ODAIA Raises $25 Million in Series B Funding to Advance Its AI-Driven Commercial Insights Software for Pharma
TORONTO, May 01, 2023 (GLOBE NEWSWIRE) — ODAIA, developers of MAPTUAL, an AI-powered commercial insights SaaS platform for pharmaceutical companies, today announced it raised an oversubscribed $25 Million Series B financing round, led by Threshold Ventures and co-led by Monograph Capital. Wittington Ventures also joined, with participation from existing investors Flint Capital, BDC Capital’s Women in Technology Venture Fund, StandUp Ventures and Graphite Ventures. Emily Melton, Managing Partner of Threshold Ventures and Charles Conn, co-founder and Partner of Monograph Ventures, will join ODAIA’s board. Megan Kelly, Principal of Threshold Ventures, will also join as a board observer. With its ability to provide near real-time and predictive perspective on the dynamic changes of the pharmaceutical marketplace, ODAIA’s proprietary platform MAPTUAL empowers leading life science brands to more efficiently get therapeutics, drugs and vaccines to the markets that need them with a modern, data-driven solution.
With several top 20 global pharmaceutical companies as customers, and having grown year-over-year annual recurring revenue (ARR) in 2022 by over 646%, ODAIA is transforming pharmaceutical marketing and commercialization with its lead product, MAPTUAL. MAPTUAL is a SaaS platform that leverages AI to streamline and automate the prospecting, qualifying and engagement of healthcare providers (HCP), a process that has largely been manual, labor intensive and time consuming. First, brands are onboarded quickly with data onboarding automation. The AI models then analyze data within hours to deliver actionable insights to reps, their managers and marketers. Insights include a robust understanding of the relevant providers and the patients they are treating, brand and market forecasts, target curation and prioritization for call planning, and an understanding of the most effective channels to reach those targets. No other platform puts so much information in front of pharma commercial teams so they can make robust data-driven decisions with near-real-time data and insights.
“ODAIA’s ability to constantly ingest and update a broad mix of life sciences data and turn it into comprehensive insights in near-real-time turns pharmaceutical sales from reactive to proactive,” said Emily Melton, Managing Partner at Threshold Ventures. “We’re thrilled to lead their Series B financing. ODAIA helps get life changing drugs into the hands of those who need them faster and more efficiently.”
“ODAIA has built impressive AI solutions that provide the pharmaceutical industry with the resources needed for the modern age,” said Charles Conn, Partner at Monograph Ventures. “We’re confident that this latest round of funding will further empower their impressive team to quickly scale their offering, which will benefit those who rely on therapeutics for their health and wellbeing.”
MAPTUAL is engineered to take the guess-work out of Pharma’s current workflow by unifying commercial teams through digestible and actionable predictive insights. Its two products, MAPTUAL Field and MAPTUAL Sphere, are built on an easy to navigate platform that provides a near-real-time and predictive perspective on a brand and its market;
- MAPTUAL Field provides sales reps with a granular view of health care providers, allowing pharma sales reps to use robust segments, prescription data – both historical and predicted – to improve their pre-call planning and spend more time seeing customers rather than analyzing data.
- MAPTUAL Sphere enables sales managers to effectively coach their team by discussing territory brand and market dynamics and HCP channel preferences. Marketers are also able to understand the contribution of different channels, by HCP segment, on prescription trends to make better marketing strategy and execution decisions.
Using MAPTUAL Field and MAPTUAL Sphere together allows for tailored insights to be delivered to the right teams, while ensuring consistency in analytics and data sources, and ultimately leading to better and timely patient care.
“Even in a challenging funding environment, our valued investors clearly recognized the significant problem we’re solving for the pharmaceutical industry,” said Philip Poulidis, CEO and Co-Founder of ODAIA. “With these funds, we’ll continue to evolve our product and build out our team to ensure we’re able to offer our existing and future life science brands the predictive tools needed for today’s market, and tomorrow’s. It’s our pleasure to welcome these investors to the ODAIA team.”
The 2020 global pandemic showcased the critical need to embrace new strategies in data, customer segmentation and brand experience across pharmaceuticals. Through its impressive predictive technology, ODAIA is unlocking smarter ways for leading life science companies to engage customers and lead to better patient care.
ABOUT ODAIA: ODAIA is the leading provider of automated commercial predictive insights trusted by global life sciences organizations. ODAIA leverages proprietary data-driven and AI-powered methods to identify distinct population subsets and their healthcare providers in the most efficient way possible. With ODAIA’s highly scalable and quick-to-deploy software-as-a-service platform, MAPTUAL, pharma sales reps can more efficiently engage with HCPs, sales managers can more effectively coach their teams, and marketers can gain a deep understanding of their market and develop campaigns that deliver strong business results. To learn more about ODAIA, visit www.odaia.ai or follow the company on LinkedIn and Twitter.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/688ec79b-39d9-4813-a2ef-56285e3e8869