Kalderos is building its compliance suite to enable drug manufacturers, providers and payers greater flexibility to work together to help patients pay for the drugs they need
Fremont, CA: Drug discount management solution company Kalderos secures USD 28 million in a Series B funding round participated by Bain Capital Ventures and Mercato Partners. Mercato also funded Kalderos' Series A round in May 2019. Proceeds from the investment round will help the company to expand its capabilities to solidify its point-of-sale solution, expand to support patient and other discount types directly, and explore other financial exchanges in healthcare which would benefit from the dedicated infrastructure.
"In the short year since we closed our Series A funding round, we quadrupled our team, expanded our current drug discount management solution to cover additional programs and completed beta testing of the first dedicated IT infrastructure for proactive, preventative drug discount management. Already, our legacy solution has identified more than $100 million in non-compliant drug discounts," said Jeremy Docken, CEO and co-founder, Kalderos. "With this additional funding, we're forging ahead in our mission to be the drug discount management pioneer and, ultimately, create additional infrastructure to further streamline the interactions between participants in the healthcare ecosystem. We're excited to partner with Bain Capital Ventures in Kalderos' next life cycle, and we're grateful for the continued support from Mercato Partners."
Kalderos will focus on three key areas with this new funding, platform growth, category expansion, and growing its team of experts. The company currently supports compliance efforts for various programs, including the 340B Program, Medicaid Drug Rebate Program and, now, commercial managed care. Its drug discount management platform will soon include a point-of-sale solution, effectively preventing non-compliant drug discounts from happening in the first place. Also, Kalderos is building its compliance suite to enable drug manufacturers, providers and payers greater flexibility to work together to help patients pay for the drugs they need.
"Kalderos is not just tackling a big problem in healthcare, it is creating an entirely new category to solve it," said Yumin Choi, partner at Bain Capital Ventures. "Compliance with drug discount programs, such as the Medicaid Drug Rebate Program or 340B, has long been an opaque and complex process, but the Kalderos platform makes it easy for providers and payers to automatically apply the right discounts to ensure patients get access to lifesaving medicines. We're excited to leverage our deep understanding in healthcare technology, coupled with expertise from Bain Capital's dedicated life sciences group, to support Kalderos on its mission to simplify and demystify the American drug discount system."