Company Profile: base86, Inc.
Background
Overview
base86, Inc. is a technology-driven company specializing in healthcare supply chain management and automation. Founded in 2019, the company is headquartered in Newark, Delaware, United States. base86 offers a platform that simplifies tasks such as comparing supply costs, managing inventory, and qualifying leads, all powered by artificial intelligence. The primary sectors it serves are the healthcare and dental industries.
Mission and Vision
The company's mission is to elevate and empower inter-business commerce through innovation and seamless automation. This mission reflects their commitment to enhancing operational efficiency and fostering growth within the healthcare supply chain sector.
Industry Significance
In the healthcare industry, efficient supply chain management is crucial for reducing costs and improving service delivery. base86 addresses these challenges by providing AI-driven solutions that streamline procurement processes, thereby contributing to the overall efficiency and effectiveness of healthcare providers.
Key Strategic Focus
Core Objectives
base86 aims to revolutionize healthcare supply chain management by offering innovative, AI-powered solutions that simplify procurement, inventory management, and supplier qualification processes.
Areas of Specialization
The company specializes in:
- Supply Cost Tracking and Management: Utilizing AI to monitor and optimize supply expenses.
- Inventory Management: Streamlining inventory processes to ensure optimal stock levels.
- Supplier Qualification: Automating the assessment and onboarding of suppliers to ensure quality and compliance.
Key Technologies Utilized
base86 leverages artificial intelligence and data automation technologies to provide real-time market intelligence, demand forecasting, and margin optimization. Their flagship product, 86 Catagraph, offers API-driven solutions for SKU cross-referencing, data enrichment, and market feeds.
Primary Markets Targeted
The company's solutions are primarily targeted at:
- Independent Dental Offices: Offering tools to easily shop for dental supplies and connect with new supply partners.
- Dental Suppliers: Providing platforms to find leads and manage orders efficiently.
- Healthcare Providers: Enabling streamlined procurement and inventory management processes.
Financials and Funding
Funding History
base86 has secured funding through various rounds, including a pre-seed round in June 2022, led by Right Side Capital Management. The total funding amount raised is not publicly disclosed.
Utilization of Capital
The capital raised is intended to support the development and expansion of base86's AI-driven supply chain management solutions, enhance product offerings, and scale operations to meet the growing demand in the healthcare sector.
Pipeline Development
Key Products
- 86 Catagraph: An API-driven platform that empowers distributors, manufacturers, and Group Purchasing Organizations (GPOs) to streamline processes, gain competitive insights, and forecast demand.
Development Stages
86 Catagraph is currently in the market, offering comprehensive solutions for supply chain optimization. The company continues to refine and expand its product offerings to address evolving industry needs.
Target Conditions
The platform is designed to address challenges in supply cost tracking, inventory management, and supplier qualification within the healthcare sector.
Anticipated Milestones
base86 aims to achieve significant growth in user adoption, expand its market presence, and continuously enhance its product capabilities to maintain a competitive edge in the industry.
Technological Platform and Innovation
Proprietary Technologies
- 86 Catagraph: An API-first healthcare supply chain data intelligence platform that offers SKU cross-referencing, data enrichment, and real-time market feeds.
Significant Scientific Methods
- AI-Driven Data Automation: Utilizing artificial intelligence to automate data extraction, spend analysis, pricing tier management, dynamic pricing, demand forecasting, and margin optimization.
AI-Driven Capabilities
base86's AI capabilities enable real-time market intelligence, demand forecasting, and margin optimization, providing actionable insights for healthcare supply chain stakeholders.
Leadership Team
Edward Isarevich
- Position: Chief Experience Officer
- Professional Background: Over 10 years in product and user experience design, with experience in Fortune 100 companies and internet startups.
- Contributions: Led successful product launches and contributed to the development of base86's user-centric solutions.
Nik Matvienko
- Position: Chief Technology Officer
- Professional Background: Over 10 years in software development, formerly Principal Architect at a global supply chain company, and a prominent public speaker and technology evangelist.
- Contributions: Spearheaded the technological development of base86's AI-driven platform.
Jess McCarter
- Position: Sales & Strategy
- Professional Background: Over 10 years in sales and strategy, with 10 years of SMB ownership and management, and experience in multiple technology startups.
- Contributions: Developed and executed sales strategies to drive growth and market penetration.
Advisory Board Members
- Dr. Lorne Lavine: CEO of The Digital Dentist, providing insights into digital transformation in dentistry.
- Ron Joyal: Former COO of 1-800-Dentist, offering expertise in dental industry operations.
- Naomi Cooper Hochman: Formerly at 1-800-Dentist, contributing marketing expertise.
- Dr. Vish Banthia
