# Chronicled

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/chronicled

- Industry: Internet
- Headquarters: San Francisco, US
- Website: www.chronicled.com
- Total disclosed funding: $31M
- Latest round: Series B (Feb 17, 2022)
- Investors on record: 7

## About

Chronicled, Inc. specializes in enhancing the pharmaceutical supply chain through its innovative MediLedger platform, leveraging blockchain technology for efficient data alignment and transaction settlement.Founded in 2014 in San Francisco, US, Chronicled, Inc. provides advanced solutions for the pharmaceutical supply chain. The company was co-founded by Eric Garvin, Maurizio Greco, and Ryan Orr, with Susanne Somerville serving as the current CEO. In February 2022, Chronicled secured USD 8.3 million in Series B funding, led by True Global Ventures, bringing the total amount raised to USD 8.3 million. The firm has completed 10 deals, with its most recent funding round reflecting a consistent growth strategy.Chronicled's core offering, the MediLedger platform, provides advanced solutions for data alignment and transaction settlement across the pharmaceutical supply chain, specifically targeting manufacturers, wholesalers, group purchasing organizations (GPOs), and health systems. The platform leverages secure blockchain technology to streamline processes such as contract communication and claim adjudication, thereby minimizing revenue leakage and enhancing operational efficiency. This innovative solution enables manufacturers to optimize their Gross-to-Net revenue calculations while empowering wholesalers and GPOs to align pricing data accurately with trading partners, ultimately ensuring consistent and precise pricing across health systems. The MediLedger platform serves a diverse customer base in the pharmaceutical sector across North America and Europe, addressing critical end-use cases like contract misalignments, billing discrepancies, and the need for standardized product information.Chronicled's revenue model is anchored in B2B transactions involving subscriptions and partnerships with various stakeholders in the pharmaceutical industry. The company engages in contractual agreements with manufacturers, wholesalers, and health systems, facilitating seamless data integration and transaction processing through the MediLedger platform. Revenue is generated through subscription fees for access to the platform's suite of tools and features, which include roster management and real-time eligibility checks. Each transaction processed on the platform not only enhances pricing accuracy but also reduces the administrative burden associated with chargebacks and billing errors, contributing to a more efficient marketplace. The structured transaction model helps streamline the flow of goods and services across the pharmaceutical network, ensuring that all parties benefit from accurate data alignment and settlement processes.In February 2021, Chronicled, Inc. raised USD 8.3 million in Series B funding led by True Global Ventures. The company plans to utilize this funding to enhance the MediLedger platform further and explore new product developments aimed at increasing operational efficiency. Additionally, Chronicled aims to expand its presence in European markets by 2025, targeting strategic partnerships with key players in the pharmaceutical supply chain to reinforce its position.

## Funding rounds

- Series B, Feb 17, 2022, $8.3M — True Global Ventures
- Series A, Dec 21, 2018, $16M — Mandra Capital, Streamlined Ventures, The Perkins Fund
- Seed, Aug 18, 2017, $3M — Plug and Play, Streamlined Ventures
- Seed, Mar 1, 2017 — Iterative
- Seed, Mar 3, 2016, $3.4M — Mandra Capital, Pantera Capital

## Investors

- Mandra Capital (https://capitalatlas.ai/funds/mandra-capital) — Seed, Series A
- Pantera Capital (https://capitalatlas.ai/funds/pantera-capital) — Seed
- Iterative (https://capitalatlas.ai/funds/iterative) — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed
- Streamlined Ventures (https://capitalatlas.ai/funds/streamlined-ventures) — Seed, Series A
- The Perkins Fund (https://capitalatlas.ai/funds/the-perkins-fund) — Series A
- True Global Ventures (https://capitalatlas.ai/funds/true-global-ventures) — Series B