Healthcare supply chain intelligence provider Symmetric today announced a strategic growth investment from Spectrum Equity, a growth equity firm focused on artificial intelligence, software, and data businesses. This marks the first institutional capital raised by Symmetric, which has been profitable since its founding in 2018 by Rich Kucera, TJ Dardet, Jon Boerner, and Ryan Kissell.
Every hospital supply chain runs on an item master: a catalog as large as 500,000 rows containing every single product it procures. Though the data in this catalog changes daily, no one in the supply chain – including manufacturers, distributors, and group purchasing organizations – bears full responsibility for keeping it up to date. Consequently, supply chain, value analysis, and finance teams struggle with inaccurate visibility into their spend, while catalog errors cause revenue leakage, drive excess cost, and impact patient safety: an implant goes unscanned in the OR and never gets reimbursed, contracted pricing tiers and supplier rebates are missed, or a recalled device unnecessarily stays on the shelf.
Symmetric solves this by maintaining the world’s largest database of continuously updated item data, composed of nearly 20 million healthcare items, each carrying up to 1,800 metadata attributes (such as GTIN, UNSPSC, HCPCS, and item descriptions), alongside five million verified substitutes. Its data pipeline draws on hundreds of sources, from regulatory registries to manufacturer catalogs to GPO contracts, reconciling conflicting product data into a single record that gets pushed directly into a hospital’s ERP. Staff at over 45 leading health systems verify this data, and the network is growing. The company reports an average match rate of 96%, a figure that has risen every year since founding.
Symmetric’s customers span the full breadth of U.S. healthcare – from some of the nation’s largest and most prestigious health systems and academic medical centers to small community and critical access hospitals with fewer than 25 beds. A majority switched to Symmetric from an incumbent provider, and 98% of customers have stayed with the company since its founding.
Kucera and Dardet encountered the problem repeatedly as healthcare supply chain consultants at Accenture before teaming up with fellow Carnegie Mellon alumni Boerner and Kissell to start Symmetric.
“Hospitals have been told for years that bad item data is just the cost of doing business. It isn’t. Most of our customers came to us after years of paying for data they still had to fix by hand,” said Rich Kucera, co-founder and CEO of Symmetric. “Spectrum’s backing lets us move faster on what comes next: tools that help hospitals see supply disruptions coming, protect revenue, and make better value analysis decisions, all built on data they can finally trust.”
“The opportunity for AI to improve healthcare operations is enormous, but you can’t leverage AI on top of data you don’t trust. For decades, health system supply chain and procurement teams have relied on hand-reconciled data coming from thousands of sources with no shared standard. Symmetric has spent the last eight years working to solve that data problem, becoming the system of record for supply chain data at some of the largest health systems in the country,” said Michael Radonich, Managing Director at Spectrum Equity. “With this investment, we’re excited to partner with Rich and the team to build on that position.”
The new partnership will focus on expanding go-to-market and customer success, and building out the roadmap behind Contract Management, a recently launched product already in use by more than one in five Symmetric customers. The company’s roadmap includes a supply chain control tower, revenue integrity tools, value analysis, and a supplier portal.
About Symmetric
Symmetric maintains the data intelligence foundation and layer for healthcare supply chains, serving customers ranging from some of the nation’s largest and most prestigious health systems and academic medical centers to small community and critical access hospitals. The company helps provider organizations align item data across GPOs, ERPs, EHRs, and point-of-use systems to reduce delays and manual cleanup through consistent GTIN and attribute standards. Symmetric leverages out-of-the-box API integrations with Workday, Oracle, and Infor to make seamless data-sharing a reality. This unified data foundation supports advanced resiliency planning by providing visibility into verified substitutes and standardized product lists, while leveraging granular Country of Origin and real-time tariff data to quantify financial exposure. By connecting these attributes, hospitals can effectively lower clinical variation and diversify sourcing to navigate global economic and geopolitical disruptions. Founded in 2018 and headquartered in Pittsburgh, Symmetric is used daily by supply chain, revenue, IT, value analysis, and procurement teams across the country. Learn more at symmetrichealthsolutions.com.
About Spectrum Equity
Founded in 1994, Spectrum Equity is a leading growth equity firm with offices in Boston, San Francisco, and London. For over 30 years, we’ve partnered with and provided strategic support to innovative companies across multiple sectors, with a focus on software, artificial intelligence, and data businesses. Notable healthcare software and data investments include Definitive Healthcare, GoodRx, Net Health, Passport Health, Payer Compass, PWNHealth, RxVantage, splose, VBA, and Verisys. For more information, including a complete list of portfolio investments, please visit https://spctrm.pe/list-of-investments, which is updated periodically and reflects investments that have been publicly announced.
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