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Kalderos Secures $7 Million Funding to Deliver Data-backed, Financially Transparent Drug Discount Management Solution
CHICAGO, May 8, 2019 /PRNewswire/ -- Kalderos today announced $7 million in funding to accelerate market adoption of its first-to-market platform that delivers unparalleled visibility into prescription drug discount compliance. The Series A round was funded by Mercato Partners.
Kalderos is building upon its current pharmacy audit platform to create the only real-time, compliant, point-of-sale chargeback solution for the prescription drug market. Combining industry expertise, artificial intelligence, and comprehensive, deep-data libraries, Kalderos quickly identifies errors that have previously gone undetected, ensuring the right discounts are applied to the right transaction.
"With Kalderos, providers, payers and drug manufacturers can spend more time improving patients' lives and less time on financial engineering," said Jeremy Docken, CEO and co-founder, Kalderos. "This very notion has been at the heart of Kalderos since its inception. Additional funding will not only fuel expansion plans, but also help us to deliver on our value proposition. We found in Mercato a partner with the growth stage expertise to help us develop and fuel our go-to-market engine."
In 2018, non-compliant drug discount claims wasted an estimated $8.5 billion according to industry estimates, and hundreds of billions of dollars in drug discounts are not benefiting patients. Kalderos was founded to modernize the healthcare information infrastructure so that drug discount programs can work as intended. Without ensuring drug discount programs are managed compliantly, policy mandates or legislation changes designed to reduce drug prices are unlikely to succeed.
Kalderos released its first SaaS platform that detects problems in the complex financial interplay between pharmacies, insurers, manufacturers and payers in 2016. Current customers include seven of the 15 largest drug manufacturers.
"We believe Kalderos will restore transparency and trust, eliminate waste, and bring patients closer to the medicine they need at a price they can afford," said Joe Kaiser, director at Mercato Partners. "We are excited to be with Kalderos on this journey, as they accelerate their progress using the remarkable traction they've already established. Jeremy and team will leverage the outstanding reputation for collaboration and innovation with ecosystem partners to deliver on their mission."
Kalderos combines industry expertise, design thinking and technology to target waste and to improve efficiency as the category leader in healthcare financial network management. Its initial SaaS product is the world's first drug discount management solution, which identifies, checks and resolves non-compliance. Using sophisticated models and machine learning processes, Kalderos detects inconsistencies overlooked by current methods, providing material benefits by eliminating waste. Based in Chicago, Kalderos was founded in 2016 by a team firmly rooted in the belief that it is essential to fix this problem in order to help patients and reduce inefficiencies. More information can be found at www.kalderos.com.
About Mercato Partners
Based in Salt Lake City, Mercato Partners is a growth equity firm built to provide both capital and guidance for rapidly expanding companies in the technology and branded consumer segments. The experienced Mercato team of investors, analysts, and in-house performance operators navigate a sea of opportunities to fund high-growth companies and help them unlock extraordinary returns through committed collaboration. For more information, please visit www.mercatopartners.com.
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