TORONTO, May 01, 2023 – Today we announced our Series B financing oversubscribed round of $25 Million USD, 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,”
<div class="block-quote-author">- Emily Melton, Managing Partner, Threshold Ventures</div>
“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. 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.”
<div class="block-quote-author">- Charles Conn, Partner, Monograph Ventures</div>
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. 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.”
<div class="block-quote-author">- Philip Poulidis, Founder & CEO, ODAIA</div>
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.
Also featured on: AI in Healthcare - Industry Watcher’s Digest, Axios - ODAIA secures $25M Series B funding, Axios - Axios Pro: Health Tech Deals Newsletter, Becker’s Health IT - Medtech AI platform raises $25M, BetaKit - ODAIA Closes $43M CAD Series B to Fix “Bottleneck” in Drug Delivery Process, Business Insider - See the 14-slide presentation an AI-powered startup used to raise $25 million USD to upend pharmaceutical marketing, HIT Consultant - ODAIA Secures $25M for AI-Driven Commercial Insights Platform forPharma, The Logic - Toronto’s Odaia raises US$25M Series B from healthtech funds, Loblaw-linked Wittington, The Logic Newsletter - Forwarded to ODAIA Team FinSMEs - Odaia Raises $25M in Series B Funding, Fortune TermSheet Newsletter - VCs aren’t convinced JPMorgan’s acquisition of First Republic stems the crisis, Pharmaceutical Technology - ODAIA wins $25m funding to boost commercial insights platform for pharma, Pulse 2.0 - ODAIA: $25 Million Secured For Advancing AI-Driven Commercial Insights For The Pharma Industry, The SAAS News - ODAIA Raises $25 Million in Series B, StartUP Health - StartUp Health Insights: Cancer Detection Startup Closes Nearly $59M | Week of May 2, 2023, Verdict - ODAIA wins $25m funding to boost commercial insights platform.
