Mandolin, an AI-driven automation platform focused on specialty drug access, has announced a $40 million funding round. The investment includes backing from Greylock Partners, SignalFire, Maverick, SV Angel, as well as notable individuals such as Jerry Yang, co-founder of Yahoo!, and Guillermo Rauch, CEO of Vercel.
Founded by Will Yin (CEO) and Rohit Rustagi (COO), Mandolin is designed to streamline the complex administrative processes associated with specialty drugs—therapies often used to treat serious conditions like cancer, autoimmune disorders, and Alzheimer’s disease. The platform is already being used by major U.S. infusion providers, pharmacies, and health systems.
Specialty drug use has seen rapid growth, with $250 billion spent in 2024 alone. That figure is projected to rise to $1.5 trillion within the next eight years. These drugs currently make up 75% of the pipeline awaiting FDA approval. However, access to them is often delayed due to complicated insurance protocols and manual administrative requirements.
“Insurance companies make the approval process for specialty medications extremely difficult,” said CEO Will Yin. “Providers spend an enormous amount of time checking coverage, submitting authorizations, and verifying reimbursements. These tasks can take weeks and lead to significant revenue loss. With advancements in AI, we saw an opportunity to automate these workflows in a matter of minutes.”
Mandolin’s AI agents mimic experienced administrative staff, performing tasks such as interpreting clinical policies, calling insurers, reading faxes and handwritten notes, and making informed decisions throughout the workflow. The system integrates with existing electronic health records, insurance portals, and manufacturer hubs to create a seamless administrative process for infused and injected medications.
The company’s mission is personal for its founders. Both Yin and Rustagi have family connections to illnesses like Alzheimer’s and cancer, which inspired their early academic research. Their firsthand experience with the healthcare system’s inefficiencies, combined with the potential of large language models, led to the founding of Mandolin in 2024.
Since launching its product in January, Mandolin has seen significant traction. Its platform is now active in over 700 clinical locations and supports more than 250,000 new patients each year. Its customer base includes leading names like Vivo Infusion, FlexCare Infusion, OI Infusion, TwelveStone Health Partners, and Amber Specialty Pharmacy.
Mandolin aims to reduce time-to-treatment from weeks to days, lower administrative costs, improve billing accuracy, and provide better insights into patient care and drug utilization. With this latest funding, the company is well-positioned to accelerate its growth and further transform the way specialty medications are accessed and delivered.
