Clarium Inc., a startup company focused on hospital supply chain operations, has received $10.5 million in venture capital funding led by General Catalyst, with backing from Kaiser Permanente Ventures, Texas Medical Center Venture Fund, Yale New Haven Health, as well as existing investors AlleyCorp, 1984 Ventures, Alumni Ventures, and others.
The funding takes New York-based Clarium’s total capital raised to date to $16 million.
The company said it would use the investment to integrate further with existing partners (CommonSpirit, Yale New Haven Health, Geisinger, Ochsner Health, Boston Children’s Hospital) and build programs with additional health systems.
The company says it has developed a proprietary AI-powered workflow platform and data ecosystem, Astra OS, which was designed and built in collaboration with several health systems.
Clarium says that since integrating Astra OS, its health system partners have identified an average of more than $10 million in cost savings and productivity gains in their supply chain operations, including the following:
• 50% decrease in average disruption resolution time
• 63% decrease in average substitute approval time
• 3.7x growth in clinically validated substitutes approved
“Clarium's ability to leverage artificial intelligence for data unification and predictive insights has proven to be invaluable to our organization," said Jacqueline Epright, vice president of supply chain at Yale New Haven Health, in a statement. "We now have over 300 users across seven departments actively engaged in Clarium's platform, and we're excited to continue expanding our partnership further."
“Health systems have a transformational opportunity to reimagine their supply chains by partnering with Clarium,” said Steve Liou, founder and CEO of Clarium, in a statement. “Our AI-powered platform and data ecosystem, Astra OS, brings hospitals and providers to the cutting edge of technology and helps to dramatically optimize spend, enhance workforce productivity, and ultimately improve patient outcomes.”
