Insider Brief
- Clarium, Inc. secured $10.5 million in a strategic financing round led by General Catalyst, raising its total capital to $16 million.
- The company launched Astra OS, an AI-powered platform to optimize hospital supply chain operations, offering significant cost savings and productivity improvements.
- The funding will support Clarium’s expansion, integration with health systems, and further development of its AI-driven solutions.
PRESS RELEASE — NEW YORK/August 20, 2024/(BUSINESS WIRE) — Clarium, Inc. the healthcare technology company revolutionizing hospital supply chain operations, today announced a $10.5M strategic financing round. The investment was 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 Clarium’s total capital raised to date to $16M.
Alongside the strategic financing, Clarium introduced Astra OS, its proprietary AI-powered workflow platform and data ecosystem. Astra OS, which was designed and built in collaboration with several leading health systems, empowers providers to optimize and automate their supply chain operations with insights to achieve millions of dollars in cost savings and productivity improvements annually.
“Health systems have a transformational opportunity to reimagine their supply chains by partnering with Clarium,” said Steve Liou, Founder and CEO of 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.”
With this financing, 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. 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.
“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,” said Reva Nohria, partner at General Catalyst.
Clarium is solving a critical problem in the healthcare industry
Historically, healthcare data has been fragmented across multiple systems for hospitals and suppliers. 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 $25B each year. The COVID-19 pandemic exacerbated these gaps and inefficiencies dramatically — against this backdrop, Clarium was founded 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 brings together real-time data to improve visibility, collaboration, and resiliency across all departments and teams. 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 have identified an average of $10M+ 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. “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.”
About Clarium
Clarium, Inc. is a healthcare technology company that is transforming how supply chain is managed for providers and suppliers. Clarium empowers hospitals and health systems to optimize their supply chain operations with an AI-powered platform, Astra OS, which delivers unified data, actionable insights, and intelligent workflow automation. The company was founded in 2020 by Steve Liou and is headquartered in New York City. For more: www.clariumhealth.com
About General Catalyst
General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society. We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, New York City, London, Berlin, Bangalore and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. For more: www.generalcatalyst.com.
Contacts
Steve Liou
[email protected]
