Latest news with #GreylockPartners
Yahoo
25-06-2025
- Business
- Yahoo
Mandolin Raises $40M to Improve Access to Life-Saving Therapies for Diseases like Cancer and Alzheimer's Using AI Agents
Mandolin brings AI teammates to healthcare, accelerating patient access and cutting operational cost SAN FRANCISCO, June 25, 2025--(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: View source version on Contacts Media Contact: Mandolin PR — press@
Business Wire
25-06-2025
- Business
- Business Wire
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:
Mint
18-06-2025
- Business
- Mint
LinkedIn co-founder Reid Hoffman's tip to Gen Z graduates: ‘AI makes you enormously attractive'
Reid Hoffman, co-founder of LinkedIn and a prominent Silicon Valley venture capitalist, has a clear message for the Class of 2025 and beyond: embrace artificial intelligence, not fear it. In a video shared on his YouTube channel this week, Hoffman urged recent graduates to leverage their intuitive understanding of AI tools as a core advantage in the evolving job market. 'You are Generation AI—you're AI-native,' Hoffman said. 'Highlighting your comfort with AI in your skillset makes you a compelling candidate in today's job landscape.' Hoffman, also a partner at Greylock Partners, was responding to student-submitted questions about how to navigate the job search in a tech-disrupted world. Many of the queries reflected anxieties around how AI could potentially displace entry-level roles. Acknowledging these concerns, Hoffman noted that while AI is indeed reshaping traditional workflows, particularly at the entry level, it is also creating new opportunities for digitally savvy young professionals to differentiate themselves. 'Yes, it's disrupting entry-level tasks and causing uncertainty among employers,' Hoffman said. 'But it's also a chance to stand out. You can use AI to showcase your creativity, efficiency, and problem-solving abilities—skills that more senior colleagues might still be developing.' Hoffman encouraged graduates to frame their AI fluency not just as technical knowledge, but as a collaborative strength—one that could help modernise teams and enhance productivity in legacy work environments. The comments come amid broader discussions on AI's impact on the global workforce, with many employers still figuring out how to integrate generative AI tools into business processes without diminishing human roles. For digitally fluent Gen Z professionals, this uncertainty may well be a strategic advantage. Earlier, Hoffman cautioned against the growing trend of portraying AI systems as emotional companions, arguing that such framing risks undermining human relationships and emotional well-being, reported Business Insider.
Mint
18-06-2025
- Business
- Mint
LinkedIn co-founder Reid Hoffman's advice to Gen Z graduates: 'AI is not a threat, embrace it'
Reid Hoffman, co-founder of LinkedIn and a prominent Silicon Valley venture capitalist, has a clear message for the Class of 2025 and beyond: embrace artificial intelligence, not fear it. In a video shared on his YouTube channel this week, Hoffman urged recent graduates to leverage their intuitive understanding of AI tools as a core advantage in the evolving job market. 'You are Generation AI—you're AI-native,' Hoffman said. 'Highlighting your comfort with AI in your skillset makes you a compelling candidate in today's job landscape.' Hoffman, also a partner at Greylock Partners, was responding to student-submitted questions about how to navigate the job search in a tech-disrupted world. Many of the queries reflected anxieties around how AI could potentially displace entry-level roles. Acknowledging these concerns, Hoffman noted that while AI is indeed reshaping traditional workflows, particularly at the entry level, it is also creating new opportunities for digitally savvy young professionals to differentiate themselves. 'Yes, it's disrupting entry-level tasks and causing uncertainty among employers,' Hoffman said. 'But it's also a chance to stand out. You can use AI to showcase your creativity, efficiency, and problem-solving abilities—skills that more senior colleagues might still be developing.' Hoffman encouraged graduates to frame their AI fluency not just as technical knowledge, but as a collaborative strength—one that could help modernise teams and enhance productivity in legacy work environments. The comments come amid broader discussions on AI's impact on the global workforce, with many employers still figuring out how to integrate generative AI tools into business processes without diminishing human roles. For digitally fluent Gen Z professionals, this uncertainty may well be a strategic advantage. Earlier, Hoffman cautioned against the growing trend of portraying AI systems as emotional companions, arguing that such framing risks undermining human relationships and emotional well-being, reported Business Insider. During the Possible podcast, Hoffman asserted that no current AI tool possesses the emotional depth required to qualify as a friend, and that suggesting otherwise could be psychologically harmful, added the publication. 'I don't think any AI tool today is capable of being a friend,' he said. 'And I think if it's pretending to be a friend, you're actually harming the person in so doing.'
Yahoo
17-06-2025
- Business
- Yahoo
Remittance firm Aspora garners $93m in funding
Cross border payments startup Aspora has raised $93m across three funding rounds, aimed at expanding its cross-border financial services. The company, founded in 2022, is focused on building financial infrastructure tailored to the needs of global Indian communities. Aspora is backed by venture firms including Sequoia Capital, Greylock Partners, Hummingbird Ventures, Soma Capital, Global Founders Capital, and Y Combinator. The company also has the support of angel investors such as Quantum Light, Balaji Srinivasan (former CTO of Coinbase), Sundeep Jain (former CPO of Uber), Prasanna Sankar (Co-founder of Rippling), and Chad West (former CMO at Revolut). Headquartered in London, with offices in Dubai and India, Aspora currently serves users across the UK, UAE, and the EU. The company has reported processing over $2bn in remittance volume, a fivefold increase from $400m six months ago, the company said in a statement. More than 250,000 non-resident Indians (NRIs) now use the platform, and Aspora estimates users have saved over $15m in fees compared to traditional remittance providers. The company is set to launch its services in the US in July, with Canada, Australia, and Singapore expected to follow before the end of the year. In addition to remittances, Aspora plans to develop a broader financial ecosystem that includes banking, investments, credit, and insurance products tailored to the needs of individuals with cross-border lives. "Remittance firm Aspora garners $93m in funding " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
