Kalderos, a Chicago startup that improves transparency around drug pricing, announced a new round of funding Monday.
The startup announced that it raised a $28 million Series B round from Bain Capital Ventures and Mercato Partners. The new funding follows the startup's $7 million Series A round it raised in 2019.
Founded in 2016, Kalderos is creating a drug discount management solution that aims to be the first real-time, compliant, point-of-sale chargeback tool for the prescription drug market. Its product can identify previously undetected pricing errors, ensuring the right discounts are applied to the right transaction.
The startup is led by CEO Jeremy Docken, who previously spent nearly six years at KPMG, where he led its Pharmaceutical Advisory practice.
"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," Docken said in a statement. "Already, our legacy solution has identified more than $100 million in noncompliant drug discounts."
Kalderos also said it's planning to launch a nonprofit arm, which aims to ensure that patients who need lifesaving medications can afford them.
"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," Docken said.
