Clarium, a healthcare technology company transforming hospital supply chain operations, announced a $10.5 million strategic funding round. The investment was led by General Catalyst with support from Kaiser Permanente Ventures, Texas Medical Center Venture Fund, Yale New Haven Health, and existing investors AlleyCorp, 1984 Ventures, Alumni Ventures, and others. This financing brings Clarium's total capital raised to date to $16 million.
In tandem with the strategic funding, Clarium also announced Astra OS, a proprietary AI-powered workflow platform and data ecosystem. Developed and built in collaboration with several leading health systems, Astra OS enables providers to leverage insights to optimize and automate supply chain operations, resulting in millions of dollars in annual cost savings and productivity gains.
With this funding, Clarium plans to continue hiring top talent in data science, engineering, sales, product and customer success to meet the needs of its growing customer base. The company will use the investment to further integrate with existing partners (CommonSpirit, Yale New Haven Health, Geisinger, Ochsner Health and Boston Children's Hospital) and build programs with additional health systems. It will also strengthen and refine its platform's product offerings and continue to invest in generative AI and large-scale language model technologies to enhance Clarium's software platform and applications.
Healthcare data continues to reside in multiple hospital and supplier systems. This creates significant challenges in inventory management, demand planning, data accuracy, and workforce efficiency, causing the industry to overspend $25 billion annually on supply chain products and related operations. Clarium was founded in early 2020 with a fundamental mission to help hospitals improve their supply chain operations and better prepare for the next major pandemic or staffing shortage with breakthrough 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. Also sitting on top of Astra OS is Clarium's suite of workflow applications that bring intelligent automation to hospitals, improving productivity by proactively managing inventory and resolving supply disruptions (Disruption Monitor), automating substitution authorizations (Substitute Manager), and streamlining procedure card management (Card Optimizer), with other applications in development.
Since integrating Astra OS, Clarium's health system partners have realized an average of more than $10 million in cost savings and productivity gains in their supply chain operations, including:
— 50% reduction in average incident resolution time
— Average time to approve replacements reduced by 63%
— 3.7-fold increase in approvals of clinically validated alternatives
Important Quotes:
“Partnering with Clarium provides health systems with a transformative opportunity to reimagine their supply chains. Our AI-powered platform and data ecosystem, Astra OS, brings cutting-edge technology to hospitals and care providers to help them dramatically optimize spending, increase employee productivity, and ultimately improve patient outcomes.”
Steve Liu, founder and CEO of Clarium
“We've seen firsthand the need for tools to help healthcare executives build resilient supply chains, and Clarium's Astra OS aims to fill a gap in the market with an end-to-end enterprise platform for supply chain operations. Through deep integration 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 in this next phase of growth as we scale our operations nationally.”
Reva Nohria, Partner at General Catalyst
“Clarium's artificial intelligence-driven data integration and predictive insights have proven invaluable to our company. We now have over 300 users across seven departments actively engaged on Clarium's platform, and we're excited to continue to expand our partnership.”
• Jacqueline Epright, vice president of supply chain at Yale New Haven Health
