ODAIA raises $13.8M for its AI-run professional insights platform for pharma providers – TechCrunch

Toronto-primarily based ODAIA, an AI-powered industrial insights platform for pharmaceutical businesses, has lifted $13.8 million in Collection A funding led by Flint Cash. The system combines knowledge analysis, course of action mining and AI to offer you predictive analytics to pharmaceutical and existence sciences industrial groups. The funding spherical will come as the organization doubled the dimensions of its workforce over the earlier year.

The startup aims to help pharmaceutical commercial teams figure out what they want to know about their prescribers so they can deliver the correct message through the most effective channels and ultimately get their therapeutics to the patients that want them. The startup was founded at the University of Toronto in 2018 following several years of investigate and enhancement in the regions of procedure mining, client journey mapping and AI.

“Some of the early investigation function was centered close to analyzing individual journeys and working with AI and Machine Learning to improve these journeys,” ODAIA co-founder and CEO Philip Poulidis informed TechCrunch in an e mail. “It evolved above time to include things like the evaluation of lots of distinct, but associated, knowledge resources, such as prescriber transactions, anonymized affected individual health and fitness claims knowledge, population demographic and socioeconomic information, anonymized lab facts, and much more. All of this investigation and engineering development work culminated in the start of MAPTUAL, a SaaS platform that analyzes the knowledge sets outlined earlier mentioned to supply predictive insights, prioritize and dynamically section physicians that are dealing with clients who would be excellent candidates for goal therapeutics.”

The funding round declared right now involved participation from Innospark Ventures, Alumni Ventures, Graphite Ventures and ODAIA’s present-day traders including BDC Funds, MaRS IAF, StandUp Ventures, Panache Ventures and other individuals. The business states the new funding will be utilised to boost system options and to increase income, internet marketing and shopper success teams to guidance current market growth.

Impression Credits: ODAIA

“With the new round of cash, we will accelerate the advancement of our products roadmap by increasing our merchandise and software package engineering groups, grow our business teams, and mature our system integration partnerships,” Poulidis stated.

The corporation suggests the pandemic has improved the shopper-struggling with pharma small business and that digital transformation is now the primary precedence. In phrases of the long term, Poulidis stated the startup’s target is to offer a one particular-prevent store for multivariate information examination and predictive insights of lifestyle sciences information in a single platform. He outlined that the platform will incorporate attributes and abilities that will permit existence sciences firms to superior fully grasp the journey of their prescribers and individuals and respond in genuine-time by leveraging data and AI.

The startup’s Collection A spherical follows its $1.6 million seed expenditure announced in 2019. The spherical was co-led by Panache Ventures and StandUp Ventures with participation from BDC Capital’s Ladies in Technologies Venture Fund, Inovia Money and MaRS IAF. This team of investors joined pre-seed traders such as Toronto Innovation Acceleration Companions, University of Toronto’s UTEST, N49P, Ontario Centres of Excellence (OCE) and Amar Varma, the co-founder of Autonomic.ai (acquired by Ford).