Clarium Inc., a startup 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 brings the total capital raised to date by New York-based Clarium to $16 million.
The company said it would use the investment to further integrate with existing partners (CommonSpirit, Yale New Haven Health, Geisinger, Ochsner Health, Boston Children’s Hospital) and develop programs with additional health systems.
The company says it has developed a proprietary AI-powered workflow platform and data ecosystem, Astra OS, that was designed and built in collaboration with several healthcare 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 across their supply chain operations, including:
• 50% reduction in average outage resolution time
• 63% reduction in average approval time for substitutes
• 3.7x growth in approved clinically validated substitutes
“Clarium’s ability to leverage AI for data unification and predictive insights has proven invaluable to our organization,” Jacqueline Epright, vice president of supply chain at Yale New Haven Health, said in a statement. “We now have more than 300 users across seven departments actively engaged on the Clarium platform and we are excited to continue to expand our partnership.”
“Health systems have a transformative 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 dramatically optimize spending, improve workforce productivity, and ultimately improve patient outcomes.”
