Our Investment in Clarium
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Today, we’re thrilled to announce we’re leading Clarium’s $10.5M strategic financing round, fueling founder Steve Liou’s mission to make healthcare supply chains more resilient.
The COVID-19 pandemic sent shockwaves throughout supply chains across industries. In particular, PPE, respirators, and other medical equipment shortages shed a glaring light on the healthcare supply chain’s vulnerability and opacity. In conversations with several of our health assurance partners, it was clear that hospital executives are under increased pressure to make investments that optimize the performance of their supply chain, as it is essential to day-to-day operations and accounts for considerable external spend. Despite the interconnectedness of supply needs, provider and supplier data is spread across multiple information systems and most supply chain teams still coordinate through spreadsheets and phone calls. Siloed information, inefficient workflows, and misaligned goals and objectives have resulted in an exorbitant $25B in annual supply chain overspend.
As we dug deeper into the problem, we were struck by Steve’s vast understanding of the healthcare supply chain. He’s spent over a decade evaluating the idiosyncrasies of healthcare supply chains, and, when they came to a stop in 2020, he pivoted his career to found Clarium—an AI-powered OS for healthcare supply chain management that enhances productivity for staff, so they can focus on providing exceptional patient care. Steve’s deep domain expertise, thoughtfulness around the solution set, ability to attract top technical talent, and GTM finesse have charted a promising course for Clarium and the future of healthcare supply chains.
Clarium’s core platform, Astra OS, seamlessly ingests, unifies, and normalizes real-time feeds across all provider systems (ERP, EHR, RCM, WMS, POU, CLM). It then integrates them with supplier, EDI, FDA, and other upstream data to provide end-to-end visibility at the system, hospital, physician, and procedure levels. By leveraging this two-sided network, Clarium empowers hospitals to make data-driven decisions with an ecosystem of embedded workflow applications, including Disruption Monitor, Substitute Manager, and Card Optimizer. With these tools, teams can monitor and resolve disruptions, identify and approve substitutes through a crowdsourced database, and automate procedure card management with AI-powered recommendations to standardize supply usage and minimize waste. This ability to move beyond data observation into data remediation is what impressed us most about Clarium.
Clarium works with top health systems like Yale New Haven Health, Geisinger, CommonSpirit, Ochsner, and others that represent $100B+ in net patient revenue. With Astra OS, these partners have seen an average of $10M+ in cost savings and productivity gains. We’re honored to be on this transformative journey with Steve and the Clarium team to empower health systems with supply chain resilience and ultimately improve patient outcomes. In our view, the healthcare supply chain future is Clarium.
Today, we’re thrilled to announce we’re leading Clarium’s $10.5M strategic financing round, fueling founder Steve Liou’s mission to make healthcare supply chains more resilient.
The COVID-19 pandemic sent shockwaves throughout supply chains across industries. In particular, PPE, respirators, and other medical equipment shortages shed a glaring light on the healthcare supply chain’s vulnerability and opacity. In conversations with several of our health assurance partners, it was clear that hospital executives are under increased pressure to make investments that optimize the performance of their supply chain, as it is essential to day-to-day operations and accounts for considerable external spend. Despite the interconnectedness of supply needs, provider and supplier data is spread across multiple information systems and most supply chain teams still coordinate through spreadsheets and phone calls. Siloed information, inefficient workflows, and misaligned goals and objectives have resulted in an exorbitant $25B in annual supply chain overspend.
As we dug deeper into the problem, we were struck by Steve’s vast understanding of the healthcare supply chain. He’s spent over a decade evaluating the idiosyncrasies of healthcare supply chains, and, when they came to a stop in 2020, he pivoted his career to found Clarium—an AI-powered OS for healthcare supply chain management that enhances productivity for staff, so they can focus on providing exceptional patient care. Steve’s deep domain expertise, thoughtfulness around the solution set, ability to attract top technical talent, and GTM finesse have charted a promising course for Clarium and the future of healthcare supply chains.
Clarium’s core platform, Astra OS, seamlessly ingests, unifies, and normalizes real-time feeds across all provider systems (ERP, EHR, RCM, WMS, POU, CLM). It then integrates them with supplier, EDI, FDA, and other upstream data to provide end-to-end visibility at the system, hospital, physician, and procedure levels. By leveraging this two-sided network, Clarium empowers hospitals to make data-driven decisions with an ecosystem of embedded workflow applications, including Disruption Monitor, Substitute Manager, and Card Optimizer. With these tools, teams can monitor and resolve disruptions, identify and approve substitutes through a crowdsourced database, and automate procedure card management with AI-powered recommendations to standardize supply usage and minimize waste. This ability to move beyond data observation into data remediation is what impressed us most about Clarium.
Clarium works with top health systems like Yale New Haven Health, Geisinger, CommonSpirit, Ochsner, and others that represent $100B+ in net patient revenue. With Astra OS, these partners have seen an average of $10M+ in cost savings and productivity gains. We’re honored to be on this transformative journey with Steve and the Clarium team to empower health systems with supply chain resilience and ultimately improve patient outcomes. In our view, the healthcare supply chain future is Clarium.
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