opportunity to build autonomous agents that can tackle these workflows for providers in minutes and more reliably.'
Mandolin's founders, Will Yin and Rohit Rustagi, have a strong passion and vision for improving our healthcare system using AI. After initially pursuing academic research on conditions like Alzheimer's and cancer that have impacted their families, they saw first-hand the difficulty and delays associated with specialty drug approvals. Recognizing how broken the healthcare system was for accessing these treatments, combined with the insight that large language models could now reason like the best performing employees, they joined forces to start Mandolin in 2024.
Mandolin's AI platform automates the end-to-end administrative side of infused and injected drug delivery for providers. Mandolin's AI agents act just like your best employees, completing tasks like reasoning about clinical policies, calling payers, parsing faxes and handwritten notes, and making decisions across entire workflows. They integrate into existing electronic health records (EHRs), payer portals, and manufacturer hubs. By centralizing operational logic and real-time decision-making into a single platform, Mandolin dramatically reduces time-to-treatment from weeks to days, lowers back-office costs, improves billing accuracy, and unlocks visibility into drug usage and patient pathways.
Since launching its product in January, the industry has been quick to respond. Mandolin is already working with many of the largest US infusion providers, pharmacies, and health systems, including Vivo Infusion, FlexCare Infusion, OI Infusion, TwelveStone Health Partners, and Amber Specialty Pharmacy. Across customers, Mandolin is deployed in over 700 clinic locations and serves over 250,000 new patients a year.
"Mandolin has been nothing short of transformational for our business. Tasks that used to take days, now happen in under an hour,' said Cannon Loughry, COO of TwelveStone. 'We've automated key workflows across billing, patient communication, and insurance verification, driving real gains in terms of better cash flow and the reduction of headcount as we scale. Mandolin acts as an AI employee integrated directly into our core systems. We just tell it what needs to get done, and it does the work.'
'Will and Rohit saw the opportunity to bring agentic AI into a system drowning in paperwork, delays, and revenue leakage,' said Jerry Chen, partner at Greylock Partners. 'Despite being founded a year ago, Mandolin is already proving that AI agents can unlock faster treatment for patients and far better economics for providers. We at Greylock are thrilled to partner with them on their journey.'
About Mandolin
Mandolin is the leading AI automation platform for specialty drug access. The company's AI agents act just like a best employee, completing tasks like reasoning about clinical policies, calling payers, parsing faxes and handwritten notes, and making decisions across entire workflows. Backed by Greylock, SignalFire, Maverick, and SV Angel, Mandolin works with the largest consolidated infusion providers, specialty and home infusion pharmacies, and health systems in the country. For more information, visit: https://www.mandolin.com/
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