Mandolin Secures $40 Million in Funding to Enhance Access to Specialty Drugs
Mandolin, a platform that uses AI automation to enhance access to specialty drugs, has announced it secured $40 million in funding.
The funding round was led by Maverick, SignalFire, SV Angel, Greylock Partners, Jerry Yang (cofounder of Yahoo), and Guillermo Rauch (CEO of Vercel).
What Mandolin Does
Mandolin offers an AI-enabled workflow automation platform for the administrative side of specialty drugs. Its AI agents assist with intake, prior authorizations, benefits, and revenue cycle management.
The San Francisco-based company’s platform integrates into EHRs, manufacturer hubs, and payer portals. Mandolin launched its product in January and is currently deployed in more than 700 clinical locations.
Will Yin, cofounder and CEO of Mandolin, stated, “We’ll use this capital to grow the team, primarily focusing on world-class engineering and customer implementation talent to more deeply serve the needs of our sophisticated customers.”
Market Snapshot
According to a study published in the Journal of Managed Care and Specialty Pharmacy, total spending on specialty drugs increased from 21.7% in 2012 to 71.1% in 2021. Specialty drugs accounted for 6.2% of prescriptions but 71.1% of total spending in 2021.
Other digital health companies in the specialty drug space include Serve You Rx, which collaborated with Amazon Pharmacy to offer home delivery services for maintenance medication to its members. Serve You Rx members can access common medications, while specialty patients can use Waltz Health’s AI-powered platform to access their specialty drugs.
Mark Cuban Cost Plus Drugs announced a collaboration with specialty pharmaceutical distributor Morris & Dickson to provide access to injectable medications via the Cost Plus Marketplace. California-based SamaCare offers a workflow platform for providers offering specialty medication and secured $17 million in a Series B investment round last year.
