AI SCIENCE
The bar was low, and Tandem stepped over it
Healthcare startup Tandem Technology Inc. has reached a $1 billion valuation, according to people familiar with the matter.
The New York-based company is raising $100 million in a funding round led by Accel.
The deal has not been publicly announced.
Tandem builds AI tools that help speed up how prescriptions are approved and sent to pharmacies.
Its technology automates tasks like prior authorisations and follow-up calls, which often slow down patient access to medication.
The service is free for both healthcare providers and patients.
Here’s what you should know:
The platform focuses on reducing paperwork rather than changing medical decisions.
Tandem’s business model is expected to rely on partnerships, not user fees.
The funding highlights continued investor interest in AI tools that tackle healthcare administration.
Paperwork is the enemy
The company is backed by Thrive Capital and General Catalyst and has raised $137 million to date, including this latest Series B round.
General Catalyst previously led Tandem’s $30 million Series A in 2024. Tandem did not respond to requests for comment.
Tandem plans to partner with biopharma companies to support the rollout of new drugs and expects millions of patients to use its platform by 2026.
As somebody who has never experienced the American prescription system, I can only assume this is much-needed? - MV