A Chicago startup that's building a drug discount management solution to improve transparency around drug pricing has raised $7 million in new funding.
Kalderos, founded in 2016, announced Wednesday that it raised the $7 million Series A round from Mercato Partners, a Salt Lake City-based growth equity firm. Kalderos is creating a pharmacy audit platform that aims to be the first real-time, compliant, point-of-sale chargeback solution for the prescription drug market.
Kalderos' product can identify previously undetected pricing errors, 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,” Kalderos CEO Jeremy Docken said in a statement.
Docken spent nearly six years at KPMG, where he led its Pharmaceutical Advisory practice, which focuses on government pricing and contract compliance.
Kalderos works with pharmacies, insurers, manufacturers and payers to simplify the coordination of drug discount programs. The startup says its 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,” Joe Kaiser, director at Mercato Partners, said in a statement.
