Company leader
Derek Lo
Founder and Chief Executive Officer
Medallion
Derek Lo is founder and chief executive of Medallion. Medallion's software handles licensing, credentialing, payer enrollment, and monitoring, so a clinic can get its clinicians credentialed and able to bill.
Coding at Yale
At Yale, in New Haven, Connecticut, he grew frustrated with computer science courses he felt were of little use for real business work. In May 2016 he started building Py, a mobile app that teaches coding in short lessons, from his dorm room, and he finished his degree before taking it through Y Combinator's summer 2017 batch. "We've been very focused on programming for a while but programming applied to, say, iOS development or making a website or data science," he said.
Selling Py to Hired
After a chance meeting with Hired co-founder Allan Grant at a Y Combinator event, he sold Py to Hired in February 2019, when the app counted 500,000 users. He joined Hired as director of product.
Founding Medallion
In 2020 he founded Medallion to automate the credentialing, licensing, and compliance work that slows provider networks. "The multi-payor system in the US creates immense complexity," he said in 2023, when Medallion served more than 300 customers and had raised $85 million.