Mandolin, an AI automation platform focused on streamlining access to specialty drugs, raised $40 million in a funding round led by Greylock Partners, with participation from SignalFire, Maverick, SV Angel, Jerry Yang (Yahoo! co-founder), and Guillermo Rauch (CEO of Vercel).
Founded in 2024, Mandolin uses AI agents to automate complex administrative tasks associated with specialty drug delivery, including insurance verification, benefits checks, prior authorization, and revenue cycle management. The platform integrates directly into electronic health records (EHRs) and payer systems, significantly reducing processing times and administrative overhead.
Specialty medications, projected to grow from a $250 billion market in 2024 to $1.5 trillion by 2032, are often hampered by administrative delays, impacting patient access and provider efficiency. Mandolin’s AI-driven workflows address these issues, enabling healthcare providers to expedite patient treatments and reduce operational costs.
Cannon Loughry, COO of TwelveStone, highlighted Mandolin's impact: "Tasks that used to take days now happen in under an hour."
Mandolin currently serves over 250,000 patients annually across 700 clinic locations in the U.S., working with major infusion providers, pharmacies, and health systems. Its automation solutions have notably improved operational efficiency for clients such as Vivo Infusion, Amber Specialty Pharmacy, and OI Infusion, achieving up to 24x faster document processing, eliminating prescription backlogs, and reducing reliance on outsourced staff.
While Mandolin isn't unique in applying AI to healthcare administration, its platform uniquely covers the entire lifecycle of specialty drug back-office operations without the need for APIs or integrations.
