OpenMarkets
Latest round
- Series A
Last raised
- Feb 2013
Total raised
- $1.5M
Investors
- 1
About OpenMarkets
Founded in 2011 in Chicago, US, OpenMarkets LLC specializes in simplifying the procurement of healthcare equipment. The company was started by a group of founders: Dan Michalek, Farid Gunawan, Rum Chopra, and Tom Derrick. The CEO is Trevor Wood.OpenMarkets is a technology platform that simplifies the procurement process for healthcare equipment and services, primarily serving hospitals and health systems. Its core offerings include the OpenMarkets Formulary, CapConnect, and Optimizer, which collectively enable organizations to research, quote, and acquire approved medical equipment efficiently. The Formulary allows users to access a catalog of pre-approved equipment specific to their organization, ensuring compliance and easing the purchasing process. CapConnect organizes and automates the capital equipment planning process, providing visibility and workflow management across various departments. Optimizer offers tools for price negotiation and equipment comparison, assisting healthcare providers in making data-driven purchasing decisions.OpenMarkets generates revenue through subscriptions and partnerships with healthcare organizations, focusing on business-to-business (B2B) transactions. Clients typically engage with OpenMarkets by subscribing to its platform to gain access to its comprehensive suite of procurement tools, which facilitate the buying and selling of healthcare equipment. The structure of transactions often involves clients utilizing the OpenMarkets platform to connect with suppliers, request quotes, and finalize purchases based on their individual needs. These transactions may involve regular fees associated with subscription plans, as well as potential costs tied to specific services offered within their platform.OpenMarkets plans to enhance its platform with new product offerings aimed at further simplifying the procurement process for healthcare providers. There are ongoing efforts to expand into additional geographic markets, with specific targets set for 2024.5 mn will be instrumental in supporting these initiatives, providing the necessary resources to develop new products and facilitate market expansion.
Who invested in OpenMarkets
1 investor across 1 round
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Funding rounds
Series A
Feb 26, 2013
Amount
$1.5M
Investors
Questions about OpenMarkets
Who invested in OpenMarkets?
OpenMarkets has 1 investor on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has OpenMarkets raised?
OpenMarkets has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did OpenMarkets last raise money?
OpenMarkets's most recent round on record is a Series A, in Feb 2013.
What does OpenMarkets do?
Founded in 2011 in Chicago, US, OpenMarkets LLC specializes in simplifying the procurement of healthcare equipment.
Where is OpenMarkets headquartered?
OpenMarkets is headquartered in Chicago, US.
Which VCs invest in companies like OpenMarkets?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Kleiner Perkins and Lightspeed Venture Partners back healthcare companies at OpenMarkets's stage. Their profiles are linked below.
VCs backing healthcare startups at Series A
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