Hospital supply chain automation company Clarium raises $10.5M, debuts AI-powered tool

Astra OS uses real-time data to improve visibility, collaboration, and resiliency

Healthcare data is notoriously fragmented across multiple systems, leading to inefficiencies and challenges in many areas. That includes inventory management, where demand planning, data accuracy, and workforce efficiency has led to over $25 billion in overspending annually on supply chain products and related operations.

Clarium was founded to help hospitals improve their supply chain operations, while also preparing them to combat the next major pandemic or shortage. The company empowers hospitals and health systems to optimize their supply chain operations using automation. 

On Tuesday, the  announced a new funding round, as well as the launch of its new AI-powered workflow platform and data ecosystem, Astra OS.

Astra OS uses real-time data to improve visibility, collaboration, and resiliency across all departments and teams in conjunction with Clarium’s suite of workflow applications, including Disruption Monitor, which manages inventory and resolves supply disruptions; Substitute Manager, which automates substitute approvals; and Card Optimizer, which streamlines procedure card management.

Since integrating Astra OS, Clarium’s health system partners have identified an average of over $10 million in cost savings and productivity gains in their supply chain operations, as well as a 50% decrease in average disruption resolution time, a 63% decrease in average substitute approval time, and 3.7x growth in clinically validated substitutes approved.

In order to continue to build on and refine its product offerings, and to continue to invest in generative AI and large language model technologies, Clarium raised a $10.5 million in a financing round led by General Catalyst, along with 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.

This latest round of funding, which brings Clarium’s total capital raised to date to $16 million, will also be used to build out its team, specifically in data science, engineering, sales, product, and customer success.

Finally, the company says it will also use the investment to integrate further with existing its partners, including CommonSpirit, Yale New Haven Health, Geisinger, Ochsner Health, Boston Children’s Hospital, while also building programs with additional health systems.

“Health systems have a transformational opportunity to reimagine their supply chains by partnering with Clarium,” Steve Liou, founder and CEO of Clarium, said in a statement.

“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.”

(Image source: clariumhealth.com)