ODAIA, a life sciences predictive analytics and commercial insights provider, has secured an investment of $25m in its Series B funding round.
The round was led by Threshold Ventures and co-led by Monograph Capital. Another new investor to take part in Series B round was Wittington Ventures.
Existing investors including Flint Capital, StandUp Ventures, Graphite Ventures and BDC Capital’s Women in Technology Venture Fund, also participated in this round.
Following the Series B milestone, ODAIA has confirmed two new additions to its board, including Monograph Ventures partner Charles Conn and Threshold Ventures managing partner Emily Melton.
Threshold Ventures principal Megan Kelly has joined as a board observer.
Melton said: “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.”
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ODAIA will use the latest investment to further advance its artificial intelligence (AI)-powered product offerings, allowing the pharma companies to deliver various life changing therapies to the patients faster.
One of its solutions is MAPTUAL, an AI-based commercial insights platform, which has been designed to help pharmaceutical companies in tracking real-time changes and predictive perspective of associated marketplace.
It uses AI to streamline and automate the process of prospecting, qualifying and engaging healthcare providers, which otherwise is a labour intensive and time consuming process.
This software-as-a-service (SaaS) platform is also used by life science brands to launch their drugs, therapeutics and vaccines in the markets, using data-driven solution.
Currently, the company has 20 pharmaceutical companies as its customers and has registered around 646% of year-over-year increase in the annual recurring revenue for fiscal year 2022.
ODAIA CEO and co-founder Philip Poulidis said: “With these funds, we will continue to evolve our product and build out our team to ensure we are able to offer our existing and future life science brands predictive tools needed for today’s market, and tomorrow’s.”