Manifold the Applied AI Company Announces Financing To Support 100% Growth, with Technology, Healthtech, and Biotech Veterans Joining
SAN FRANCISCO & BOSTON–(BUSINESS WIRE)–Manifold, the applied AI company, announced a seed financing to support rapid growth, led by Jon Karlen, chairman of Acadian Software and former board member of PillPack. He was joined by Waterline Ventures where Robbie Greenglass led the investment and by former executives, investors, and board members of Amazon, Auris Health, Brightree, and Elevation Pharmaceuticals.
Manifold partners with visionary leaders to make progress rapidly on AI mandates from C-suites and Boards through joint discovery and development programs. Manifold’s AI foundry brings together the infrastructure, algorithms, data, and multidisciplinary R&D team needed to rapidly forge market ready products. In contrast to other tools companies, Manifold’s AI scientists and software engineers work closely with biomedical scientists and engineers to invent novel solutions. Past collaborations have resulted in patents and publications in addition to products, for areas ranging from PK/PD modeling to HEOR and adherence.
“Manifold is continuing to experience rapid growth, with revenues and team growing 100% this year and projected to double again next year. It’s a clear signal that our team and tools are uniquely suited to realizing the vast potential of data and AI to improve health outcomes,” said Vinay Seth Mohta, CEO and Co-Founder of Manifold. “At Manifold, we are on a mission to apply AI to the problems that matter.”
“Several billion-dollar companies will be built in this space,” said investor Jon Karlen, chairman of Acadian Software and former board member of PillPack. “Manifold stands out among AI companies in achieving its current revenues and team size in such a capital efficient way. The company’s vision recognizes the distinct economic structure of an applied AI company relative to a traditional SaaS company.”
“Machine learning is a valuable enabling technology in drug discovery and development and in clinical trial operations,” said Pravin Soni PhD, former CTO and Co-Founder of Elevation Pharmaceuticals and Patara Pharma. “Manifold’s growing partnerships in life sciences are a sign of the consensus that’s emerged on the potential over the last few years.”
In the two years since the company began scaling its AI foundry, several global life sciences and healthcare companies have partnered with Manifold to discover and develop data and AI products. Manifold has also attracted technology, healthtech, and biotech veterans to its leadership and R&D teams from companies like Apple, AllScripts, Kyruus, Apixio, PatientPing, and TetraScience and from leading research universities.
Manifold is the applied AI company. Manifold’s AI foundry brings together the infrastructure, algorithms, data, and multidisciplinary R&D team needed to rapidly forge market ready products. Global companies partner with Manifold through joint discovery and development programs. For more information, visit www.manifold.ai.
Meg Blanchette, 415-439-0618