Curvo Labs, Inc., an industry leader in healthcare supply chain and sourcing technology, has announced the close of its Series A funding round. Curvo raised $2 million in the round, which was led by Snake Run Capital and Elevate Ventures.
Curvo, founded in 2013 by Andy Perry and Steve Suhrheinrich, offers a unique technology platform for strategic clinical spend management that equips hospital supply chain leaders and CFOs with the ability to reduce costs while maintaining quality.
“Healthcare supply chain is unique. It requires specialized data and industry core competency to drive savings and change in the supply chain. During my time as a board member for Curvo, I have seen first-hand how their creativity, insight and real-world data empowers healthcare supply chain leaders. I’m excited by the continued progress Curvo has made and thrilled to lead another round of investment. I enthusiastically support Curvo’s mission and their future,” says Kent Parker, Founder and President of Snake Run Capital. As part of this funding round, Parker will begin serving as Curvo’s Board Chair.
The company, which has seen revenue growth of over 5X since its last funding round in 2017, will use the funds to expand the leadership team and further develop the product offering. Hospitals have the potential to safely reduce their supply expenses by an average of 17.7%, or $11 million annually per hospital, according to a 2018 report from industry analyst Navigant.
“We started this company to drive cost out of healthcare, and today’s announcement is about further delivering on that mission. The deployment of our new, leading-edge AI platform for advanced data enrichment, the deepening of our clinical service line offerings, and the release of advanced automation to scale up workflows will bring direct customer value and critical mission fulfillment from this funding round. Further, I’m beyond excited to welcome Kent Parker into a greater role in the company as Board Chair. Kent is a Top 5 expert in the field of spend management and a seasoned SaaS investor and executive. His contribution to Curvo and to the success of our customers is invaluable,” says Andy Perry, Curvo CEO and Co-founder.
“As a longtime investor in Curvo, we are excited to see the company take its technology and its business to the next level,” says Chris LaMothe, CEO of Elevate Ventures. “The deep industry knowledge and understanding of clinical efficacy needed for successful spend management in healthcare creates a powerful opportunity for Curvo to differentiate in supply chain. Curvo has continually demonstrated an attitude of innovation that has led to a significant shift in the way supply chain leaders and clinicians alike view purchasing decisions, and we are looking forward to what comes next for Curvo.”