Clarium, a healthcare technology company transforming hospital supply chain operations, announced a $10.5 million strategic funding round. This investment was led by General Catalyst, with backing from Kaiser Permanente Ventures, Texas Medical Center Venture Fund, Yale New Haven Health, and existing investors AlleyCorp, 1984 Ventures, Alumni Ventures, and others. The funding brings Clarium’s total capital raised to date to $16 million.
Along with the strategic financing, Clarium introduced Astra OS, its proprietary AI-powered workflow platform and data ecosystem. And Astra OS – which was created and built in collaboration with several leading health systems – enables providers to optimize and automate their supply chain operations with insights to achieve millions of dollars in cost savings and productivity improvements annually.
With this funding, Clarium plans to continue recruiting exceptional talent across data science, engineering, sales, product, and customer success to meet the needs of its growing customer base. The Company will 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. And the company will also build on and refine its platform’s product offerings and continue to invest in generative AI and large language model technologies to augment Clarium’s software platform and applications.
Healthcare data has always been fragmented across multiple systems for hospitals and suppliers. And this has led to significant challenges in inventory management, demand planning, data accuracy, and workforce efficiency, which has contributed to the industry overspending on supply chain products and related operations by over $25 billion each year. Clarium was created in early 2020 with the fundamental mission of helping hospitals improve their supply chain operations and be fully prepared to combat the next major pandemic or shortage with game-changing technology.
Astra OS is Clarium’s AI-powered workflow platform that combines real-time data to improve visibility, collaboration, and resiliency across all departments and teams. And on top of Astra OS is Clarium’s suite of workflow applications that deploy intelligent automation to hospitals, enhancing their productivity by proactively managing inventory and resolving supply disruptions (Disruption Monitor), automating substitute approvals (Substitute Manager), streamlining procedure card management (Card Optimizer), and more, with other applications in development.
Since integrating Astra OS, Clarium’s health system partners identified an average of over $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
KEY QUOTES:
“Health systems have a transformational opportunity to reimagine their supply chains by partnering with Clarium. 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.”
- Steve Liou, Founder and CEO of Clarium
“We’ve seen firsthand the need for tools to help healthcare executives create resilient supply chains. Clarium’s Astra OS is aiming to fill a market gap with its end-to-end enterprise platform for supply chain operations. Through deep integrations and the application of generative AI, we believe Clarium will drive a paradigm shift in supply chain efficiency. We’re excited to partner with Steve and the rest of the Clarium team on this next phase of growth as they scale across the country.”
- Reva Nohria, partner at General Catalyst
“Clarium’s ability to leverage artificial intelligence for data unification and predictive insights has proven to be invaluable to our organization. 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.”
• ⁃ Jacqueline Epright, Vice President of Supply Chain at Yale New Haven Health
